Rio de Janeiro's successful bid to host the Olympics in 2016 represents Brazil's impressive transformation over the past decade from a struggling nation to a powerful economic and diplomatic player. Similar to how the Beijing Olympics in 2008 signaled China's resurgence, the upcoming Rio 2016 Olympics signifies Brazil's coming of age. After years of falling short, the largest country in Latin America has finally capitalized on its rich natural resources, thriving democracy, and large consumer base of 190 million people. The victory in securing the Olympics is a clear indication of Brazil's rising influence under President Luiz Inacio Lula da Silva, who has overseen a period of economic growth that has lifted millions out of poverty. Despite facing challenges such as the global economic crisis, Brazil has quickly rebounded and resumed its path to prosperity. During a meeting with the International Olympic Committee in Copenhagen, Lula stated that Brazil was the last to be affected by the financial crisis but the first to recover from it. He expressed that Brazil no longer feels inferior to other countries. In the past, Brazil's failure to fulfill its potential was often joked about with the saying, "Brazil is the country of the future -- and always will be." This was especially true during the military dictatorship from 1965-1984 and the economic turmoil of the 1980s and 1990s. Even in 2002, when Lula was running for president, Brazil was still facing struggles and fears of a crisis similar to Argentina's. Since then, Brazil has experienced years of strong economic growth and Lula's charismatic personality, which is appreciated both on the world stage and in local communities, has elevated Brazil's status in terms of both economic and diplomatic standing. By 2006, Brazil had successfully repaid its loans to the International Monetary Fund ahead of schedule and has since committed to lending the IMF $10 billion. The country has obtained three prestigious investment-grade ratings in the past year and a half, and has emerged as a significant player in global diplomacy, participating in discussions on topics such as world trade and climate change. Leading companies like Petrobras and Vale have thrived, expanding Brazilian investments and influence in Latin America and beyond. Following the financial crisis, Brazil has advocated for increased representation for developing nations in international decision-making, leading to greater recognition for groups like the G20 and the BRIC countries (Brazil, Russia, India, and China). Lula's call for the first Olympics in South America echoed a similar sentiment - that wealthy countries have historically dominated the Games. Brazil's economic revival has lifted around 20 million people out of poverty, largely due to Lula's welfare programs. Additionally, Brazil has benefited from luck, such as the commodities price boom and the discovery of a major oil reserve off Rio's coast in 2007. Despite these advantages, Brazil still faces numerous challenges on its path to becoming a developed nation. The education system in Brazil is not adequately funded, leading to a lack of top-tier universities. Business leaders are concerned about a shortage of skilled workers. The country's infrastructure is also in poor condition, hindering its development. Racism continues to be a major obstacle for black and indigenous individuals in terms of education and employment. Despite economic advancements, Brazil remains highly unequal, with widespread poverty, crime, and illiteracy in regions like the northeast and the Amazon rainforest.