All of the world's population growth is going to occur in the developing world. That is where the expanding markets and the manpower will be, and that is where attention must be given now. To spread the benefits of globalization to all people requires a coordinated effort among the leading industrial nations by international institutions, and above all by the developing nations themselves. It is vital that they nurture the kind of institutions, and follow the kind of macroeconomic policies that can attract international capital by being safe, attractive places for investment. The challenge of globalization has special resonance in Brazil.
Brazil is one of the leading emerging market economies in the world.
It is more than just the economic leader of Latin America. It is much of Latin America, with 52 percent of its land area and 55 percent of its people. Although foreign trade is a small share of Brazil's economy, the size of that economy means that its neighbors benefit from Brazilian growth. One-third of the exports of Argentina, for example, go to Brazil. Brazil is also central to Mercosur, which has been a major force for regional integration and trade liberalization.