Trade
Brazil Should Join China’s Belt and Road Initiative, Agriculture Chief Says
- Program would help counter EU, US protectionism, Favaro says
- Chinese initiative has sparked debates inside Lula government
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Agriculture Minister Carlos Favaro said Brazil should join China’s Belt and Road Initiative to counter protectionist measures from the US and European Union, an idea that has divided President Luiz Inacio Lula da Silva’s government as it seeks to attract new investment to Latin America’s largest economy.
The idea of joining China’s flagship global trade and infrastructure program has caused debates within the leftist Lula government, with some ministers arguing it is necessary to attract massive new investments while others fear the partnership could dent existing relations with the US and EU.