As the U.S. economy continues to struggle, investors are looking abroad for investment opportunities. While most of the attention is on China and its growing economy, one of the best opportunities is in the Western Hemisphere. 

I am talking about Brazil.

Brazil has the tenth-largest economy in the world and the third-largest economy in the Americas. The GDP of Brazil grew at a rate of 5.4 percent in 2007, and is predicted to grow at a rate of 5 percent in 2008. 

Though this rate of growth isn’t as high as China’s 11.4 percent, the rate of inflation is much lower in Brazil than in China. Brazil’s rate of inflation is currently running at 4.46 percent versus China’s rate of 8.7 percent. 

While China may have time before its economy overheats, Brazil’s growth rate looks much more sustainable. 

The easiest way to play the Brazilian market as a whole is to buy an exchange traded fund (ETF). The most-watched ETF for Brazil is the iShares MSCI Brazil Index Fund (EWZ). This ETF has pulled back of late, giving investors a chance to get in on a dip. The EWZ has found support at its 50-week moving average several times over the last few years, and is approaching that support level now. 

If you are looking for some exposure to the foreign markets, look to buy shares of the EWZ on this recent dip.

[Ed. Note: Don't worry about the economy - you can still make money with your investments. And it's simpler than you may think. Let investing expert Rick Pendergraft show you the secret to a better, more financially secure life.]

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