Brazil has decided against joining China’s multi-billion-dollar Belt and Road Initiative (BRI) becoming the second country after India in the BRICS bloc not to endorse the mega project.
Key points
- The prevailing opinion in Brazil was that joining China’s flagship infrastructure project would not only fail to bring any tangible benefits for Brazil in the short term but could also make relations with a potential Trump administration more difficult.
- BRICS originally consisted of Brazil, Russia, India, China and South Africa. Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates have been admitted as new members.
- Brazil will be the second member of the BRICS after India not to endorse the BRI.
- India was the first country to voice reservations and stood steadfast in its opposition to BRI, a pet project of Chinese President Xi Jinping to further the global influence of China with investments to build infrastructure projects.
- India has protested against China for building the China-Pakistan Economic Corridor (CPEC), stated to be the flagship project of the BRI through the Pakistan-occupied Kashmir (POK) in violation of its sovereignty.
