Petrobras

“China isn’t buying in Brazil. China is buying Brazil,” Jair Bolsonaro, the right-wing forerunner in Brazil’s presidential election, said on Oct. 9

Tensions are high on the eve of political protests planned around Brazil on Sunday by supporters of the governing Workers’ Party and those who want to see President Dilma Rousseff impeached.

Thousands of Brazilians marched Sunday to demand that Congress impeach President Dilma Rousseff, whose government is plagued by an overwhelming corruption scandal and a dismal economy.

Lawmakers scuffled on the floor of Brazil’s lower house Tuesday during an attempt to block a vote on forming a commission that will determine if impeachment proceedings against President Dilma Rousseff should go before the full body.

Impeachment proceedings were opened Wednesday against Brazilian President Dilma Rousseff by the speaker of the lower house of Congress, a sworn enemy of the beleaguered leader.

Operation Car Wash, the investigation into the misuse of funds within Brazil’s oil giant Petrobras, is over a year old—but it is still unabated.

Brazilian oil giant Petrobras put a number to its losses Wednesday, showing an overall loss of $7.2 billion.

When Brazil’s largest and most valuable company saw a corruption scandal threaten its financial health, it called on China for help. China was happy to provide needed funds, as it has been doing throughout Latin America in recent years.