Brazil has been be affected by the global economic downturn, however, many economists are examining the country’s influences and are realizing that the world’s 10th-largest economy may be better off, leaving exchange traded funds (ETFs) to reap rewards.

Foreign-aid programs in Latin America that include selling cut-rate oil to several nations and lending to Argentina and others at below-market rates are going to be cut back as the oil revenue in 2009 plunges, but Brazil is expected to fare better than most.

The commodity-rich country may not get as hard-hit as the larger economies of the United States, Europe and Japan over the course of the global economic downturn. John Lyons for The Wall Street Journal reports that the sources of Brazil’s influence are diversified and less vulnerable to economic woes.

Latin America provides the United States with one-third of its oil, but it’s also the source of most of its illegal immigrants.

Energy and drug-trafficking are major issues that will be tackled with the new alliance and relationship under President Barack Obama’s administration.

• iShares MSCI Brazil (EWZ): up 15.3% for past three months; up 4.4% over the past week

Tags: Brazil, BRICs, Emerging Markets, Energy, EWZ, Global ETFs, Obama, Oil