Brazil has become an important country not only in the Latin America but also in the world. In the Latin America, Brazil’s economy is the largest, and it is placed eighth worldwide by the nominal GDP. Additionally, it is currently positioned seventh in the world as per purchasing power parity. As of 2012, the country’s economy growth rate was 5%, and it surpassed United Kingdom’s though there has been a deceleration since (Kiernan, p.5). In light of these, the country’s politics tend to focus mainly on the management and improvement of the economy. To do so, two factions hold different views on the precise methods to improve the country’s economy.
While one political group argues that only internationalism would remedy the country’s economic crisis, another vehemently opposes the notion. A statist nationalist is a political group whose ideology is that the government ought to control some areas that crucial to the economy (Almond, p. 45). Using the term, ‘interventionism’, and this political ideology holds the view that only an inward-oriented economy would improve the country’s economic and overall state.
Some of the steps proposed by the group is that foreign policies ought to focus what will benefit the country first. The importance of interventionism, it is argued, is that the state corrects market failures while promoting general welfare.