Brazil’s Transport Ministry announced on Monday, July 7 that it has signed a Memorandum of Understanding with the state-run China Railway Economic and Planning Research Institute to initiate technical and other studies for the construction of a bi-oceanic rail corridor which will link the Brazilian port of Ilheus on the Atlantic Coast, with Peru’s Chancay megaport on the Pacific. China and Peru inaugurated the Chancay port with great fanfare in November 2024.
The rail corridor means that China’s Belt and Road Initiative has finally arrived in a big way in Ibero-America. It will vastly increase the efficiency of Brazil’s huge exports of soy, iron ore and other products to China. Moreover, it will open up the vast interior of South America to industrial development.
The bi-oceanic rail corridor is the decisive great project for Ibero-America which the Schiller Institute and the LaRouche movement have promoted for decades.
The announcement is a fine note on which to conclude the BRICS summit in Brazil. There will be no joy in London and Wall Street tonight.
