Currently the United States economy is in a state of financial crisis and the US’s financial woes can be felt around the world. However, the BRIC nations, which are Brazil, Russia, India and China, are a source of stability in the turbulent economic crisis, that is why it is imperative that the US maintains such relations. Jim O’Neil who first coined the term “BRIC” in 2001 exclaims that, “the BRIC consumer is going to rescue the world.” Though the BRIC nations are not superhero’s many economists reassure Americans that the economies of the BRIC nations will be able to withstand the recession, which will benefit the global market. On balance maintain international diplomacy with the BRIC nations has had a positive impact on the United States. The first of the BRIC nations is Brazil. Though a small country, the United States recognized Brazil’s importance, being the first country to recognize Brazil’s independence in 1822. The United States and Brazil have maintained an active and affable relationship, which encompasses a broad political and economical agenda. The United States continues to deepen their relationship, which is reflected in high-level contracts between the two countries. The United States government regards Brazil as a significant power, especially in its role as a stabilizing force in Latin America. The United State’s growing dependence on foreign oil is a major problem for the US economy. Congresswoman Judy Biggert exclaims that, “Our dependence on foreign energy sources is our Achilles heel, not just in the realm of diplomacy, but in terms of our future as the world's economic leader. “In 2008 the US consumed 23 percent of the worlds petroleum, with which 57 percent was imported. In addition, America reported... ... middle of paper ... ...and Trade Relations. Rep. no. RL34161. Washington D.C.: Congressional Research Service, 2007. Print. 8) Meyer, Peter J. Brazil-U.S. Relations. Issue brief no. RL33456. Washington D.C.: Congressional Research Service, 2010. Print. 9) Pace, Julie. "China Agrees to Purchase Billions in US Goods - Yahoo! News." The Top News Headlines on Current Events from Yahoo! News. Web. 22 Jan. 2011. . 10) "Russia." U.S. Department of State. Web. 20 Jan. 2011. . 11) "The United States and Russia in a New Era: One Year After "Reset"" U.S. Department of State. Web. 20 Jan. 2011. . 12) "U.S.-India Trade Relations —." USDA Foreign Agricultural Service (FAS). Web. 20 Jan. 2011. . "
Globalisation has been crucial to the economic and social development of Brazil. In the late twentieth century Brazil face years of economic, political and social instability experiencing high inflation, high income inequality and rapidly growing poverty. However after a change of government in the 1990s and large structural changes in both the economic and social landscapes, the brazilian economy has been experiencing a growing middle class and reduced income gap. Since the start of the 21st century, brazil has benefitted from the move to a more global economy.
... K. Manchester is an authority on the history of Brazil and its relations with Great Britain. In an article entitled, “The Recognition of Brazilian Independence”, Manchester argues, “the struggle for independence in Brazil was influenced decisively by the intimate and unique ties which bound Portuguese America to Europe.”; independence was ultimately won by diplomacy. In his letter to John Jay, Thomas Jefferson cautiously explores the possibilities of engaging in a war with Portugal for the independence of Brazil and recognizes that the colony cannot conduct a revolution without the help of a powerful nation. Brazil considered the North American revolution a precedent for theirs. Jefferson maintained that the United States was not in any condition to engage in war. Jefferson's letter helps discredit the United States as Brazil’s primary benefactor during this time.
The two nation-states of Brazil and Germany differ in many ways: economically, politically and socially. Germany's powerful economy, rich and wealthy society, and efficient government have put the country as a leader in the international scene. On the other hand, Brazil is still yet to emerge as a true democracy and is faced with a lot of problems. This paper is focused on political differences that both of the states have.
Almost every single nation in our world today, the United States included, is extremely reliant on oil and how much of it we can obtain. Wars have been started between countries vying for control of this valuable natural resource. The United States as a whole has been trying to reduce its reliance on foreign oil and has had some success, especially with the discovery of the Bakken formation and projects like the Keystone Pipeline.
