Speak Softly and Carry a Blank Cheque

Thanks to strong global demand for its agribusiness and industrial commodities, Brazil is one of the world's largest emerging markets and one of the rising BRIC four – along with Russia, India and China. Goldman Sachs predicts the combined economies of the four will exceed the G-7 total by 2032. With such economic power, Brazil extends several billion in development aid to other countries, even though the nation continues to receive foreign aid and has more than 50 million poor of its own. Brazilian law prohibits passing public funds to other governments, so the development aid requires maneuvering. The Economist asserts the aid allows Brazil to compete with China and India for “soft-power influence” in the developing world, develop a global market for ethanol and improve chances of securing a permanent seat on the UN Security Council – all of which will boost Brazil’s power and may eventually assist the nation’s poor. – YaleGlobal