IBOV 171,031.73 ▲ 1.85% IPSA 11,338.38 ▲ 0.89% IPC MEX 65,729.18 ▲ 2.14% MERVAL 2,913,184 ▲ 1.30% COLCAP 2,459.23 ▲ 0.61% BVL PERÚ 58,698.13 ▲ 2.60% USD/BRL5.14▲ 0.02% USD/MXN16.94▲ 0.15% USD/CLP914.28— 0.00% USD/COP3,038▼ 0.15% USD/PEN3.36▲ 0.05% USD/ARS1,499▼ 0.03% USD/UYU40.20▲ 1.52% USD/PYG5,996▲ 1.39% USD/BOB11.43▲ 0.51% USD/DOP58.61▼ 0.07% USD/CRC450.05▲ 1.95% USD/GTQ7.62▲ 2.13% USD/HNL26.81▲ 1.55% USD/NIO36.62— 0.00% USD/VES782.70▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.71▲ 0.82% EUR/BRL5.98▼ 0.31% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 171,031.73 ▲ 1.85% IPSA 11,338.38 ▲ 0.89% IPC MEX 65,729.18 ▲ 2.14% MERVAL 2,913,184 ▲ 1.30% COLCAP 2,459.23 ▲ 0.61% BVL PERÚ 58,698.13 ▲ 2.60% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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BRICS: Brazil’s Position Within the Anti-U.S. and pro-Venezuela Bloc

By · July 29, 2019 · 3 min read

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RIO DE JANEIRO, BRAZIL – As a member of BRICS, the largest group of emerging economies, Brazil coexists with nations that are opposed to issues that are sensitive to the Bolsonaro government in the international scenario. These countries are also among the main adversaries of the USA, regarded as the preferred partner by the Brazilian government and with whom the current administration maintains an ideological alignment.

The presidents of the BRICS member States.
The presidents of the BRICS member states. (Photo internet reproduction)
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Of all the G20 nations, only five acknowledge Nicolas Maduro as Venezuela’s rightful president. Of these, three are members of BRICS: South Africa, China, and Russia (India, the other member of the bloc, holds a neutral position concerning Venezuela). The Russians also maintain a strategic military partnership with the Maduro regime.

Brazil, on the other hand, together with the United States, has been one of the main drivers for deposing Maduro. Additionally, the Americans are in a trade war with the Chinese, have a historical record of friction with Russians and have also recently diverged from the Indians in the economic area.

How is Brazil dealing with its BRICS partners, so seemingly misaligned with its new foreign policy? Pragmatically, ignoring ideological issues or only marginally addressing them to prioritize trade and strategic partnerships.

How is Venezuela viewed by the BRICS? According to an Itamaraty source who spoke in a confidential capacity, the stalemate with Venezuela is not a problem for the unity of the BRICS because the member countries do not expect agreement on foreign policy issues.

The source further states that the member countries agree on some aspects of Venezuela’s situation, such as the Venezuelan people’s desire for stability, economic recovery, and well-being.

Another political disagreement between the current Brazilian government and the other BRICS lies in the relationship with the USA. President Jair Bolsonaro and foreign minister Ernesto Araújo have a close ideological alignment with current U.S. leaders, which makes Brazil an exception within the bloc.

President Jair Bolsonaro and Minister Ernesto Araújo have a close ideological alignment with current US leaders.
President Jair Bolsonaro and foreign minister Ernesto Araújo have a close ideological alignment with current U.S. leaders. (Photo internet reproduction)

China and Russia, aside from their historical differences with the USA, have had a “criticize then praise” relationship with Donald Trump’s administration: they rehearse truce and exchange barbs.

India’s relationship with the Trump management is not smooth. A few weeks ago, the Indians lost the special trade status they had with the U.S., which exempted them from tariffs on exports to the U.S. In response, India has imposed higher tariffs on some products from the United States.

Can differences hinder Brazil’s relationship with the other BRICS?

Even with such distinct positions concerning the U.S. and Venezuela, Brazil will have no difficulty in negotiating with BRICS, says the same Itamaraty source.

Regarding a potential slowdown in Brazilian interest in BRICS as a result of the closer relationship with the U.S., the source says that BRICS remains “a priority: it’s an important bloc of countries with a consistent cooperation agenda.”

Other Brazilian guidelines with the BRICS: the priority issues for Brazil’s current presidency for the bloc are science and technology, innovation, digital economy, and the BRICS bank, the New Development Bank, which will soon have a regional office in São Paulo.

Another issue of interest to Brazil is the fight against transnational crimes, particularly in counterterrorism, anti-corruption, and asset recovery.

In the field of science and technology, the BRICS are creating a cooperation network named iBrics, which aims to encourage partnership between business incubators and medium-sized companies. The network will formally come into existence after the BRICS Summit, which will be held in Brasília on November 13th and 14th this year.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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