The history of Latin American economy is a tale of many ups and downs, an inconsistent struggle for development which has also caused many political shifts-and, in many cases, troubles. Following a wave of free-market reforms in the 1990s, the regio...
On the face of things, a real transformation in the performance of Brazil's economy seems to have taken place. Instead of the financial instability, which characterized its economy for many decades, Brazil is receiving praise for its relative price stability, fiscal (government revenue/tax) responsibility and meteoric growth. Brazil has one of the highest rates of urbanization in the world with 87% of the total population living in urban areas compared to a 57% average for upper middle nations, as well as this life expectancy at birth is 73 years, 91% of the population aged 15 and over is literate, furthermore brazil hosted the 2014 soccer World Cup and the 2016 Olympic Games – both events have required a huge rise in investment spending to boost Brazilian infrastructure and tourist facilities, moreover brazil's main trading partners are China (15%), the USA (10% of exports) and Argentina (9%) in fact the Brazilian economy recorded a strong performance in 2007-12 in spite of the global economic slowdown, with real GDP growth averaging 4.1% a year (albeit with important fluctuations). Growth exploited particularly from strong domestic demand (inside Brazil) as well as favorable external conditions, including high external demand and international prices for Brazilian commodities, which boosted the country's terms of trade. All of these factors considered would indeed imply that Brazil is an emerging country.
Oops! This image does not follow our content guidelines. To continue publishing, please remove it or upload a different image.
