Watch my report on how China is boosting Brazil's booming economy
By Stephanie Flanders – BBC News
British politicians like to boast "they have no reverse gear", but in Brazil, going backwards is a destination in its own right.
At any junction, the way to "reverso" is always clearly marked. When I first visited Brazil I thought this "reverso" must be a very important place. I belatedly realised it just meant going back the way you came. In Brazil that's considered a legitimate option for any motorist; and over the years, Brazil's economy has been pretty good at it.
Brazil is racing ahead these days. Whether it's growth, house prices or investment - everything that's flat or falling in the UK seems to be taking off in Brazil. Last year Brazil's GDP grew by 7.5%.
This country of nearly 200 million people has had heady periods of growth in the past. In fact, growth in the 1950s and 60s averaged more than 7% a year. But they have also had some equally dramatic busts. The 80s and 90s was a grim period indeed, when national output didn't even manage to keep up with the growth of the population.
For full article:
No comments:
Post a Comment