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Brazil Will Eventually Become Economic Powerhouse

Currently, Brazil with its population hitting 186. 6 million has the ninth largest economy in the world (Jaeger, p. 2). Since the beginning of the 21st century the country has been enjoying a well-established economic stability, low inflation, high productivity rates and developing macro-economic infrastructure. Currently, Brazilian economic indexes are gradually improving in their dynamics, though some of them still remain on the average level for Latin American region. In particular, GDP growth in 2006 was hardly over 3% (Estevao). Since the middle of the last century Brazil was expected to develop shortly into “the world’s next economic power. ” However due to two-decade long economic stagnation and financial crises in the mid-1980s Brazil has lost its positions and fell…