Brazil Impact on Globalization

Category: Globalization

•Basic economic overview
o Brazil’s economy is bigger than that of any other country in South America and is becoming more and more known to the world market. In 2001-2003 Brazil was overcoming some difficulties with their economy but regained strength. From 2003 to 2007 Brazil has been able to say that they once again were able to record its first surplus since 1992. Lula Da Silva, in his 2nd term, stated that more economic reforms were to come that would improve things such as infrastructure.
•Brazil and Globalization
o In 2002, nearly 53 million Brazilians elected a former leader of the combative New Unionism movement who guided Brazil through globalization. President Luiz Inácio of the Workers’ Party set his tack toward an outward-oriented development strategy to grow the economy, combat social exclusion and prepare the country for global leadership. Lula expanded exports of mineral, agricultural, semi-industrialized and high value added manufactured goods. Building on the success of the Cardoso presidency, Brazil’s export earnings grew from $43.5 billion in 1994 to an estimated $90 billion by the end of 2004.
•GDP growth rate
o 4.9% (2007 est.)
•Labor force (composition)
o 99.47 million (2007 est.)
•Inflation Rate
o 4.1% (2007 est.)