In the 2000s, the literature depicted Brazil as an emerging power and a regional leader. From time to time, Venezuela was presented as a potential contender. Fast-forward to today: Venezuela endures economic bankruptcy and demographic collapse, whereas Brazil looks internally divided and much diminished on the international scene. Whatever happened? This article argues that the emergence of these South American states was an illusion created by presidential activism and ostentatious summitry, as presidents seized a commodity windfall to make the case for greater power status and regional agency. Once the windfall ended, successor presidents were unable to deliver on what their antecessors had oversold. The rise of the Venezuelan-sponsored Bolivarian Alternative for the Peoples of the Americas and the fall of the Brazilian-promoted Union of South American Nations are examples of the weakness of interpresidentialist region building, as populist presidents like Venezuela’s Hugo Chávez and Brazil’s Jair Bolsonaro contributed either to capriciously devise or abruptly terminate regional arrangements.
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