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The progress made in recent years in the process of South American integration is linked to progressive political projects, especially Brazil's, in the view of the head of the presidential office staff, minister Luiz Dulci, who is participating this week in the American edition of the 6th World Social Forum, in Caracas, Venezuela.
Dulci believes that, although Luiz Inácio Lula da Silva may not have had a direct influence on the election of the large number of leftist presidents who currently hold office in South America, the Brazilian president worked for 25 years on behalf of the continent's political integration and may have served as an "inspiration" to other politicians. Dulci says that he, personally, is exulting over the continent's current political configuration. "It makes us very happy that the left is advancing in South America and Latin America. It is a sign that these societies have an ever-growing level of political consciousness and that they are more and more aware of the problems and challenges they face. This unveils new horizons for our continent." According to the Minister, the existence of this state of affairs is directed linked to the progress of the integration process on the continent. "It is clear that, the more leftist heads of State there are in Latin America, the better the outlook for integration and the better the prospects for economic and social progress. That is undeniable," he affirmed. According to Dulci, the Left is internationalist by definition, whereas the right "is incapable of looking beyond itself." "The causes of social progress and justice around the world are led by the Left." Agência Brasil
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Most of the high growth rates the developing countries had in the last 3 years was ONLY because the USA decided not only to lower their interets rates as never before, they accepted high budget deficits and HUGE HUGE trade surpluses.
Without these decisions, you would have remained at the 2002 level, close to bankruptcy.
Just imagine one second what will happen to the developing countries, should the USA say STOP to trade deficits.
Well, US$ 700 billions of goods produced mainly by deeloping countries would either be produced as surplus and will have to be sold at deep discounts elesewhere, OR thousands of factories will have to be closed, putting you not in a recession but in a depression worse than Argentina was 3/4 years ago !
Tthis would be like an implosion everywhere, the developing countries with the least foreign currency reserves will be hit the first and the hardest.
Brazil has only US$ 53 billion reserves. amount look big, but is very small when you compare to Asian countries. Even South Korea, much smaller in population than Brazil, has many times the foreign currency reserves that Brazil has.
What you have is a simple drop in an ocean.