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Originally Posted by FCZ
None of them. Things are getting better, clearly. Surprise me that you guys have to defend Brazil on these grounds. 
The link below is for Goldman Sachs. Click the Jim O'Neill link, it's a short video. He is the guy, the guru for the more exalted ones.
Goldman Sachs | BRICs |
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O'Neill, head of global economic research at Goldman, said China, India and Russia were actually growing faster than originally predicted by his research.
"Of the four BRICs, Russia, China and India have all grown on average 2 percent more than we suggested," he said. "It is a hell of a lot so they are now collectively 16 percent of global GDP so it is all happening a lot quicker."
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Anyone notice they didn't mention Brazil? The ONLY country of the 4 BRIC's that wasn't mentioned. From 2003 until 2007 the entire globe grew at a medium rate of 4+%.....Brazil didn't even make par. Only Haiti grew at a slower rate during that time period than Brazil in Latin American and Carribean countries.
And now the interest rates are rising once again. Twice in the last 3 months. Now to 12.25% per annum. And the biggest detriment has been inflation, seeing large increases in flour (farina de trigo), rice, beans, and other staples. When a country has 40 million of it's populuation making less than 2 U.S. dollars per day it has a dramatic effect.
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Detractors say optimistic predictions about the BRIC economies ignore major hurdles to their development such as future political instability, rampant corruption and decrepit infrastructure.
Economists repeatedly forecast in the 1950s and 1960s that Brazil would become one of the world's top economic powers, only for its once-rapid growth to stall dramatically in the debt crisis of the 1980s and to stagnate throughout the 1990s.
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And there it is.....
Custo Brasil!