since 2003, brazil's macro economy has been expanding, and get this, brazil's biggest trading partnerday is china. oil! brazil's atlantic coastline runs 4,600 miles. the red dots on this map depict brazil's vast oil acreage offshore. oil is what president obama wants to buy as he made clear. >> brazil's been an extraordinary leader in biofuels and obviously is also becoming a world player when it comes to oil and the united states is not only a potentially large customer to brazil but we think that we can cooperate closely a whole range of energy projects. >> by the way, brazilian president rousseff has a national approval rating of 77% in brazil. question, is brazil walking a tightrope between its relationship with china and its relationship with the united states? pat? >> they are. that's right, john. the decisions are here and the united states is pouring all this money out and investments come into brazil and exports are becoming more expensive and their trade balance is bad. they've got their own problems also with the chinese, who are being pretty tough. but brazil is not a worl

let's look at brazil. it is a remarkable reversal of fortunes. 10 years ago, there was america, driving economic growth in the world. brazil was languishing. now we have brazil, a bric. >> we should be careful about the cycle. do not get over-excited about brazil or any one of these emerging markets. >> they want more clout. >> they have cash. they have reserves. they can potentially save europe. that would be very strange. it could well happen. >> let's talk about your book, we have it here. i want to read the subtitle. why it matters to you -- tell americans why. >> the u.s. has lost control of its fiscal house. if we get it back in order, we can be the no. 1 economic power in the world again. getting our fiscal house back in the order at the moment seems rather elusive. >> we have to carry on with enough stimulus to promote growth and invest in employment. there are those who say that we cannot afford to do that. we have to address the deficit now. who is right? it is extraordinary that there is this ar

-brazil bilateral relations are, for brazil, ary very important relationship.t only from a bilateral but also from a multilateral perspective. >> warner:al though the hemisphere's two biggest democracies should be natural allies theyho often don't see eye to eye. >> it would certainly be hard c to say the u.s. and brazil are adversaries or in conflict. but the fact is they disagreeco more than they agree. >> warner: this man is seniorar fellow and president emeritus at the inter-american dialogue in washington. >> americans and brazilians the u.s.y rarely consults with brazil on the important global issues. >> warner: that shouldn't be surprisingÑ, given brazil's history of being a thorn in the u.s. side. in 2010, then president louis lula today sill virginia tried to broker a deal with turkey on iran's nuclear program.Ñi and derail secretary of state clinton's push for u.n. sanctions against tehran. brazil has staked out positions contrary to washington's on cuba, climate change, and the 2009 coups in honduras as well. >> brazil is in many respects still learn

win/win for brazil.or the companies. >> the president of brazil being populist and being against sort of corporations, wanting it nationalize, we see what is going on in argentina. what is your take on what is going on in argentina right now in terms of nationalizing of the oil company? >> i think it is very sad. because foreign capital, foreign productive capital should always be welcome, under the right conditions. and the taxation for the oil was already very, very strong in argentina. the government take is very high. they did not need to do that. you don't think there will be any barriers for that? >> for speculative capital, yes. take adding vantage of the exchange rates. the real rates in brazil. in the brazilian financial market. 9%. that, yes. but productive capital is mega welcome. >> you control five publicly traded companies. you've got oil, oil drilling, power generation, port developers, ship building. a huge grasp on what is going on in terms of commodities. infrastructure. what can you te

>> in brazil. the last time he saw her was in brazil. >> why won't you let her see him?t you're not allowing her to see him. >> she can come and see him whenever she wants. pending a couple of safeguards that i would be an idiot to not keep up. because if it was up to her, i would never see my son again and he'd still be in brazil. she needs to stop the litigation. stop it. and then she needs to go to the therapy here, child therapist, and discuss and heed his advice on how she needs to behave. >> what about people who might say to you, you know, you wanted to see your son in brazil and you had lawsuits going left and right to try to reclaim him and they let you see him. >> what would did you just say? your son. first of all, sean's not her son. second of all, she flagrantly thumbed her nose at international law for several years. so they didn't let me do anything. they were ordered by a federal court. >> sean's brazilian grandfather died last year and his grandmother says that makes it more tragic that sean has not been permitted to have contact with his remaining relat

