"The existing model for expanding trade in the hemisphere—in essence, piecemeal liberalization—has reached a point of diminishing returns," writes COA's Eric Farnsworth in Current History.

Brazil is trying to catch up on IT on its own terms.

President Luiz Inácio Lula da Silva's government has pledged billions to battle the threat of recession and bolster Petrobras. Meanwhile, the Obama administration signals interest in strengthening relations with South America’s largest economy.

As the 50-year anniversary for the Cuban Revolution nears, Raúl Castro makes his first state visits abroad. His statements at a regional summit raise speculation about future relations with Washington and what mediating role Brazil could play.

An ambitious new Brazilian plan seeks to reduce deforestation rates by nearly three-quarters by 2017. Yet the proposal’s release coincides with news of rising deforestation levels.

McLarty Associates Managing Director Kellie Meiman writes, "If Brazil can come into its own as a true pragmatic stakeholder in the global economy and international institutions at the same time that the United States reemerges as a champion of multilateralism, there is much our countries can achieve together."

At a time when ethanol production faces the effects of the global credit crunch, questions arise about how Latin America and a new U.S. administration will cooperate in the field of biofuels.