China's Belt and Road Initiative (BRI) has seen Brazil withdraw from it lately. With this choice, Brazil has made a significant change in how it views foreign cooperation and investment. The second country in the BRICS to oppose the BRI is Brazil, after India. The government of President Lula da Silva is looking to form new alliances with Chinese investors.

Avoiding Analysis of Brazil’s Decision Not to Join the Belt and Road Initiative (BRI)

• BRI is an initiative of China launched in 2013 intended to connect the region through infrastructure and investment.
• Reasons for Brazil not to enter BRI include sovereignty, options to partner, and synergy by passing.
• The Brazilian authorities stress that it is not a treaty, and Brazil will only participate in the projects it needs, whether China likes it or not.
• It may alter the nature of the partnership between Brazil and China, suggesting the preferable form of cooperation.
• Brazil depends on some localization of other BRICS countries’ approaches to the BRI.
• Since the proposal is implemented by Brazil, it could mobilize different types of capital and contribute to a less dependent economy.
• Brazil’s stand is epoch-making in its foreign policy; it is of mutual and coordinated collaboration with China but autonomy.