Mercosur deal will also see bilateral arrangements to reduce taxes for companies in Brazil exporting critical raw materials to Europe, which the EU currently has to source from Russia and China. On the face of it, this may sound a good deal but, when you consider China, as a member of BRICS, has invested heavily in Brazil’s critical minining sector and owns most of the important mines, so the reliance on China is still there, as with most of the worlds.
China’s investment in Brazil has significantly grown and broadened, particularly in other area’s as well such a agri and energy.