Two decades ago, Brazil was called the country of the future, with a population of over 210 million inhabitants, with a vast territory that makes it the 5th largest in the world and with a huge supply of food and natural resources, it was positioning itself to be named one of the main emerging economic powers in the world. In 2009, it even became the 6th largest economy in the world, surpassing the United Kingdom. In addition, in the early 2000s, british economist Jim O'Neill created the term BRIC in reference to Brazil, Russia, India and China, which, according to O'Neill, would be the countries that would dominate the world economy by 2050. However, despite the predictions, it seems that Brazil is the country of the future, but it will always be. Because despite its potential, there are reasons to believe that it will never be a superpower, at least at the level of China or India. In the last decade, its GDP per capita remained practically the same, in other words, its GDP per capita in 2022, was almost the same as in 2013. And on the other hand, the country was in the news more for its political instability and corruption cases. So the questions are: what was the event that made people think that Brazil was going to be a superpower? But why is it ultimately unable to be more than just a regional power?
#economicsnation #brasil
