Chinese Leader: “Me Gusta Sudamérica”

Beijing is on a charm offensive at the moment.  In the wake of a major diplomatic victory, where they convinced over 50 countries to join its new Asian Infrastructure Development Bank (recently featured on Frontera), China has been laying groundwork for major and symbolic infrastructure projects in emerging markets.

Premier Li Keqiang traveled to Brazil, where he discussed plans to build the Twin Ocean Railroad – a US$ 10 billion trans-continental railway that will connect Brazil’s Atlantic port of Porta do Açu with Peru’s Puerto Ilo on the Pacific coast.  According to Reuters, when completed the railway will reduce costs of Brazilian grain exports to China by as much as US$ 30 per ton.

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