China and Brazil signed a memorandum of understanding, Chinese state media reported on Wednesday, to explore the possibility of jointly building a transcontinental railroad from the east coast of Brazil to the west coast of Peru — directly to a port funded and partially owned by Beijing.
The Chinese state-run Global Times cited trade experts who predicted that the completed railroad could “shorten export times from Brazil to Asia by up to 10 days” and potentially offer an “alternative to the Panama Canal” for China to ship its goods to Atlantic ports.
The Chancay port project was concluded under the administration of former President Joe…
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