The Economist came out with a 14-page report on Brazil and here’s the cover with Christ as a rocket.
“WHEN, back in 2003, economists at Goldman Sachs bracketed Brazil with Russia, India and China as the economies that would come to dominate the world, there was much sniping about the B in the BRIC acronym. Brazil? A country with a growth rate as skimpy as its swimsuits, prey to any financial crisis that was around, a place of chronic political instability, whose infinite capacity to squander its obvious potential was as legendary as its talent for football and carnivals, did not seem to belong with those emerging titans.
Now that scepticism looks misplaced. China may be leading the world economy out of recession but Brazil is also on a roll. It did not avoid the downturn, but was among the last in and the first out. Its economy is growing again at an annualised rate of 5%. It should pick up more speed over the next few years as big new deep-sea oilfields come on stream, and as Asian countries still hunger for food and minerals from Brazil’s vast and bountiful land. Forecasts vary, but sometime in the decade after 2014—rather sooner than Goldman Sachs envisaged—Brazil is likely to become the world’s fifth-largest economy, overtaking Britain and France. By 2025 São Paulo will be its fifth-wealthiest city, according to PwC, a consultancy.” – Economist (a little more here)
Tags: 14-page report, brazil takes off, eyes on brazil, magazine, the economist
November 23, 2009 at 12:32 AM |
The article: Brazil takes off is very interesting, and thought provoking. I am also interested in the fact that Brazil is set to receive Iran’s president, Mahmoud Ahmadinejad, today. If brazil can bring some peace to the middle eastern conflicts, it will be able to take its seat as a powerful international power.
November 23, 2009 at 9:40 AM |
Argentina is also taking off.
November 30, 2009 at 10:56 AM |
Very interesting article and although Brazil has a stronger economy now, it still needs to address some major issues such as education, health and violence. Hopefully the next President and group of politicians will finally put education as a major priority.