Brazilian leader Luiz Inacio Lula da Silva is set to forge closer ties with Chinese President Xi Jinping during a meeting in Beijing on Friday, a day after he lashed out at the power of the US dollar and the IMF.
The veteran leftist, whose government recently announced a deal with Beijing to trade in their own currencies -- ditching the dollar as an intermediary -- is in China to boost ties with his country's top trading partner and spread his message that "Brazil is back" as a key player on the global stage.
"Why can't a bank like the BRICS bank have a currency to finance trade between Brazil and China, between Brazil and other BRICS countries?... Today, countries have to chase after dollars to export, when they could be exporting in their own currencies." "No bank should be asphyxiating countries' economies the way the IMF is doing now with Argentina, or the way they did with Brazil for a long time and every third-world country," he said.Lula, who took office in January, is looking to reposition Brazil as a global go-between and deal broker, seeking friendly ties across the board after four years of relative isolation under his far-right predecessor, Jair Bolsonaro.
Both countries have refused to join Western nations in imposing sanctions on Russia for its invasion.The Shanghai leg of Lula's trip highlighted another key goal of the visit -- deepening trade ties between the Asian giant and Latin America's biggest economy.
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