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Cover Politics in the Developing World

4. The Developing World in the Global Economy  

Robert Ahearne

This chapter examines the role of developing countries in the contemporary global economy. It first provides an overview of trends in the global economy, taking into account the implications of globalization for the developing world and the question of free trade vs protectionism. It then considers three key features of an increasingly globalized economy and their significance for the developing world: trade, foreign direct investment (FDI), and financial flows. It also discusses the role(s) of developing countries in global trade, the advantages and disadvantages of FDI, and two major components of the global economy that can cause serious economic disruptions: the buying and selling of currencies and stocks and shares in local economies, and the rapid movement of capital across borders. The chapter concludes with an assessment of factors that can reduce the economic well-being of countries in the developing world.

Chapter

Cover Politics in the Developing World

28. Brazil as a Global Player?  

Leslie Elliott Armijo

This chapter examines Brazil’s emergence as a global power, with a particular focus on how the country has striven to play a bigger role on the international scene. It first provides a brief historical background on Brazil before discussing contemporary Brazilian foreign policy — especially its leaders’ vision of the country as a consequential global player in an increasingly multipolar world. This is seen through the active campaigning for continental integration in which Brazil has played an important role by means of several initiatives. The chapter explores Brazilian foreign policy initiatives in four global issue arenas: trade, climate, financial governance, and nuclear proliferation. It concludes with the suggestion that in terms of material power resources and influence, Brazil was not a global power in the twentieth century, even as it notes the country’s aspiration to become a major international player in the early twenty-first century.

Chapter

Cover Politics in the Developing World

29. China and the Developing World  

Deborah Bräutigam and Yunnan Chen

This chapter examines China’s South–South relations and how it has been shaped by the nature of the Chinese state: a highly capable, developmental state that uses an array of instruments to promote its interests. In particular, it considers how, by means of foreign aid, economic cooperation, soft power, and trade, China aspires to be seen as a responsible global power. The chapter first looks at the history behind China’s engagement with countries of the Global South and the instruments that it has employed in this regard such as foreign investment, commercial loans, and soft power tools. It shows that Chinese ties with the developing world are shaped by long-standing foreign policy principles, including non-interference in the internal affairs of others, equality, and mutual benefit, along with its embrace of globalization and the growth of its multinational corporations. The chapter concludes with an assessment of concerns regarding China’s international engagement.