Abstract
Since 2009, China has maintained its position as Brazil’s largest trading partner. In addition, Chinese investments in Brazil have grown significantly since 2010, bringing with them new perspectives for the economic development of both countries.
Since 2009, China has maintained its position as Brazil’s largest trading partner. In addition, Chinese investments in Brazil have grown significantly since 2010, bringing with them new perspectives for the economic development of both countries. In this chapter, we analyze Sino-Brazilian economic relations from an historical perspective, discussing the range and nature of China-financed projects in Brazil as well as the impact of the Chinese economic growth in Brazil. In our research, we have identified strategic sectors with a potential to strengthen bilateral relations, including, but not limited to, value addition and production, green agenda, education, science, technology, and innovation. We also provide future trends regarding their economic relations and conclude with suggestions to make those relations a win–win game for the two countries. The relevance of Sino-Brazilian relations concerns not only those two countries, but is also part of a larger context, relating to the dispute for influence between the United States and China throughout Latin America. The COVID-19 pandemic created a new limitations and opportunities, though the general trends identified in the chapter remain.
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Notes
- 1.
According to Comexstat, available at http://comexstat.mdic.gov.br/pt/comex-vis, last access on 7 May 2021.
- 2.
Based on data provided by Comexstat, we calculated Brazil’s trade surplus overall, which amounted to US$ 50.39 billion in 2020, and that originated specifically from the trade with China, which reached US$ 33 billion in the same year. In 2021, from January to July, Brazil’s overall trade surplus was US$ 44.36 billion, and its trade surplus with China throughout the same period was US$ 29.8 billion. See http://comexstat.mdic.gov.br/pt/geral, access on 2 September 2021.
- 3.
http://comexstat.mdic.gov.br/pt/comex-vis, access on 9 February 2021.
- 4.
See the Trade Map at https://www.trademap.org/Bilateral.aspx?nvpm=1%7c156%7c%7c076%7c%7cTOTAL%7c%7c%7c2%7c1%7c1%7c1%7c1%7c1%7c1%7c1%7c1%7c1. Access on 9 March 2021.
- 5.
Launched in the end of 2017, RenovaBio is managed by the Ministry of Mines and Energy, which regards the program as a mechanism to fulfill Brazil’s commitments at the 2015 Paris Agreement on climate change, by expanding the participation of biofuels into the country’s energy matrix and providing more predictability for the market of fuels around the country. Its main functioning method is through annual, national decarbonization targets, set according to Brazil’s targets for the Paris Agreement (according to the official website of Brazil’s National Agency for Petroleum, Natural Gas and Biofuels—http://www.anp.gov.br/producao-de-biocombustiveis/renovabio, access on 2/18/2021). The expansion of biofuels across the Brazilian market will amplify the potential for cooperation with China in the foreseeable future.
- 6.
Reuters (https://www.reuters.com/article/brazil-china-investment-idUSL4N1RI4YT), access on 11/24/2020.
- 7.
Agência Brasil (https://agenciabrasil.ebc.com.br/en/economia/noticia/2017-06/brazil-china-fund-now-operational-20-billion), access on 11/25/2020.
- 8.
At the moment, the Fund is currently being reassessed by the Brazilian government and is therefore not operational. For recent news on the Fund, see: https://dialogochino.net/en/trade-investment/brazil-china-fund-yet-to-back-one-project-six-years-on/.
- 9.
https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?locations=CN-BR, access on 25 November 2020.
- 10.
See World Bank (https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=CN), access on 26 November 2020.
- 11.
According to Comexstat’s “ComexVis” search tool (http://comexstat.mdic.gov.br/en/comex-vis), access on 26 November 2020.
- 12.
https: //www.nsf.gov/statistics/seind/
- 13.
- 14.
According to Reuters, available at https://www.reuters.com/article/us-brazil-violence-cocaine-specialreport-idUSKBN20Z1DP. Last access on 5/5/2021.
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Arbache, J., Condi, G. (2023). Sino-Brazilian Relations. In: Schneider, A., Teixeira, A.G. (eds) China, Latin America, and the Global Economy. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-18026-2_11
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