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Look east and south: Witness the end of post-colonialism

Article by Doug Saunders (The Globe and the Mail)

“While the western and northern quarters of the world were enjoying their debt-fuelled winter holidays, a set of transactions took place to the east and south that simply could not have been imagined a few years ago. […]

Brazil saw the swearing-in of a new president, Dilma Rousseff, who is best known for being a former guerrilla rebel against Brazil’s military dictatorship. […]

She also, tellingly, authorized a deal in which the huge Chinese company State Grid purchased seven of Brazil’s electrical-transmission utilities for $1-billion, essentially putting the country’s electrical-distribution grid under Chinese ownership, even though her government had weeks earlier placed import tariffs on Chinese toys during the Christmas season in order to avoid hurting her country’s trade surplus. In the poor half of the world, trade relations are not a matter of simple tit-for-tat retaliations. […]

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