When Chinese premier Li Keqiang swept through Brazil this week, he and his Brazilian counterpart, President Dilma Rousseff, sought to make an impression by unveiling deals worth $53bn.
But much of this package consisted of old announcements reheated to look more appetising, especially to a Brazilian public worried about sinking economic growth.
Take the exciting news that China would lift an embargo on Brazilian beef, for instance. Introduced in 2012 because of fears over “mad cow” disease, China and Brazil first signalled the lifting of the embargo on Brazilian beef exports last July. They then announced it again in December. Now they are promising it will be fully lifted by next month.
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