Brazil is becoming an economic powerhouse in the world today. This country has continued to enjoy a stable economic growth for the past 15 years (Sachs). Brazil has been opposing the industrialized world on many issues such as global warming and climate change. Brazil embraces the best economic practices and policies in order to remain competitive in the global market. The video “A View from Brazil: Alberto Ramos, Goldman Sachs” highlights the major strengths and weaknesses of the Brazilian economy. I believe the country will become a great force in the global market place.
This country enjoys several strengths as an emerging economy. The first strength arises from its geographic position. Brazil has benefited from its trade with countries such as Japan, China, the United States, and Canada. These industrialized nations have influenced many economic and industrial practices in Brazil. The current population also promotes the country’s economic performance (Sachs). The government has been embracing better economic policies within the past 15 years.
The government is tackling different challenges such as corruption and inflation. This approach will always support Brazil’s economic growth. The president is embracing the best policies and ideas in order to make Brazil successful. The video “On the Ground in Brazil: The Current Administration and Prospect” explains why Brazil’s external environment has always supported its economic position.
The country also faces certain weaknesses that might threaten its economic stability. Commodity exports might decline in the coming years. Commodity prices might also decline in the future. This development might affect the country’s economic performance. The country has also been recording increased financial deficits (Hunter). Such deficits might affect Brazil’s economy in the future.
The world’s deteriorating economy might affect Brazil’s future economic performance. The other major weakness is the inability to institute better policy reforms. The current infrastructure is still inadequate towards supporting the country’s economic growth. Corruption and inflation are some of the major challenges affecting the country. The government should address these weaknesses in order to support the country’s economy. The country might also encounter a major shock because of the unpredictable global economy.
According to the YouTube video “On the Ground in Brazil: The Current Administration and Prospect”, Brazil is undertaking new measures in order to support its economy. The country should embrace conventional policies to realize its potentials. The country should use better policies to reduce the rate of inflation. Brazil also requires foreign savings to boost its Gross Domestic Product (GDP).
The government should also invest in infrastructures, social amenities, and industries. New ideas such as social security and tax reforms will support the country’s economic position. Every policymaker should embrace better policies to sustain the country’s economy. The country will also host major global events such as the FIFA World Cup in 2014 and the Summer Olympics in 2016 (Sachs). These sporting events will play a critical role towards supporting Brazil’s economic position.
Brazil’s economy is developing because of its effective economic policies (Hunter). The current rate of economic growth and stability will play a major role towards supporting the country’s goals. The government must also present new policies to deal with inflation (Hunter). Brazil must keep its pace in order to remain a major economic player in the globe. Brazil will become a major force in the global market place because of its policies and economic strategies.
Hunter, Jim. “On the Ground in Brazil: The Current Administration and Prospect.” Online video clip. YouTube. 2011.
Sachs, Goldman. “A View from Brazil: Alberto Ramos, Goldman Sachs.” Online video clip. YouTube. 2012.