The Group of 20 (G20) Summit held on November 18-19, 2024, in Rio de Janeiro, Brazil, marked a significant moment in global diplomacy and Brazil’s aspirations to establish itself as a global power. For the first time in its history, Brazil hosted the G20 summit, an event coinciding with President Luiz Inácio Lula da Silva’s return to power. It was the first major global event hosted by Brazil under his renewed leadership, signaling a shift in its foreign policy priorities. The summit served as a platform to showcase Brazil’s ambitions, but the road to realizing its aspirations remains fraught with challenges, many of which emphasize the importance of strengthening cooperation with countries like China.
The G20, comprising 19 nations and the European Union, has become the preeminent forum for discussing global economic cooperation, encompassing about 85% of global GDP, over 75% of global trade, and two-thirds of the world’s population. The Rio Summit emphasized Brazil’s presidency, which officially begins on December 1, 2023, and focuses on three key themes: combating hunger, poverty, and inequality; promoting sustainable development; and reforming global governance systems. These themes align closely with Lula’s vision for a more inclusive and equitable world order.
One of the major highlights of the summit was the launch of the Global Alliance Against Poverty and Hunger, a Brazilian initiative aimed at mobilizing international resources to address these issues effectively. The alliance, unveiled on November 18, has 148 member countries, 24 international organizations, 9 financial institutions, and 31 philanthropic organizations. President Lula hailed this as a landmark achievement, with South Africa committing to continue the initiative during its G20 presidency in 2025. The alliance underscores Brazil’s intent to position itself as a leader in addressing global inequalities, particularly in the global South.
Another bold proposal from Brazil was the introduction of a 2% wealth tax on the world’s 3,000 wealthiest individuals, expected to generate $200-250 billion annually. These funds would be earmarked for tackling poverty and environmental challenges. Although the idea sparked debates and met resistance, it found a place in the G20 Rio de Janeiro Leaders’ Declaration, highlighting Lula’s ability to push ambitious ideas onto the global stage.
Brazil’s agenda also prioritized sustainable development, focusing on combating climate change and transitioning to renewable energy. A central feature of this agenda was the G20 Initiative on Bioeconomy (GIB), which Brazil had previously introduced. The initiative outlines ten principles for developing the bioeconomy and was formally endorsed in the Rio Summit Declaration. Moreover, Brazil advocated for reforming existing climate funds to make them more accessible to developing nations and proposed the creation of a Tropical Forest Finance Facility (TFFF), designed to assist low-income countries in preserving their forests.
These measures align with Brazil’s domestic priorities under Lula, who has repeatedly emphasized the importance of environmental stewardship. By leading these global initiatives, Brazil seeks to strengthen its image as a responsible and forward-thinking player on the international stage.
Reforming the global governance system is another cornerstone of Brazil’s G20 presidency. Lula envisions a modernization of international institutions, including the United Nations, the International Monetary Fund (IMF), the World Bank, and the World Trade Organization (WTO), to reflect contemporary global realities. He also advocates for empowering multilateral development banks to play a greater role in supporting sustainable development and poverty reduction, especially in the global South.
By emphasizing these reforms, Brazil aims to reshape the international order to be more inclusive and equitable. This aligns with Lula’s broader strategy of championing the interests of the global South, positioning Brazil as a leader in advocating for the rights of developing nations.
Brazil’s ambition to become a global power is not new. Since its redemocratization in the 1980s, its foreign policy has gradually evolved from autonomy through distance to autonomy through participation, and later to autonomy through integration. These shifts reflect Brazil’s growing engagement with regional and global platforms, particularly under Lula’s leadership during his earlier terms (2003-2011). During this period, Lula promoted South-South cooperation, regional integration, and United Nations reform, elevating Brazil’s international standing.
Since taking office again in January 2023, Lula has reinvigorated Brazil’s foreign policy. His administration has rejoined the Community of Latin American and Caribbean States (CELAC) and the Union of South American Nations (UNASUR) while hosting summits to promote regional cooperation. Internationally, Brazil has taken on leadership roles, including its G20 presidency in 2024, BRICS presidency in 2025, and the hosting of the 2025 UN Climate Change Conference (UNFCCC COP 30). These moves reflect Lula’s determination to “show the world the real Brazil,” as he stated in a June 2024 speech.
Despite these efforts, Brazil faces significant challenges in achieving its great-power aspirations. Economically, its growth has stagnated over the past decade. Brazil’s GDP peaked at $2.62 trillion in 2011, ranking seventh globally, but fell to $1.6 trillion in 2021. Although it has rebounded to $2.17 trillion in 2023, it remains below its historical peak. Projected growth rates of 2.3% in 2024 and 2.1% in 2025 highlight the need for stronger economic performance to sustain Brazil’s ambitious foreign policy.
Externally, Brazil’s regional influence has diminished due to political and economic fragmentation in Latin America. Relations with Argentina, historically a cornerstone of regional cooperation, have soured under the Millet government, weakening Mercosur and regional integration efforts. Divisions between left- and right-leaning governments in the region have further hampered Brazil’s ability to rally support for its initiatives.
Amid these challenges, China emerges as a crucial partner for Brazil. Over the past three decades, China-Brazil relations have deepened significantly, with both countries emphasizing the importance of multilateralism and South-South cooperation. Since Lula’s return to power, the partnership has strengthened, with China supporting Brazil’s G20 initiatives and aligning on key global issues, such as UN reform and BRICS expansion.
China’s backing has been instrumental in advancing Brazil’s G20 presidency. During the Rio Summit, President Xi Jinping endorsed Brazil’s proposals on poverty reduction and global governance reform. China also joined the Global Alliance Against Hunger and Poverty and supported Brazil’s call for reforms in global financial and trade governance. This strategic alignment underscores the mutual benefits of their partnership in addressing shared challenges and promoting the interests of the global South.
The G20 Rio Summit marked a high point in Brazil’s quest to become a global power, providing an opportunity to showcase its leadership on issues of global importance. However, significant economic and geopolitical constraints remain, requiring Brazil to navigate a complex international landscape. Strengthening ties with China and other key partners will be critical to overcoming these challenges and realizing its ambitions.
By focusing on inclusive development, sustainable growth, and global governance reform, Brazil under Lula is positioning itself as a champion of the global South. Whether it can translate these aspirations into lasting influence will depend on its ability to address internal challenges, foster regional cooperation, and leverage strategic partnerships on the global stage.
Source: G20, S20 Brasil
