Brazil - on course to be a superpower?
The Independent carried an article on the development of the Brazilian economy last Friday - here is the link - the BRIC analysis from Jim O’Neill and his team at Goldman Sachs continues to carry much weight and we tend perhaps to focus too much on China and India!
“The Brazilian stock market, already buoyed by the boom in prices for the country’s commodities and other exports, has surged to a record level this week on news that Standard & Poor’s, the credit rating agency, has declared the country to be “investment grade”. Specifically, that is a stamp of approval on Brazilian government debt, but it is also the culmination of Brazil’s long slog away from financial crisis, hyper-inflation and democratic sclerosis. The country might finally be about to deliver on its promise as an economic power.”
Brazil’s widening wealth gap
Gillian Lacey-Solymar, Business correspondent for BBC Newsnight has a piece on tonight’s show about the rising inequality in Brazil as her economy continues to experience breakneck growth. Expect an excellent video clip to be available from the BBC web site immediately after the Newsnight programme has aired. Excellent for highlighting the links between growth and income and wealth distributio, especially with a tax system that appears to have regressive effects on the lowest income earners.
