It is by no means certain that Mexico's loss will be Brazil's gain. One of the operational partnerships which Brazil most requires is a strong Mexico with sustainable growth. We enjoy the most fruitful of relationships with Mexico, and trade between our two countries annually exceeds one billion dollars. However much one may be tempted to believe that Brazil may benefit from the diversion of investment flows previously directed towards Mexico, we must first determine, from the of macro-economic policy perspective, whether we desire or are able to absorb this hypothetical rise in foreign capital investment, with the monetary and exchange repercussions it may bring. We wish to attract productive investment by means of our economic virtues, and not as the result of circumstantial problems affecting one of our partners.
Brazil stands to gain much from economic stability throughout Latin America.
The example of the Pacific rim countries of Asia should be our guide at this time. Secondly, it is true that the Mexican crisis has affected us, and that this is reflected in the figures, in that it sent a signal to international investors which they interpreted as a warning in relation to all of this Continent. Even if the current Mexican crisis bears little resemblance to the crisis of 1982, withdrawal is the most obvious and prudent response on the part of investors, which in turn explains the reaction of stock markets all over the Continent, and especially in Brazil. The following step, undoubtedly, will be a more thorough evaluation of the crisis, its causes and implications, and the reactions of other markets. In this stage it is the difference which will stand out.