If you happen to notice sometime later this year that you're suddenly paying a lot more for orange juice, you can blame America's food safety authorities. The U.S. Food and Drug Administration, after several weeks of deliberation, has blocked imports of frozen, concentrated orange juice from Brazil, probably for the next 18 months or so, even though the agency says the juice is perfectly safe.
Brazil is now the world's sixth biggest economy overtaking the U.K., according to the Centre for Economics and Business Research. As the Financial Times puts it, it's another milestone that's part of a larger trend where emerging economies outpace developed ones. China, they report, overtook Japan earlier this year.
When people say Brazil won't be the next Saudi Arabia, they mean it in a good way.
Brazil has discovered enormous oil reserves far off its coast, but the country's robust and varied economy means it shouldn't become dependent on oil.
"Brazil is not just going to be an oil exporting country," says Paulo Sotero, director of the Brazil Institute at the Woodrow Wilson Center for International Scholars. "That's not all it's going to do."