The Economic And Social Development Of Brazil Essay

The Economic And Social Development Of Brazil Essay

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Globalisation has been crucial to the economic and social development of Brazil. In the late twentieth century Brazil face years of economic, political and social instability experiencing high inflation, high income inequality and rapidly growing poverty. However after a change of government in the 1990s and large structural changes in both the economic and social landscapes, the brazilian economy has been experiencing a growing middle class and reduced income gap. Since the start of the 21st century, brazil has benefitted from the move to a more global economy.
Globalisation, in the simplest sense, is economic integration between countries and is represented by the fact that national resources are now becoming mobile in the international market. Globalisation sees: an increase in trade of goods & services through the reduction of trade barriers; an increase in financial flows through the deregulation of financial institutions and markets and floating of currency; an increase in labour movement between countries due to deregulation and easier/cheaper transport; an increase in the use of information and communication technologies. Governments and international organisations have a major role in the move towards to global integration. The WTO has members that represent almost every country in the world (160 of 196) and helps open the global market by reducing tariffs, quotas and other trade barriers.

In 1985 President Jose Sarney and his administration inherited a country experiencing high inflation, high income inequality and carrying the worlds largest foreign debt of $95 billion. President Sarney response included a restructuring of the political and economic landscape beginning a series of plans that focused on controlling the ...


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...ew president or minister of finance came into power. However, the history of Brazil 's government has played a large role in the foundation of the pre 1990s landscape.
In 1500, Brazil started as a colony of the Portuguese empire. The country grew as it took advantage of slave labour in the production of sugar gold and coffee that it traded on the international market. Cities grew managing the local economy and administering the exports. Ports were established along the coast to facilitate military and trade operations and slowly a population of freemen grew around the export based economy. Brazil split from the Portuguese in 1822 and relied on financial support from the Rothschild banks to finance it’s government. Through the 19th and 20th century Brazil experienced ups and downs with industrial revolution, the great depression and the growth of international trade.

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