Over the last 12 months, we have written at length about Brazil’s over-dependence on China. In a matter of just a few years, the Asian behemoth rose from being a small trading partner to Brazil’s number one importer and exporter. Over 26 percent of Brazilian products sold abroad go to China—regarding commodities alone, the rate goes up to nearly 50 percent. Thanks to Beijing, Brazil was able to amass a USD 6.5 billion trade surplus over the first four months of 2019.
