Whether measured by territorial area or economic scale, Brazil is the largest country in Latin America. Over the past century, Brazil has experienced a long and torturous development process. Politically, Brazil has undergone multiple institutional transformations, including colonial rule, monarchy, military government rule, and democratic election systems. Concurrently, struggles, games and compromises have taken place among various domestic forces. Economically, Brazil has continuously explored different foreign trade strategies, evolving from single-product export to import substitution and then to export orientation. Domestically, it has also carried out a series of initiatives, including infrastructure construction, financial reforms, and labor market reforms. From the perspective of the A-C theory, the dilemmas Brazil has encountered in its economic development are closely intertwined with its political and economic institutions and are also the result of the combined influences of nature, history, and culture.