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1 Fretting corrosion is primarily a surface damage phenomenon occurring as a result of small cyclic movements between two materials caused by cyclic loading. Fretting damage can occur in vacuum, although it then would be better to speak of fretting, rather than fretting corrosion.
The term caustic can also mean corrosive.. This type of brake fluid can be corrosive to some paints, chromes, and plastics. It also can cause irritation when exposed to skin, and is toxic if ingested. I suspect this is why brake fluid is labeled as caustic. Regarding your question about pH: it doesn't apply. pH is a measure of the H+ ions in an aqueous (water) solution. The lower the pH, the greater the content of H+ ions in the water, and the more acidic it is.