The Brazilian ambassador said the country was “very interested” in joining China’s Belt and Road debt trap.

This was stated by the Brazilian Ambassador to China, Paulo Estivallet de Mesquita. Global Times In an interview published Thursday, the Propaganda newspaper said that self-proclaimed conservative President Jair Bolsonaro had a “substantial interest” in China’s Belt and Road Initiative (BRI).

The conference took place in the context of the ongoing virtual BRICS summit, attended by the leaders of the two countries, as well as South Africa, Russia and India. Brazil joined the BRICS economic alliance during the reign of former Brazilian President Luiz Inacio da Silva, an ultra-left socialist currently running for president against Bolsonaro despite being convicted of corruption and serving more than two decades in prison. The prison sentence was later reversed by the Brazilian Supreme Court. Bolsonaro, who once campaigned for the promise of being the champion of anti-communism and openly questioned Lula’s policy of linking the Brazilian economy to China, eventually abandoned this stance, doing business with China, and China was once mistakenly called a “capitalist” country. .

The BRI is a global scheme by which China offers exorbitant loans to poor countries, promising Chinese companies that they can use that money to build major roads, ports, railways, skyscrapers, and other infrastructure that would otherwise be for them. Projects almost always fell short of profit expectations set by the Chinese government prior to the deals, and many countries subsequently fell into a spiral of insolvency, resulting in the Chinese Communist Party’s seizure of related assets. Countries most adversely affected by the BRI include Sri Lanka, Rwanda, Kenya and Pakistan.

While China says the BRI’s aim is to rebuild the old Silk Road trade route from Beijing to Western Europe, it is aggressively pushing BRI’s projects in Latin America, which had no commercial role before the Columbian Silk Road.

Estivalle didn’t give up Global Times There is a lot of information about Bolsonaro’s alleged interest in the program, but he said Brasilia would consider joining.

“We are very interested in the One Belt, One Road initiative,” the ambassador said. “During President Bolsonaro’s visit to China in 2019, our leaders agreed to seek synergies between the BRI and Brazil’s investment program. We already have many investment projects that meet these standards,” he said.

Estivalle emphasized that China is Brazil’s largest trading partner and Brazil has a trade surplus with China. (For comparison, Brazil has a trade deficit with its second-largest partner, the United States.)

Praising the bilateral relationship, the ambassador said, “In 2021, our trade with China will more than double our trade with the United States.”

“Brazil has a good experience with Chinese investment over the last few years, and I understand that Chinese investors are also satisfied with the results and prospects of their investment in Brazil,” Estivalle said. “Of course, it is important that Chinese companies continue to comply with all relevant laws and regulations, and every investment needs to be carefully evaluated on its merits.”

Estivalle also praised the coronavirus vaccines produced in China, saying they “play an important role in the fight” with the disease in Brazil, an odd comment in light of Bolsonaro’s personal opposition to experimental vaccine candidates and the promotion of alternative treatments such as hydroxychloroquine. , they are analysed. It has not been proven to be effective in controlling the disease.

Bolsonaro praised China and its brutal dictator, Xi Jinping, in his speech at the BRICS summit yesterday. China is officially hosting the summit, although it is “almost” held, meaning leaders communicate with each other via video links.

“I want to thank the Chinese presidency for organizing this meeting, I congratulate the President. [sic] Xi Jinping and the Chinese who made me feel welcome during my visit to China in 2019,” Bolsonaro said. “In this case, we have promoted the strategic partnership between Brazil and China in a way that brings tangible benefits for our people. [Chinese coronavirus] Pandemic. “

Bolsonaro also supported the BRICS coalition as “The World Bank, IMF etc. to strengthen reform efforts in international organizations such as [International Monetary Fund]or the United Nations system, especially the Security Council. ” The two BRICS members, Russia and China, have a permanent seat in the Security Council.

Bolsonaro spent most of 2020 vehemently opposing China’s coronavirus vaccines, insisting he would not allow Brazilians to be used as “guinea pigs” for Chinese pharmaceutical companies. A year later, however, when vaccines were found, he changed his mind and, being wholeheartedly grateful to the Communist Party, allowed them to enter the country.

The drastic change in attitude also marked the transition from candidacy to president regarding China’s policy. During his election campaign in 2018, Bolsonaro stated that he would completely limit Chinese investment in the country.

“China is not buying from Brazil. China is buying Brazil,” Bolsonaro told reporters that same year. “Are you ready to leave Brazil in the hands of the Chinese?”

Bolsonaro was elected in October of that year and appears to have immediately adopted a different policy, inviting Chinese government officials to his inauguration ceremony and planning to visit Beijing next year. In China, Bolsonaro signed eight trade agreements with Xi and said “Brazil needs China, China needs Brazil”. Bolsonaro gave Xi the jersey of his favorite team as a token of friendship.