NSA spying may have leaked sensitive information on purpose to destabilize the Brazilian development agenda -- which includes, in the case of Petrobras, the exploration of the largest oil deposits (the pre-salt) found so far in the young 21st century.
What is unraveling is so crucial because Brazil is the second-biggest economy in the Americas (after the US); it is the biggest Latin American commercial and financial power; it hosts the former second-biggest development bank in the world, BNDES, now overtaken by the BRICS bank; and it also hosts the biggest corporation in Latin America, Petrobras, also one of the world's top energy giants.
The hardcore pressure against Petrobras comes essentially from US shareholders -- who act like the proverbial vultures, bent on bleeding the company and profit from it, allied with lobbyists who abhor Petrobras's status as the priority explorer of the pre-salt deposits.
In a nutshell, Brazil is the last great sovereign frontier against unbounded hegemonic domination in the Americas. The Empire of Chaos had to be annoyed.
The constantly evolving strategic partnership of the BRICS nations has been met by Washington circles not only with incredulity but fear. It's virtually impossible for Washington to do real damage to China -- but much "easier," comparatively, in the case of Brazil or Russia. Even though Washington's wrath targets essentially China -- which has dared to do deal after deal in the former "America's backyard."
Once again, the Chinese strategy -- as much as the Russian -- is to keep calm and carry a "win-win" profile. Xi Jinping met with Maduro in January to do -- what else -- deals. He met with Cristina Kirchner in February to do the same -- just as speculators were about to unleash another attack against the Argentine peso. Now there's Li's visit to South America.
Needless to say, trade between South America and China continues to boom. Argentina exports food and soya beans; Brazil the same, plus oil, minerals and timber; Colombia sells oil and minerals; Peru and Chile, copper, and iron; Venezuela sells oil; Bolivia, minerals. China exports mostly high-value-added manufactured products.
A key development to watch in the immediate future is the Transul project, which was first proposed at a BRICS conference last year in Rio. It boils down to a Brazil-China strategic alliance linking Brazilian industrial development to partial outsourcing of metals to China; as the Chinese increase their demand -- they are building no less than 30 megalopolises up to 2030 -- that will be met by Brazilian or Sino-Brazilian companies. Beijing has finally given its seal of approval.
So the long-term Big Picture remains inexorable; BRICS and South American nations -- which converge in the Unasur (The Union of South American Nations) -- are betting on a multipolar world order, and a continental process of independence.
It's easy to see how that is oceans away from a Monroe doctrine.
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