👉Why Brazil is not The Economic Super Power that is supposed to be ?! Brazil has an export-oriented economy, and last year their products brought in over $220 billion. China is Brazil's primary client.
With a population of 210 million people, a wealth of natural resources, and the world’s ninth-largest economy in nominal GDP terms, Brazil has always been a land of great potential. But years of political turmoil and stagnant productivity have held the country back as Brazil enters a period of economic reforms.
Some of Brazil’s key economic strengths include a vast market, a diversified economy with a historically solid industrial base – perhaps less so in recent years – a strong agricultural sector, and robust domestic demand. Brazil is an exciting country for those who like to innovate and who wish to bring something new to the table. It’s characterized by its flexibility and its openness to contributions and new ideas.
Brazil’s most significant challenges today are education and productivity.
Something that people may not be aware of is that between 1930 and 1980, Brazil recorded more growth than any other country. More than Japan, more than Europe during its reconstruction period and even more than China at the beginning of the 1980s. But in the last 30 to 40 years, although Brazil is a large economy, it experienced a period of weak growth and stagnant productivity.
So Brazil’s most significant challenges today are education and productivity. Therefore, it’s an exciting time for Brazil because they are entering a period of reforms that could transform the dynamics that have dominated the economy over the past 30 years.
One of Brazil’s main challenges today is that it has 13 million unemployed people, and worse, many more in a situation of underemployment and job insecurity. If you look at the broader metrics that include part-time employment, people who’d like to work full-time but aren’t able to, we get to a figure of almost 27 million people, which is about 25% of the economically active population. So it’s an extremely dramatic situation from a social perspective.
But there is yet another challenge in that it’s not easy for Brazil to embark on a policy of fiscal stimulus in the current climate; because Brazil has a sizeable budgetary imbalance and a significant deficit.
Recently Brazil's politicians have voted to raise the retirement age by nine years in a bid to boost a sluggish economy. Politicians from across the divide agreed to finally overhaul the pension system after years of trying to do so. The decision is expected to save the state almost $200 billion over ten years.
Welcome to The Atlantis Report.
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