Monday, March 09, 2009

Brazil: One Country That Might Avoid A Recession

TIME -- According to a recent study by the Paris-based Organization for Economic Cooperation & Development (OECD), Brazil may be the only one of 34 major economies that avoids recession in 2009. While the U.S. debates whether to nationalize its crippled banks, Brazil's remain comparatively sound. Oil companies worldwide are slashing investment, but Brazil's state-run Petrobras is going ahead with a four-year, $174 billion expansion plan. "Brazil," Lula boasted to TIME, "is riding the current crisis better than many developed countries."

"Lula" is President Luiz Inácio Lula da Silva, and most Brazilians believe he's the reason their country is surviving the current downturn better than other places.


At 3/09/2009 4:52 PM, Blogger misterjosh said...

That's what happens when you're one of the most protectionist countries in the world.

or should I say protectionist and hypocritical

At 3/09/2009 7:30 PM, Anonymous Anonymous said...

Having done business in Brazil I would have to agree with you completely misterjosh.

At 3/13/2009 9:55 AM, Anonymous Anonymous said...

Take mind. I think we need to take a survey on south-north economic history. Many inequalities have been take place here. Ask for Lumber Co. in Santa Catarina state and Contestado war and you will see an example. You can also read Cem Anos de Solidão, from Gabriel Garcia Marquez nobel prize. Booth situations will help you to understand brazilian "protectionism".
Booth sides need cooperate. Why do you think we would forgive import taxes if you don't do the same?
Developed contries should start the movement, don't you think?


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