The EyeOpener- Putting the “B” in Brics: Brazil in the 21st Century

BFP VideoOh what a difference a decade makes. Ten years ago, few had any inkling of the economic marvel that was about to befall Brazil. Since 2003, nearly 40 million Brazilians were lifted out of poverty, joining the ranks of the middle class and buying consumer items like televisions and cars for the first time. This in turn spurred more economic growth culminating in a 7.5% GDP growth rate in 2010 that was the country's best economic performance in 25 years. At the end of the decade, Brazil was a country transformed, and by 2012 it had overtaken the UK to become the world's sixth largest economy. After the phenomenal growth of the last decade, it seems the wheels have fallen off of the Brazilian economic freight train and the recent growth has come to a screeching halt. Still, despite this recent slowdown, Brazil stands in a fundamentally different position on the world stage than it did a decade ago. And this is largely due to the relationship that it has fostered with its new largest trading partner: China.

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Comments

  1. FelipeAbeid says:

    I am Brazilian.
    It does not sound good when i hear that since from 2003, the government was able to take 40million people from poverty. As it was correctly said at 1:35 , the growth in Brazil was mainly due to the structural reforms made by the previous goverments (at the time, PT was strongly opposed to these structural reforms), before 2003.
    The current federal government is controled by PT, with proven cases of corruption (mensalão) and assasination (celso daniel) involving its top leaders. The current opposition (PSDB) is not so different, unfortunetly.

    I don’t beleive that anything good will come from the brazilian federal government. They are a gang of thugs, just like many others.

    People here are total sheep here, political ignorance equals strenth over here.

  2. Gottquatsch says:

    Good report, but I would also pay heed to the the comment by FelipeAbeid above.

    Equally I would note the comments of Prof. Chossudovsky on who was recently in China.

    The point is that you can divide the world into the Bretton Woods Robber Barons vs. the emerging Brics powers. But what does this confrontation mean for most of us? The Brics leadership is no less rapacious than Gold Sacks. They exploit their populations no less than Anglo-American banksters.

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