In a move underscoring half a century of diplomatic relations, China’s Foreign Minister Wang Yi is set to visit Brazil and Jamaica from January 18 to 22. This visit comes as an invitation, following Wang’s recent trip to Africa, signaling China’s commitment to deepening its global partnerships.
2024 marks the 50th anniversary of the establishment of China-Brazil diplomatic relations. Since Beijing became Brasília’s top trading partner in 2009, the relationship has flourished, evolving into a comprehensive strategic partnership by 2012. Under the leadership of Brazilian President Luiz Inácio Lula da Silva, who’s credited with lifting approximately 20 million Brazilians out of poverty through initiatives like Bolsa Família, the ties between the two nations have remained robust.
China’s economic influence in Brazil is significant, with Beijing purchasing nearly one-third of all Brazilian exports. Bilateral trade has skyrocketed from $3.2 billion in 2001 to a record $150.5 billion in 2022. Additionally, China stands as a major source of foreign direct investment in Brazil, particularly in sectors such as power generation, oil extraction, telecommunications, financial services, and industry. Between 2007 and 2020, China invested $66 billion in Brazil, accounting for almost half of all Chinese investments in Latin America.
President Lula’s return to power last year has reignited efforts to expand the China-Brazil partnership beyond mere trade. His April 2023 visit to Beijing resulted in 15 agreements and over $10 billion in Chinese investments, paving the way for collaborations in space technology, research and innovation, the digital economy, information technology, the automotive industry, and renewable energy. Wang Yi’s upcoming visit is expected to reinforce these expanding ties, challenging narratives that suggest a decline in Chinese investments in Brazil.
As the two nations celebrate five decades of diplomatic relations, the ongoing cooperation between China and Brazil exemplifies a dynamic and mutually beneficial partnership poised to navigate the complexities of the global landscape.
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Wang Yi's trip to strengthen China-Brazil ties, tackle global issues
cgtn.com
