Reading Reaction Journal #1
Reference
The Economist. (2009, November 12). Brazil takes off. Retrieved January 25, 2011, from http://www.economist.com/node/14845197.
Summary
This article discusses how Brazil recovered its economic growth while facing the international economic crisis. The author praises the measure that improved the domestic consumption and reduced social inequalities. The publication also made criticism about the increase of public spending and the lack of investments in education and infrastructure. Despite the criticism, according to The Economist analysis in 2009, Brazil will be the world’s fifth-largest economy from 2014. This publication also compares Brazil with the emerging group formed by China, India and Russia. According to the magazine, Brazil differs from other BRICs (group of emerging countries) in that it is a democracy, unlike China, has no ethnic tensions in its territory, as is the case in India, and, unlike Russia, has a diversified range of exports.
Reaction
This article was very interesting for me because I could have some idea how my country is seen from the perspective of other countries.
As a Brazilian I am very proud to see that Brazil in the last 10 years has changed its economics policies – inflation was tamed, and spendthrift local and federal governments were required by law to rein in their debts – and the Lula’s government has moved to reduce the searing inequalities. His efforts to combat poverty are working.
It is obvious that Brazil still needs to improve greatly to become the ideal country. It still needs to address some major issues such as education, health and violence. It is also needs to fight corruption harder. From my point of view this is the problem more severe and difficult to solve, since this is an issue that we have endured for as long as our memory can remember. However, I and a large proportion of Brazilians are confident that we will have good results for our country in the coming years. The infrastructure, education and health will slowly have achievements, it needs some time as well as patience. But the important things is that now Brazil has the financial stability to work on those issues. Today our economy is growing (rate 5% per year) and Brazil is likely to become the world’s fifth-largest economy, overtaking Britain and France in few years.
This is a prospect that leaves us, Brazilians, very excited. To paraphrase our former president, I think “never in the history of this country” have we been so confident that Brazil is taking off.