Xi Jinping wraps up G20 summit, state visit to Brazil amid growing US-China competition

China's President Xi Jinping, left, and Brazil's President Luiz Inacio Lula da Silva attend a bilateral agreement signing ceremony, at the Alvorada palace in Brasilia, Brazil, Nov. 20, 2024.

As the world’s two largest economies vie for influence in South America, Brazil sits at the heart of the global power struggle. The choices the country makes in the coming years could reshape the region’s economic and political trajectory, according to analysts.