Sorry to bring this up six years since the last reply, but don't forget that Brazil already produced german airplanes, such as Focke-Wulf Fw 44 and Fw 58, under license before the war.

Brazil was a self-suficient country on food and had plenty of natural resources such as rubber and iron. Of course, joining the Axis in 1941 or so was a complete madness, but if Germany had sent engineers and military instructors during late 30's, the thing could be very different.

U-Boats would be able to operate from southern atlantic since the beginning, and the war vessels such as Graf Spee would have safe haven in Rio de Janeiro or Florianópolis. Later on, same situation for Bismarck and Tirpitz.

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