Brazil takes off, says the cover of The Economist
The British magazine “The Economist” has dedicated the cover of its global edition to Brazil. The publication, specialized and a reference worldwide on economic issues, brings a special report of 14 pages about the economic situation of the country.
With the title “Brazil Takes Off”, the cover shows a montage of the Christ the Redeemer in Rio taking off like a rocket.
In the special edition, with eight reports on business and finance in the country, and one editorial, the Economist said that Brazil “came into play on the world stage” and will become the fifth largest economy by 2014, overtaking the United Kingdom and France.
And, after being overlooked for years, the country now exceeds the other BRIC countries in various items, such as democracy (compared with China), religious and ethnic conflicts (India) and diversified export products (such as Russia, which is strong in arms and oil only).
The report notes that in 2003, when Goldman Sachs economists coined the term BRIC, many people turned their noses up at the inclusion of Brazil in the winning economies team. “Now, that skepticism seems misplaced.”
In an article (opinion), the Economist says that Brazil used to be a promise, but now begins to become reality. The country has not gone unscathed by the recession, but it is among the last to enter it and among the first to exit. The magazine also said that Brazil should grow 5% in 2010, but the rate should accelerate as oil fields begin to produce and Asian countries continue consuming food and mineral resources from Brazil.
In addition, the magazine refers to the PwC study that places Sao Paulo as the fifth richest city in the world by 2025.