Thursday, November 25, 2010
Brazil: Economy: Not South Korea
Brazil has come a long way, but Brazil still has a long way to go. $10,000 per capita income is not $20,000, it is not $30,000.
Could the policy choices that have been made this past decade be sustained? How much of the economic growth has been due to Lula's charisma? And what happens when he is no longer on stage?
Keeping up with the momentum of what Lula's leadership has done is not going to be enough. Could Brazil build upon that momentum to reach new heights?
These are not questions that can be answered on a good day. Brazil will have to answer these questions over years, over decades.
Bloomberg: Brazil Economy May Grow 7.5% in 2010 Without Stoking Prices, Mantega Says Central bankers and finance ministers met in Washington last week to discuss what Mantega dubbed a “currency war,” caused by currency market interventions undertaken by emerging market governments to cope with “massive inflows” from developed nations. He said Brazil favors a “free-floating” exchange rate.
Brazil's Mantega Proposes Reducing Global Role of Dollar Mantega said today that the Federal Reserve's decision last week to pump $600 billion into the U.S. economy may inflate commodities prices and proposed the world move away from using the dollar as the main reserve currency
BBC: Brazil sees economy surge by 9% Brazil's economy grew at its fastest rate in at least 14 years in the first three months of 2010 ..... Much of Brazil's economy is driven by domestic consumer demand rather than exports - which analysts say means it is relatively insulated from Europe's debt crisis and the projected slow recovery of the US.
The Economist, April 2007
Land of promise
The blessings of stability
Rich man, poor man
Sources and acknowledgements
The slow road to paradise
The final frontier
No end of violence
The economy of heat
The Economist: Brazil