ABSTRACT
One of the central features of Brazil, Russia, India, China, and South Africa (BRICS) is that, except for South Africa, its members symbolize VoC or “new varieties of capitalism”. Through joining BRICS, Brazil was projected from the region to the world as part of the emergent power of the Second World in the international political economy and in the new world order. The deterioration of the Brazilian economy called into question the image of an economic model identified as a “variety of capitalism”. Brazil developed a core-periphery economic-trade relationship with China because, although China has become Brazil’s main trading partner, “there is still no open, balanced and diversified trade in goods and services with high added value”. For Brazil, China would be the most important strategic alliance outside of South America. The creation of Mercosur was a strategic objective for Brazil.
