UPI: The wide range of economic collaboration agreed between Brazil and China gives Beijing a much vaunted foothold in Latin America, opening possibilities for business and export expansion, investment in joint projects and military sales.
Analysts said neither of the other two BRIC nations at the summit, India and Russia, could match Beijing in terms of access to cash and extent of business opportunities in a growing consumer market, as in China.
The BRIC summit, the second since last year, looked at alternatives to the U.S. dollar as the world's reserve currency and ways of engineering economic and political shifts to achieve its avowed goal of a multipolar world order -- a system independent of Western pre-eminence.
Agreements reached Thursday between Brazil and China include a plan to study the use of the Brazilian real and the Chinese yuan, instead of the U.S. dollar, in bilateral trade.
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Comment: A new symbiosis is in the making. Brazil is going to substitute the US. While the old symbiosis between China and the US has enriched China at the cost of the US, the new symbiosis of China with Brazil will be more balanced. Brazil has much of all those things that China urgently needs, and vice versa.
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