Rivalry between US, China poses threats to Brazil’s sovereignty — politician

RIO DE JANEIRO, August 21. /TASS/. The intensification of the global economic rivalry between the United States and China creates direct challenges to the independence of South American countries, Jose Dirceu, a close associate of President Luiz Inacio Lula da Silva and chief ideologist of the Workers' Party, said in an interview with TASS. "Washington has already ceded its leading positions to China whose economy surpasses that of the United States in terms of its real scale. However, the United States, with its $33-trillion GDP, colossal military machine, and control over global finances, still remains a powerful hegemon. This global confrontation poses direct threats to Brazilia’s sovereignty," he said. He noted that Latin America’s economy is gradually reorienting itself toward Asia. "All of Latin America is now focused on China, with Beijing being our key investors and export market/ Just look at Colombia or the transportation and logistics corridors connecting South American countries and Brazilian states - the entire region is turning toward the Pacific Ocean," the expert stated. At the same time, he emphasized, in a bid to hold on to its slipping dominance, Washington seeks to contain the development of other countries. "The United States has no intention to let other countries develop and achieve technological independence. And yet, we are now witnessing yet another attempt to cow Brazil into submission. Our response should be to achieve financial sovereignty and establish an independent financial architecture. In fact, this is precisely where the main line of global confrontation lies," he added.