Brazil: Leading the BRICs?
1. Will “Brazilian capitalism” sustain current GDP growth levels? Is Brazil the country of the future? “Brazilian capitalism” encouraged the development of private sectors and large amount the foreign investments. The liberalization of its economy was effected at the pace of the liberalization of the world economy by Brazil’s accession to the WTO and the rapid development of multinational firms in the primary and industrial production area. In brief, Brazilian capitalism can sustain current GDP growth levels by supporting a variety of businesses and boosting domestic economy.
Brazil's growth in recent years has been strongly influenced by an increase in investment which promotes the increase in production capacity. Although the country has to improve education and its development strategy towards entrepreneurs, Brazil is on the right track to become one of the world’s largest economies if it continues to promote economic development policies that would sustain its current GDP growth level and if it goes on energizing its leadership role in the international relations. It is definitely a country of the future.
2. How has Brazil taken a leadership role in the global economy? Brazil can be considered as a leader of the global economy due to its rapid growth as well as its powerful impact in different world organizations. On the one side, the economy of Brazil is the world’s sixth largest by nominal GDP. Brazil is one of the fastest-growing major economies in the world with an average annual GDP growth rate of over 5 percent. It is also one of the most important exporting countries in the world. It has hundreds of trade partners, with 60 percent of exports mostly of manufactured or semi-manufactured goods.
On the other hand, Brazil is a member of diverse economic organizations, such as G20, WTO, and the Cairns Group. It held important leadership positions in the G-20 and had become a major player in multilateral trade...
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