The Seattle Times was yesterday full of praises for Brazil’s leading position as a major economy. Tyler Bridges talks about Saturday’s G-20 summit in Washington and how President Lula is trying to convince G7 countries leaders to give a bigger say to developing countries. The idea is to create a permanent G14, including Brazil, Russia, China, Mexico and India. It goes on to justify Brazil’s larger ambitions:
With the world’s 10th-biggest economy, Brazil has surpassed the United States as the biggest producer of iron ore and coffee. It’s become the world’s biggest exporter of beef, poultry, biofuels and orange-juice concentrate, and is rapidly gaining in soybeans, corn and pork.
Brazil also has accumulated $200 billion in foreign reserves, almost as much as the rest of Latin America combined. That money will help cushion the global meltdown. Now, Brazil wants to be recognized for its fiscal track record and to avoid the risks that come with a global economic crisis.
“Brazil has new standing in the world,” said Rubens Barbosa, a private consultant in Brazil who’s served as the ambassador to the United States. “We think we can contribute more.” Quietly, Brazil already has become the most powerful country in Latin America.