Despite US Slowdown, Smooth Sailing Forecasted for Brazil

The global economy is expected to grow less in 2006, but the slowdown in the US, European, and Japanese markets should not derail development in emerging countries like Brazil.

This is the assessment made by the executive director of the World Bank (IBRD), Otaviano Canuto, at a seminar, "Prospects for the Brazilian and Global Economy in 2006," in Rio de Janeiro, in the Brazilian southeast.

According to Canuto, the emerging markets, which have changed for the better, are not faced with the likelihood of crisis or recession.

"The situation in the emerging markets will not be affected by a possible mild setback in the global economy. No country is in bad straits, and this goes for Brazil," he added.

Canuto observed that 2006 began under a cloud of anxiety cast by the disappointing Gross Domestic Product growth in the United States in the final quarter of last year. Nevertheless, he considered that the effects did not spill over into the European and Asian economies in January.

The executive pointed out that the major positive impact on the global economy this year will be the incorporation of 40% of the world’s population into the labor force. And this covers only the influx of Chinese and Indian workers.

Agência Brasil

Tags:

Ads

You May Also Like

The Best Brazil’s Poetry in Portuguese and English

A new bilingual anthology of Brazilian poetry will allow English speakers to experience an ...

Brazil Goes to Germany for a Big Push of its Coffees

To consolidate Brazil's position as one of the leading suppliers of coffee to the ...

Brazil Lula’s Popularity Tumbles 10 Percentage Points

Brazilian President Luiz Inácio Lula da Silva’s popularity declined from 59.9% in July to ...

Angels’ Overtime

The Catholic Church—which is against the use of condoms and other contraceptives in any ...

Brazilian industry stops growing in 2007

Inflation Is Up and Surplus Down in Brazil

Brazil's weekly Consumer Price Index (IPC-S) went up faster, in the second week of ...

Brazil: Death Threats and Intimidation Still Common Where Sister Dorothy Was Murdered

“The victims have become the accused.” This quote from Friar Jose Amaro Lopes de ...

Brazil’s Machinery: The US$ 23 Bi Gorilla Faces Chinese Invasion

The machinery and equipment industry is one of the greatest sectors in the Brazilian ...

Brazil Surplus Reaches US$ 19.6 Billion with Exports Growing 21%

The Brazilian balance of trade recorded a US$ 998 million surplus in the fourth ...

Brazilian Investors Go Shopping After Recent Stock Market Sell-Off

Latin American stocks were mixed, with Brazilian shares jumping on bargain hunting and tame ...

Only 15% of Brazilians Smoke, But 47% Are Overweight and Drinking Is on the Rise

Between 2006 and 2009, the number of people in Brazil who are overweight rose ...