A momentous transformation in Brazil

The Economist magazine (Nov. 14-20, 2009) has published a special report on business and finance in Brazil, which is described as a nation determined to bring to reality its long standing label of “country of the future”.  The magazine considers that Brazil is “enjoying probably its best moment since a group of Portuguese sailors (looking for India) washed up on its shores in 1500.”  The report goes on indicating that “despite the financial crisis that has shaken the world, a lot of good things are happening in Brazil right now.  It is already self-sufficient in oil, and large new offshore discoveries in 2007 are likely to make it a big oil exporter by the end of the next decade. All three main rating agencies classify Brazil’s government paper as investment grade.  It has the world’s largest freshwater supplies, the largest tropical forests, fertile land that in some places allows up to three harvests a year, and huge mineral and hydrocarbon wealth.”  In summary, The Economist argues that Brazil has made an entrance on the world stage, as you can see here and here.

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