. >>> and making billions in brazil. we've got a first on cnbc interview with brazil's wealthiest man. you certainly don't want to miss that. welcome to "the fast money halftime report." lots to trade today. let's get straight to this barnes & noble deal, the stock soaring today on its ebook deal with microsoft. joey t., size this up for me. what do you think? >> i think there's two key points you have to talk about. first of all, what is it that microsoft can do to accelerate the earnings, which had been lousy for barnes & noble? and i think if you answer that question positively, then you stay in the barnes & noble trade. if not, then you use this as an opportunity to get out. secondly, what does this mean now for microsoft? does it position microsoft that they need to go out and place themselves in a position where they have another mobile hardware product beyond what they're currently offering? i think they're going to need to, if they truly want to compete with apple. >> dr. j., that's the great thing about this sto

at a time of the changing geopolitical landscape brazil has now overtaken the u.k. as the world's sixth largest economy and along with the other brics countries russia india china and south africa has set in motion a movement of backing away from the dollar as the world currency also making a lot of decisions independent of the west now truth of it is in many ways seen as the ambassador of bricks she's also this is also the first day that directors of the world bank. begin meeting candidates to become the presidents of the world bank now typically whoever is nominated by the us is the one that's chosen the thing might be changing there have been eleven world bank's presidents so far and they've all been americans but president obama of course did nominate an american he nominated dartmouth college president dr jim yong kim who also co-founded a non-governmental organization that focuses on getting hiv and aids treatments to some of the world's poorest now there's also jose antonio counsel a professor at columbia university the former minister fine of finance in colo

obama has his eye on brazil and china to increase u.s. exports. last year alone, foreign companies pumped 50 billion euros into the country, more than two times 2006. >> but that success can come at a cost. as we hear in this report. >> when the reasons for brazil's strong economy is as well of natural resources. more and more offshore oil fields are being discovered and exploited in its coastal waters. the ore deposits are in excess as well. brazil boasts the second largest reserves of iron ore after australia. because of raw material prices are on the rise, brazil's economy has grown faster than more established, industrialized countries. in recent years, brazil's gdp has been expanding at an average rate of 4%. that outpaced germany and the u.s. the german economy has grown at 1.5%, the u.s. economy only at 0.5%. but there is a downside. get numb -- economic crises in industrialized countries are prompting more and more investors to put more money into brazil. now brazilian products are comparatively expensive on world markets. the country is n

landscape brazil has now overtaken the u.k. as the world's sixty six the largest economy and along with the other brics countries russia india china and south africa has set in motion a movement of backing away from things like the dollar as the world currency and also making decisions independent of the west. reserve is in many ways seen as the embassador of bricks and this is also the first day directors of the world bank begin meeting candidates who will who want to become the president of the world bank typically whoever is nominated by the united states is chosen they have been eleven world bank presidents and they've all been americans but this year things might be changing president obama did nominate an american dartmouth college president dr jim yong kim who also co-founded a non-governmental organization that focuses on getting hiv aids treatments to some of the world's poorest people but there's also jose antonio compass for a professor at columbia university and the former minister of finance in colombia the dominic

-brazil bilateral relations are for brazil a very ihj also from axd multilateralxd perspective. >> warnere eye to eye. >> it would certainly be hard to say the u.s. and brazil are adversaries or in con flakt... conflict. but the fact is they disagreetri >>Ñi warner:Ñis7 seniorçaäu fei presidentxdñr% dialogue in wa relationship. yet the u.s.ñr rarely consults wiwxxd brazil onñrÑi important global issues. >> warner: thatÑiçmó÷dxdy surpris) the u.s. side. in 2010, then presidentçóÑcu-hñ, a dealçóxd w'ljf turkeyÑiÑi onx" s cret push for÷héñr u.n.ÑifáÑiÑ >> it is not possible to delay this anymore. >> but has not done the same for brazil. >> breazil thinks that it holds many credentials to have that permanent seat. brazil is in a region that's not a central priority of the administration of the united states. now latin america has been relatively successful and it's becoming a middle class. there's no open conflicts in the region. my god, we have so many conflicts and so many other places. latin america, we don't have to really worry about a whole lot. >> warner: the director of the woodrow

