Domingo Brief — Lula in China, Chile’s work week, & Paraguay’s IMF review
Domingo Brief — Lula in China, Chile’s work week, & Paraguay’s IMF review
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Domingo Brief — Lula in China, Chile’s work week, & Paraguay’s IMF review
🇧🇷 Brazilian President Lula da Silva visited China in an effort to relaunch and further deepen his country’s ties with its largest trade partner. Lula and Chinese Premier Xi Jinping signed over 20 agreements concerning everything from trade and investment to telecommunications and green technology. The two leaders also agreed to begin using their own respective currencies in bilateral trade, as opposed to the standard US dollar used in international commodities transactions.
Latinometrics: As we’ve outlined before, Sino-Brazilian trade is massive: Brazil exported over $100B worth of goods to China in 2021. Brazil was also China’s 4th-largest investment destination that same year. The two BRICS partners have had a fruitful relationship based first and foremost on Chinese demand for Brazilian resources like iron ore, soybeans, oil, and meat.
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