Research Paper: Brazil Country Analysis History and Summary

Pages: 3 (916 words)  ·  Style: Chicago  ·  Bibliography Sources: 3  ·  Level: College Junior  ·  Topic: Literature - Latin-American  ·  Buy This Paper

Brazil Country Analysis

History and Summary of Recent Economic Performance

Brazil is the 5th-largest country in the world by area and by population. Gifted with immense natural resources, the country has only recently begun to work to its economic potential. As one of the large, high-growth emerging economies, Brazil has been a magnet for foreign investment in the past decade. The country has recently been affected by an economic slowdown, however, after several years of impressive growth. Brazil's economy grew at 7.5% in 2010, but this declined to 2.7% in 2011 and just 1.3% last year ( CIA World Factbook, 2013). Nevertheless, the country has the 8th-largest economy in the world at $2.36 trillion, just ahead of the United Kingdom and behind Russia.

Brazil's economic progress has come as the result of reforms introduced starting in the 1990s under the Cardoso government, which aimed to control inflation. A shift in emphasis came in the 2000s under Lula da Silva, who introduced reforms to the education system and social safety net, while continuing Cardoso's economic policies that encouraged foreign trade (CIA World Factbook, 2013). The country has held stable democratic government in recent years, in contrast to different points in the 20th century. The result has been one of the strongest and most prolonged periods of growth in the country's history. Brazil currently operates as a federal republic with democratic, multiparty elections.

Brazil's growth has also come as the result of increasing trade with China. China is now Brazil's largest trading partner and Brazil sends China soybeans, iron ore and other commodities. In return, China sends Brazil low-cost manufactured goods (Brown-Lima, 2010). As the result of its spurt of economic growth, Brazil's GDP per capita has now increased to $12,000. The country is still characterized by a high GINI index, a measure of wealth inequality. Thus, while Brazilians in Leblon or Ipanema live well, there is still rampant poverty, even in nearby favelas.

Brazil is a member of Mercosur, a South American trade group. The country is also a member of the World Trade Organization and has a number of individual trade agreements. Through recent governments under Lula and Roussef have been characterized by outsiders as socialist, they continue to engage in free trade around the world, something that has driven Brazil's economic progress. The country was ranked as 72nd in the world as the best country for business by Forbes Magazine, between Namibia and Azerbaijan, indicating that there is still some room for improvement. The report cited trade freedom, monetary freedom, red tape, tax burden and property rights as the biggest impediments to doing business in Brazil. The country also ranked 69th on the corruption perceptions index, matched up with Saudi Arabia and South Africa, again highlighting that… [END OF PREVIEW]

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APA Format

Brazil Country Analysis History and Summary.  (2013, April 29).  Retrieved May 26, 2019, from https://www.essaytown.com/subjects/paper/brazil-country-analysis-history-summary/8904839

MLA Format

"Brazil Country Analysis History and Summary."  29 April 2013.  Web.  26 May 2019. <https://www.essaytown.com/subjects/paper/brazil-country-analysis-history-summary/8904839>.

Chicago Format

"Brazil Country Analysis History and Summary."  Essaytown.com.  April 29, 2013.  Accessed May 26, 2019.
https://www.essaytown.com/subjects/paper/brazil-country-analysis-history-summary/8904839.