brazil taken on a greater role and u.s. pushed for the g. twenty rather than the g. seven to begin come nina for discussion of international financial issues there a lot to do with her moving and accepting of the world are still so i think they u.s. is generally perceived in brazil to be simple some of the somewhat sympathetic enough as you student of brazil's aspiration for a global leadership so you know the security council that's a fairly specific implementation right of that and that and that's harder for us to brace because of all the complicated side issues certainly so much i and the world right now and it's hard to find any country that agrees on every matter with us i'll keep our eyes on it robert naiman policy director for just foreign policy. well we want to talk now about the latest case dealing with companies using the internet to make money but then trying to punish those who have figured out a way to get out of paying for it service in this case its service is pornography the case is called hard drive productions inc vs does one ninety here's what hap

sao pa brazil.ith its crowded boulevards and massive skyscrapers, it seemswealthy as any city in the world. withsao paulo is uniqueards among latin american cities. in the earlyart of t 2, when places like rio de janeiro copied traditional european styles of construction, sao paulo was following a distinctly american model of urbanism. imitating the forms of chicago and new york, sao paulo built upward, growing vertically very quickly. but in a huge ring around ty slies a very different, growurbaenvient.ly very quickly. here, stretchingor miles, is a city of self-built structures in various stages of completion. they line hillsides and rocky stets where some of sao paulo's newest immigras struggo ild mes om brick and c where some of sao paulo's alaide and her family came to sao paulo from northeastern brazil. ( alaide speaking portuguese ) translator: from there my father came first to work. came i as a ma,my motwas amstres narrator:alaide mar, a northeastern mignt keerse. they coun't afford even ma

and brazil ultimately? >> i think, you know, when it comes to these meetings from heads of state, the important thing to remember is not necessarily the content that is on the table but the fact that they are et mooing. that is the important fact. the fact that they are trying to make ties a little bit closer, to work on that relationship that hopefully over time develop into better trade agreements and more trade between the two countries. >> and what would be likely areas, the most popular areas to have this new cooperation? >> well, i think if you think about, for instance, the ability of maybe the united states to have more oil imports from brazil rather than the middle east and also the ability of us to actually provide some goods an services to a growing middle class that is emerging in brazil there is somewhat of the areas, there could be some common interest. >> what is all this mean for investors? we hear so often about the risks and the rewards of investing in emerging countries like brazil. isn't

you know brazil and the u.s. has very proper relations for duration that has been for some time actually one of the better relationships that the u.s. and the region certainly combined or geology with you. we'll use the mean konami power in the region other countries in the region to forward some stand. forward on latin america latin american agendas were alone in the clashes. they are the biggest and will be over you know who's going to get was contracting of hydrogen. you know this isn't going to be headline. not going to be headline news yeah it is interesting though when you look at brazil as a country right now i mean the development over the last ten years has been pretty massive crime is way down and the president was that has a seventy seven percent approval rating hard to imagine that any president could ever get that. in some ways that you know you think of president obama maybe would pick her brain would ask for advice on how she's accomplished that major things i know her predecessor lula. was to than

right last year brazil overtook u.k. they're now the sixth largest economy and so kind of a big deal that president taylor itself is here visiting but what she did is she kind of went after obama about america's loose monetary policy right criticized our low interest rates and so i'm just curious what it is that you think about i mean it's not even something that she can pin on obama i know that jay carney just said talk to the treasury and the fed about. talk to them about it although president obama did. make it to the fed board some respects i guess she can maybe loosely like it to the presidency but they do. we have somewhat of a complaint about low interest rates are hitting emerging market countries brazil and this is trying to elevate themselves on the global stage and this this trip is part of that she's in the didn't just come to talk to president obama today she's going on to boston there too to give it speeches in mit and harvard and they're trying to push a lot of brazilian students to go to the united states

so, why is brazil treated differently? >> is brazil arrival or an allied? on one hand, you have a huge potential for trade and the economies of north and south america. on the other hand, there are sort subjects with foriegn policy. >> barack obama has personally invested in brazil. he visited last year. veteran admission, this is a slow-blossoming -- by their own admission, this is a slow- blossoming relationship. bbc news, washington. >> while brazil's economy may be booming, much of the rest of the world is still struggling. many of the hurdles that remain -- i spoke to a professor from might see it -- from in might see who wrote a new book "white house burning." there was america, driving economic growth. now we have this flip-flop. we look to the brics around the world. >> they had agreed tenures. no question about that. @ think we should be careful about the cycle turning. -- i think we should be careful about the cycle turning. they had cash reserves. look at the eurozone. it could all happen. >> tell me about your book -- the subtitle of " the found

