Emerging economies present increasing opportunity for business expansion. International business (IB) students therefore need to become better aware of the socio-political challenges that may arise in emerging economy contexts such as poverty and civil unrest, and to gain capacity for fruitfully engaging in dialogue with diverse stakeholder groups. The Aracruz Simulation is an experiential learning exercise that can be used in the IB classroom. It is based on an actual case of the Brazilian pulp company, Aracruz Celulose, and involves a land rights controversy with indigenous and landless people, the community, a government agency that advocates for indigenous people, and NGOs protesting against the company. This pedagogical tool helps students to develop stakeholder dialogue skills that are critical for global managers and leaders.