Brazil, The emerging!!!

Brazil represents the largest Latin American economy and the second-largest emerging market economy (behind China) present at the G-20 summit. In a recent interview (video), President Luiz Inacio Lula da Silva argued that the United States needed to shore up its banks and called for "bold action" from U.S. President Barack Obama, citing Japan's experience in the 1990s as a critical lesson about what could happen if Obama does too little to confront the crisis. CFR's Julia Sweig says Brazil's top objective at the summit will be to "establish Brazil as the leading voice for the developing world." He will likely push for more flexible access to the IMF and other forms of multilateral funding for developing countries, Sweig says. He may also make strong statements on trade issues, she says--both the need for increased trade financing and the goal of limiting trade protectionism. "This crisis, paradoxically, while hurting domestically, may well enhance Brazil's standing as a leader in and voice for the emerging world," Sweig says. Photo by BBC. Source CFR. By Ton.

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