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Belluzzo Advocates Stronger China Alliance and BRICS Bank as a Global Development Lender to Reduce Dollar Dependence

Para escapar do dólar, Belluzzo defende salto na aliança com a China e Banco dos BRICS como ‘BNDES global’
Countries
BrazilChina
Cooperation areas
Economic GrowthInstitutional DevelopmentSustainable Development

Source: Brasil 247 | Original Published At: 2026-11-08 22:55:21 UTC

Key Points

  • Belluzzo called for BRICS members, particularly China, to increase the New Development Bank's capital and lending capacity to support long-term development.
  • He argued that a stronger BRICS development lender could help Global South economies reduce excessive dependence on dollar financing.
  • He advocated Brazil–China cooperation beyond commodity exports, emphasizing reindustrialization, technology transfer and electric and hybrid vehicle production.
  • Belluzzo praised what he described as Brazilian renminbi-denominated Panda Bond issuance and urged its expansion to diversify financing.
  • He described reduced dollar dependence as a gradual process supported by currency swaps and trade settlement in other currencies.
  • He highlighted China's public banking system as an instrument for directing credit toward infrastructure and strategic industries.
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