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The China-Global South Podcast
Update on the State of the BRI in the New "Small and Beautiful" Era
Nov 5, 2024
Lui Kanyi, a Beijing-based project finance lawyer specializing in the Belt and Road Initiative, shares insights into the new "small and beautiful" era of China’s overseas development finance. The discussion delves into how this shift prioritizes connectivity over massive infrastructure projects due to domestic economic challenges and borrowing country debt issues. Kanyi explains the implications for Brazil’s cautious engagement with the BRI and the broader landscape of Chinese trade influenced by geopolitical dynamics and evolving investment strategies.
56:16
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Quick takeaways
- China's Belt and Road Initiative is shifting towards 'small and beautiful' projects that emphasize sustainable, localized development rather than large infrastructure.
- Brazil's cautious approach to the BRI underscores its attempt to engage with China while avoiding excessive economic reliance and protectionist pressures.
Deep dives
Shifts in Brazil-China Relations
Recently, Brazil's relationship with China has encountered unexpected developments, particularly regarding Brazil's potential accession to the Belt and Road Initiative (BRI). Agriculture Minister Carlos Vavaro indicated that the BRI remains an option for Brazil, which aims to diversify its trade partnerships amid challenging protectionist measures. Contrarily, Celso Amorim, an advisor in the Brazilian government, announced that Brazil would not formally join the BRI, highlighting a preference for strengthening ties with China without committing to a treaty. This juxtaposition illustrates Brazil's cautious navigation between engaging with China and maintaining a balanced international trade stance.
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Discover
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