Happy Friday! Today, foreign policy is back on the menu for Brazil as Bolsonaro seeks to mend fences with Asia. Meanwhile, a surprise decree to raise financial transactions tax has markets fearing Dilma 2.0. Latest opinion polls are in, and it’s bad news for the federal government.
Bolsonaro sets his eyes on Asia
For the better part of his presidential term, Jair Bolsonaro has created many rifts with China. From raising suspicions around Chinese investment in Brazil to suggesting that the Asian giant created the coronavirus in an act of biological warfare, Mr. Bolsonaro has done little to cajole Brazil’s biggest trading partner.
- This appears to have changed. Diplomatic sources within the Brazilian government tell The Brazilian Report that the president has agreed to cease hostilities.
Baby steps. During last week’s BRICS Summit, Mr. Bolsonaro praised Brazil’s partnership with China in the pandemic fight. More importantly, though, was the decision not to ban Huawei from the upcoming 5G auction.
- Pressured by the White House to issue a ban, the administration reached a compromise, setting up two separate 5G networks in the country: one for government agencies (for which Huawei would not qualify as a provider) and another for...