Good morning! We’re covering the BRICS Summit in Brasília. How President Bolsonaro’s new party impacts Brazilian politics. And governors from the Northeast seek investments in Europe. (This newsletter is for platinum subscribers only. Become one now!)
After 10 years, how can the BRICS remain relevant?
Today and tomorrow, Brasília will host the 11th BRICS Summit. President Jair Bolsonaro meets with heads of state Vladimir Putin (Russia), Narendra Modi (India), Xi Jinping (China), and Cyril Ramaphosa (South Africa) in what should be a low-key event.
Why it matters. Despite the lack of fanfare of previous years, this event will be latest stage in the rapprochement between China and Brazil.
No hurt feelings? As a candidate, Jair Bolsonaro was notable for his aggressive stance on China. As a president, however, he was forced to tone down his criticism and visited Beijing last month, in what was considered to be a very productive meeting with President Xi. Now, it is time for the two countries to show they are all-weather friends once more.
Avoid confrontation. Brazil’s new diplomatic agenda has deflated the event—with the country insisting on automatic alignment with the U.S. Matters such as Venezuela—on which Brazil disagrees with China and Russia—will...