Brazil withdraws from China's Belt and Road Initiative, joining India among BRICS nations.

Brazil has opted out of China's Belt and Road Initiative (BRI), joining India as the second BRICS nation to do so. President Lula da Silva's government plans to engage with Chinese investors without a formal accession contract, utilizing parts of the BRI framework for its infrastructure projects. This decision contradicts China's expectations for Brazil's involvement during President Xi Jinping's upcoming visit, reflecting concerns about potential political complications and immediate benefits.

October 29, 2024
22 Articles