here in the u.s., as well as brazil. and brazil, sean's grandmother and his stepfather are appealing the decision that allowed him to come here in the u.s. and she's also filed a suit here in the u.s., and that is either saying she's appealing a ruling which denied her request for visitation. and she says that her human rights are being violated because she hasn't been allowed to visit with her grandson. what do you want to say to that? >> well, she's been around from the beginning when sean and i returned, before she started these lawsuits, we tried to open up a dialogue and communication on how she can participate and take a good role, as a good, healthy role in sean's life. and that would include meeting with his therapist. and recognizing that he has his dad. and essentially they sued me here for custody. they wanted liberal vacations with him. liberal this. and how can i trust these people knowing that as we speak, they're filing suits in brazil to get him back, and if we didn't have the highest levels of this gover

you know on the other hand brazil has you know a different model is capitalism have more of a social aspect to it obama could learn from a bit if you look at things like employment shirts and look at job retraining going to talk about those areas were definitely pretty well that level let's talk about that right that's our next topic and. this is what's happening as the stimulus has run out right here in washington what they've been doing is constantly extending unemployment insurance or anything in benefits but we haven't really been talking about a whole lot of these training programs for the unemployed and so a lot of states are starting to just who's funds are completely drying up and you know so i wouldn't do that because it's not the area that we should specifically be focusing on some people don't believe that the government can create jobs the camp the government help provide training so that now that the economy is slowly picking back up again right it looks like the private sector is hiring again so that you can actually have workers that are prepared or that are trained fo

brazil, it's 2,200. in china, 2,600. in mexico, it's 1,940. so you can see that that is a wide variation in factors and herein lies the point of what is made about the way in which we consume electricity and the levels of efficient say that can be obtained. just to look at some numbers. if in in the u.s., every person were to consume ten less per month, that could save 4,000 megawatts of capacity. that is not actually a lot. which is the combined demand of kenya, uganda and rwanda today. there is huge potential for savings in energy conversation that can fuel a lot of the power that we need in cleaner ways. let me address very briefly the potential of power. in addition to their daily tasks of lightening potential is very important. in developing countries, people in the rural areas use now electricity mostly for lighting, for cell phone charging now more and more, and for other simpler bake purposes. but there is a lot of productive potential, as the senator pointed out that can drive economic growth, economic development, and this is why pro

actually the first part was about the development bank in brazil. we've noted in previous issues of fiscal monitor about the importance of getting a sense, not in brazil but in general, about the overall impact of fiscal policy and the government budget is one aspect of that, but there are other elements in the public sector that also affect demand. and one of the things in a previous issue of monitor we pointed out is the importance of transparency. that governments make data available that allows one to come to an understanding of what the overall impact of the public sector is on domestic edand and about what the risks soerngted with some of tomorrow forms of spending are. one is governments may be facing bresh pressure because of difficult market conditions to try to move to some more what we termed creative approaches towards increasing demand and increasing the role of the public sector in way that doesn't affect the headline fiscal numbers like the general government deficit or debt stock. it is the case in brazil that they've taken on an inc

that is the reason we are planning and pushing for a free trade agreement with brazil even. unfortunately, some pressures under the brazilian government are moving back. then i'm putting some restrictions to free trade, which is in benefit of no one. but the point is we need and we want more trade and more benefits. and that is the reason why mexico is pushing a lot in order to be part of the tpp, the transpacific partnership project. because there is the future at least in the short and medium term. the economy is growing in the pacific sea. the economy is growing in latin american countries and the asian countries. if we are able to match this potential with the tpp initiative and others, i am very sure that we will get all the benefits of next decade for our countries. those are my comments, and thank you for all your attention. thank you. [ applause ] >> thank you for a terrific, comprehensive overview of mexico's competitiveness. let me see if i can summarize very quickly. first of all, you want to continue to enhance trade around the world between mexico and the rest o

