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The end of the Cold War and the revolutionary transformation of international relations have provoked a pessimistic view about the destiny of the Third World, now called "South". The collapse of state socialism, however, does not necessarily determine a future of misfortunes to that group of countries, including Brazil. Some "South" countries will escape from an obscure destiny, but others will not, depending upon the competence of their elites and their political ability to implement a national development project. This article deals with the prospects for Brazil and Latin America after the Cold War

The article makes preliminary suggestions to answer the following questions: "How is the global power distributed in contemporary international relations?" and "How does this distribution affect the options of the Brazilian external policies?" From the bipolarity of the Cold War to the fragmentation of the present-day agenda the topic of power sharing, a classic theme in international studies, is being discussed, and the positions Brazil could take in a context of multipolarity are outlined. (Polit Externa/DÜI)