China recorded its largest deficit in February since 2004. Though nothing suggests China is inevitably on the path toward consecutive deficits, such a development would be quite significant.
China has ambitious plans to free itself from its dependence on foreign sources of iron ore. Even so, it is not likely to escape this dependence any time soon.
The path Brazil takes to resolve the crisis of its strong currency will determine whether it can realize its geopolitical opportunity to dominate South America's southern cone.
