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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

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  • Show Comments (2)

  • Guest

    correction….
    . for China total exports US$ 760 billions and imports 660 billions !

  • Guest

    inapropriate statement !
    It should have been : no country is in bad straits YET !

    If the EU, or the U.S. will have an economic slowdown, some developing countries will have a far more pronounced slowdown.

    Simply because most developing countries dont have high internal demand they always count on their exports to developed countries !

    Brazil is the perfect example : your trade surplus was 50 % more than your total imports (Us$ 118/76 billions), while China numbers were only 15 % (Us$ 760/66billions) !!!!!

    And with whom did you get your biggest trade surplus ? The U.S.A. and the EU which also happen to be by far your 2 biggest trading partners !

    Some bad news are on the horizon….for you !

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