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BRAZIL BACKS OUT OF CHINA ROAD INITIATIVE
The Free Press Journal
|October 30, 2024
In a major setback to China's BRI (Belt and Road Initiative), Brazil has decided against joining Beijing's multi-billion-dollar initiative, thus becoming the second country after India in the BRICS bloc not to endorse the mega project.
Brazil will seek alternative ways to collaborate with Chinese investors, Celso Amorim, special presidential adviser for international affairs, said on Monday, the PTI reported.
Brazil wants to "take the relationship with China to a new level, without having to sign an accession contract," he told Brazilian newspaper O Globo.
"We are not entering into a treaty," Amorim said, explaining that Brazil does not want to take Chinese infrastructure and trade projects as "an insurance policy".
This story is from the October 30, 2024 edition of The Free Press Journal.
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