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to start off, i'm very pleased to introduce from the government of brazil, the host, of course for rio plus 20, ronesto, the dcm at the embassy here in washington. >> i'm like to begin by thanking nancy, the embassy of denmark and climate advisers for the opportunity to say a few words in this event on such a crucial. the distinguished panel, this event today, it touches upon two very important items in the world of course, but also brazil's agenda. namely energy and sustainable development. next june, rio plus 20 will give the opportunity to take stock of the last 20 year of work on sustainable development and to shape the debate for the decades to come. we hope rio can help develop new concepts and guidance for our work. among those subjects of course is energy, brazil has been over less years as you know, we're on the forefront of promoting sustainable development. sustainable energy and sustainable development initiatives by feels as the most famous or most known initiative of course, but bio fuel ss not the end of the story. many have implemented other initiatives. all leading to

saying are we going to do anything because we need to ask brazil but always brazil nobody. you will never accept the people we never accept to be different like we are from bruce that they are also for withdrawal from mates are you not worried that in the future should fascinating help you may not be able to rely on your current partners if you so i agree can be a dance or you will want to stay in the i.r.s. but they don't want to see our force on the american decision we have zero interest in africa for example i don't want to be enough against him because he sent troops in afghanistan it's a failure it's a dramatic failure. i want my country deciding where to go in charge actually heart was a great president and he refused to go in iraq. he refused and he was right. and i want to be free as a people french people to decide where we want to go a million against the size this phone system it's a crazy thing and you agree with. we are we have all. this regime. and we need to keep it and i am against this american defense in size i think we have to work with. because the we a

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there will are some concerns about china for brazil, but i think brazil is a relatively closed economye faster economic growth this year. in the case of peru obviously is mini mining, the president is more pro business than expected and this has well received by the market and by the foreign companies. in the case of colombia, it is an economy that is booming, oil and mining again, the country has already gone through the $1 million that they have very stable business environment. and in the case of mexico, the faster the american economy picking up has a positive impact in mexico. we look at the negative side of latin america, obviously you have arrest depegentina as a se concern. a lot of capital recapitulation problems with the dollar and exchange rate. the economy is slowing down. the provinces piling up local debt. so argentina is looking less bright by the minute. and also we have -- >> carlos, can he we and you can about some of the slowdown that you're suggesting there and quantify it for me because we're looking around globally and seeing some of the predictions for the growth

>> for us it's southern cone particularly brazil and argentina. cis market, those are the two really, really big markets and then the third big one for us is china. >> i want to ask you the same question, where are the big growth markets and soot lites and where does the u.s. fit in terms of your global sourcing? >> at this point looking at both near term for the next year or 18 months and midterm say to the middle of the decade, i would say our single biggest growth market from a geographic standpoint is in south america. that is followed fairly closely by opportunities in eastern europe and throughout the middle east and in sub sahara africa. it's not uniformly true, but certain regions and countries in south asia. from a service standpoint, the real drivers of growth today and for the near term are expected to be in three areas. first, the conversion from normal television formates -- formats to high definition tv. ted talked about not being able to find the channel he wanted on the 500 channels currently available. the satellite that he referr

. >>> and two women killed in brazil. police say this is a horrifying story, that they may have been the victims of cannibals. those stories are coming up.quie . ♪ [ sneezes ] [ male announcer ] you may be an allergy muddler. try zyrtec®. it gives you powerful allergy relief. and zyrtec® is different than claritin® because zyrtec® starts working at hour 1 on the first day you take it. claritin® doesn't start working until hour 3. [ sneezes ] [ male announcer ] zyrtec®. love the air. [ female announcer ] this week only, save up to $11 on zyrtec® products. see sunday's newspaper. [♪...] >> i wish my patients could see what i see. that over time, having high cholesterol, plus diabetes or high blood pressure or family history of early heart disease, can put them at increased risk for plaque buildup. and they'd see that it's more important to get their cholesterol where their doctor wants. and why for these patients, when diet and exercise alone aren't enough, i prescribe crestor. adding crestor lowers bad cholesterol by up to

we are not harmed at all if we buy oil from brazil.the way, producing much more oil domestically than we were five, six, seven years ago. in fact, thanks to obama continuing the bush policies, we are now getting 55% of our liquid fuel from domestic sources. this is just something we're doing well at and we're also going to other democratic allies. hey, that's a good place to buy your oil from. >> domestic sources. there's a lot more public sources to be had. aren't they? >> sure. get those, too. i don't think you can fault obama for not trying hard enough. he's continued everything bush started and bush was a very aggressive oil man. >> what's your response? >> we can fault obama because he's delayed a lot of these and he insists as jonas said that we don't have enough oil resources. we look at all the oil resources that we have. we have over 200 years worth of supply. you talk about the continental shelf and you talk about anwar and talk about the green river in wyoming and then throw on oil shale right here in the continental u.s. on