巴西

Brazil is the 21st-century power to watch

When I appeared on a panel of journalists from international publications recently, the moderator asked us to nominate our big story for the next year.

One of the panellists suggested the UK parliamentary elections. A second mentioned the continued ramifications of the financial crisis. I said Brazil, which I was about to visit for the first time.

Consider, I said: Brazil had come through the financial crisis in reasonable shape. It was sitting on a vast deep-sea oil find. It had just seen the world's biggest stock market listing this year – the $8bn flotation of part of the Brazilian arm of Santander. It would also be host to the world's two biggest sporting events: the 2014 football World Cup and the 2016 Olympic Games – which Rio de Janeiro had won this month over Tokyo, Madrid and Chicago.

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