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Brazil's repeated boom-bust cycles since 1973, and lost decades
08/28/2015
Brazil, Russia, Australia, Canada, are caught up in the commodities bust with dependence on commodities exports. Brazil faces a lost decade because in adddition to the sharp drop in commodities prices, it also has to tackle large debt and capital outflows, a credit card binge of households cutting into consumer spending, and problems with manufacturing from the period of overvalued currency. A serious long term problem as bottlenecks to growth come from a weak educational system and infrastructure that were not tackled in the boom years. The social safety net and the currency are supported by the foreign currency reserves fund of $397 billion, a lesson learned from the 1997 financial crisis.
Grouped Articles
How Brazil’s China-Driven Commodities Boom Went Bust
Wall Street Journal 08.28.2015
Gloom on Brazil Finances Deepens
Wall Street Journal 12.17.2015
Australia Finds Something Else to Export to China
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Dilma Rousseff’s Former Supporters in Brazil Express Disillusionment
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Fight to Impeach Brazil’s Leader Tears at Fabric of Daily Life
New York Times 04.15.2016
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