The Brazil China trade relationship is something we should be focused on if we want to make sure communist China doesn’t continue to corner the rare earths and other commodity markets.
The Brazilian state of Minas Gerais has signed a protocol of intent with Sul Americana de Metais, a unit of Chinese miner Honbridge Holdings, for the construction of a 9.1 billion reais ($2.2 billion) mining complex, newspaper O Estado de Sao Paulo reported on Saturday.
The agreement, signed on Thursday, will include the construction of a 845 million square meters (208,804 acres) dam, which will be one of the largest in Brazil, according to the report.
That “mega-dam” would be some 70 times bigger than the tailing dam that collapsed at Vale’s site in the Minas Gerais town of Brumadinho in January, which resulted in the deaths of more than 240 people.
What do you want to bet that the Chinese gave Brazil a sweet deal on a loan but are requiring the dam to be built with mostly Chinese labor? China is expanding its influence and its providing jobs for its people at the same time. Why is our President not making an offer to build a dam for Brazil? I know. He’s too busy with pushing regime change in Iran. Meanwhile, the Brazil China trade relation continues to grow.