As evidence that this policy has borne fruit, Celso Amorim, the foreign minister, points out that most of Brazil's trade is now with developing countries, thus anticipating Mr Obama's advice that the world should not rely on the United States as consumer of last resort.
Mr Amorim's answer is that, in a world likely to be dominated by blocks, Brazil's best option is to co-operate as much as possible with its neighbours and other developing countries.