Over the past ten years, Brazil has emerged as a major global power capable of wide scale competition in the international marketplace. Being the world’s fifth-largest land mass and the eighth-largest economy, Brazil has become one of the top global producers of market necessities including vegetables, minerals, water, and energy. Brazil’s economic growth correlates with the relative decline of United States influence in Latin America and the rise of new economic powers in Asia. Now, Brazil is looking to exert its force as a global heavyweight with an ambitious foreign policy.
The aspirations of Brazil are driven by remarkable social and economic gains as well as diplomatic achievements. In the past month of November, Brazil’s currency went on a four day streak of appreciation and industrial output rose 0.4 percent. The national statistics agency claimed this was the fastest acceleration in three months. Brazil, being the biggest economy in Latin America, has massive influence over the continent’s economy.
With continued economic growth, there is no doubt Brazil will have the ability to impact key international issues. However, Brazil must be careful with this newly defined international focus and avoid compromising its past success in climate change protection, peacekeeping, and global governance. In the last five years, Brazil has done more than any other country in cutting global warming emissions by dramatically reducing its deforestation. Brazil’s participation in these highly successful projects needs to be continued if Brazil wishes to become an enduring global competitor.
The challenge for Brazil to remain a global power still lies ahead. Brazil must not let its attempts to influence global business expose domestic liabilities including the underinvestment in human capital and innovation. With careful concern, Brazil will look to overcome this challenge and mark itself as a permanent global brand. Brazil’s ambitious drive for international success will then in turn have many positive effects on the global economy.