When Roger and I traveled to Brazil during the 1990s, locals characterized the country as “a sleeping giant — just about to awaken.”
The well-respected investment firm of Goldman Sachs has given the designation of “BRIC” to the emerging economies of Brazil, Russia, India and China. In fact, the investment leader even offers an index fund of BRIC investments. The fund was created to tap these countries’ “tremendous growth potential.”
Recently, Stephen Aguilar-Millan, director of research for the European Futures Observatory in the United Kingdom, highlighted the significant lack of Western press attention given to Brazil, compared to that given to Russia, India and China. He conducted his own informal research and discovered that since 1997, The Economist magazine has featured 2,282 articles about Brazil, compared to 3,762 about India, 4,640 about Russia and 6,845 about China.
Aguilar-Millan adjusted “for continental bias” by looking at U.S. magazine Foreign Affairs and found strikingly similar results. While Brazil had 355 articles written about it, India had 603, Russia had 868 and China had 1,076.
“On the face of it, there is a case to say that Brazil is being ignored in the Western press” Aguilar-Millan said.
However, further examination of the situation yields a slightly different conclusion.
“(Although) Brazil does have vast potential in terms of resources … it lacks the population mass of China and India and the military tradition of Russia,” Aguilar-Millan said.
Thus, it is unlikely to be a major geopolitical force within the next 15 or so years. Brazil’s participation in MERCOSUR not withstanding, its 4 percent Gross Domestic Product growth for 2007 is dwarfed by the rates of increase in India and China.
Thanks to the now cautious policies of the Brazilian government, inflation is no longer the front burner issue it used to be. Moreover, Brazil’s wealth of resources in oil, gas and biofuels position it well to handle a decline in the global economy.
We expect Brazil soon to garner more attention on the global stage.
From The Herman Trend Alert, by Joyce Gioia-Herman, strategic business futurist. www.hermangroup.com