Arguments: America is dependent on other nations for their ability to create energy. The United States is the world’s largest consumer of oil, at 18.49 million barrels of oil per day. And it will continue to be that way for the foreseeable future, considering the next largest customer of oil only consumes about 60% of what the U.S. does. This makes the U.S. vulnerable to any instability that may arise in the energy industry. In 2011, the world’s top three oil companies were Saudi Aramco (12%), National Iranian Oil Company (5%), and China National Petroleum Corp (4%).
Due to its high population rate (large labour pool), its vast natural resources and its geographical position in the centre of South America, it bears enormous growth potential in the near future. Aligned with increasing currency stability, international companies have heavily invested in Brazil over the past decade. According to CIA World Factbook, Brazil had the 11th largest PPP in 2004 worldwide and today has a well established middle income economy with wide variations in levels of development. Thus, today Brazil is South America's leading economic power and a regional leader. 2.
Although Brazil’s key advantage is their abundance in natural resources, they do not fully utilize their competitive advantage. In order for a nation to compete nationally, they must also need to constantly generate, upgrade, innovate, and efficiently distribute their factor endowments. Their trading policies causes barriers that restrict
The United States has had several scares throughout its history in terms of oil, most turn out to be over exaggerations of a small event. However, these scares highlight a massive issue with the U.S. and that issue is the U.S.’s dependence on foreign oil. Why does it matter that our oil should come from over seas? In a healthy economy this probably wouldn’t be as relevant, but the U.S.’s economy is not exactly healthy at the moment. There are 4 things that I would like to address: what the problem is, how it affects us, what some solutions are, and what solutions I feel are best.
In 1822, Brazil became a nation independent from Portugal. By far the largest and most populous country in South America, Brazil has overcome more than half a century of military government to pursue industrial and agricultural growth and development. With an abundance of natural resources and a large labor pool, Brazil became Latin America's leading economic power by the 1970’s. Brazil is located in Eastern South America, bordering the Atlantic Ocean. It is slightly smaller than the U.S., with bordering countries Argentina, Bolivia, Columbia, French Guyana, Guyana, Paraguay, Peru, Suriname, Uruguay, and Venezuela.
Currently, the most important factor in the rise of gas prices is the increasing cost of crude oil. Unfortunately, the United States has three percent of the world’s oil reserves. (Horsley) In 2009, the United States was third in crude oil production as well as the world’s largest petroleum consumer. (e. I. Administration) Such consumption required and still requires the United States to import petroleum/crude oil from other countries.
The U.S dependency on foreign oil presents many negative impacts on the nation’s economy. The cost for crude oil represents about 36% of the U.S balance of payment deficit. (Wright, R. T., & Boorse, D. F. 2011). This does not affect directly the price of gas being paid by consumers, but the money paid circulates in the country’s economy and affects areas such as; the job market and production facilities. (Wright, R. T., & Boorse, D. F. 2011). In addition to the rise in prices, another negative aspect of the U.S dependency on foreign crude oil is the risk of supply disruptions caused by political instability of the Middle East. According to Rebecca Lefton and Daniel J. Weiss in the Article “Oil Dependence Is a Dangerous Habit” in 2010, the U.S imported 4 million barrels of oil a day or 1.5 billion barrels per year from “dangerous or unstable” countries. The prices in which these barrels are being purchased at are still very high, and often lead to conflict between the U.S and Middle Eastern countries. Lefton and Weiss also add that the U.S reliance on oil from countries ...
Significance: The United States must face the fact that the world is running out of oil and with today’s rising oil prices, economic and political instability in regions where the United States gets the majority of its oil, this country must begin looking into alternative means of energy to replace oil and end our dependence on foreign powers.
The BRICS “has come to symbolize the growing power of the world’s largest emerging e...
Roberts, Cynthia, “Polity Forum: Challengers or Stakeholders? BRICs and the Liberal World Order”, Polity, Vol. 42, No. 1, 2010.
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