Brazil
Thinking of continental behemoth countries, Brazil stands out as the biggest in South America. A culture of nearly 235 million people impress upon many who go there of the rich traditions that exist. A diverse population of indigenous backgrounds and migratory workers comprise this first world nation for which state of the art developments exist among surrounding of non-commercialized lands like farms, beaches and rainforests. Economically it suffered severely during spouts particularly in the 1990's as the country took an overheated growth trend of opening it's markets to foreigners that left the nation with enormous debt loads early in the decade. Lots of posturing with the IMF and big lending nations like the US during those times drew criticism and accolades while balancing payments. Brazil tried to maintain surplus trade balances to provide a means of repayment and currency reserves to stabilize it's own real. During the decade it offered some hope but consistently faced struggles to keep up. At a time of moderate stability in the late 90's the other world financial crises like Russia and Asia, effected Brazil, as investors began withdrawing capital in masse. This relapse was short lived and for more than a decade, prospects have been favorable for the world's eight largest economy.
Today China is it's biggest trading partner. Demand has been abundant for the natural resources that Brazil possess like like iron ore, oil and soy. Pushing to export more manufactured goods, agreements have been struck by president Dilma V Rousseff to provide products like aviation which Brazil is a leading regional provider. A domestic industrial boom has been dramatic recently for the natural energy business whose major players derive government influence and include Vale, Electrobras and Petrobras. In assigning these companies large projects that officials envision may accentuate living standards, state intervention was deemed necessary.
Major undertakings like expansion of offshore drilling in deepwater salt beds, many believe, shall enforce energy independence and bring exports similar to Arab-oil producing countries. Many dam developments near the Amazon Basin are underway to utilize reserves of hydroelectrically power. These require employing significant labor capital of which officials credit with having helped stem the tide of the world financial crises in Brazil. Such government sponsored projects are commonplace and also include refinery operations, shipyard construction and real estate. But conditions for workers has been suspect, leading many in recent months to protest. Monthly average pay of $550 is seen as insufficient by workers who complain it doesn't suffice for the cost of living that in some area's rivals the US. But project leaders contend the pay and benefits are ample given the amenities offered including dorms, theaters, eating facilities and more. Government sponsorship has created an environment responsible for keeping unemployment at a low of 6% and lessening the country's income disparity. But the toll of government borrowing has slowed the economic growth to around 2%. People worry that the intervention could have consequences such as an increase in consumer debt because of low interest rates and a falling currently. But for a country not immune to the dangers of financial problems, the course seems favorable particularly as it prepares to host the 2014 World Cup and 2016 Olympics.
Important city clean up missions are taking place in slum sections of Rio. These unsavory neighborhoods, located not far from upper class areas, have been a base for the drug trade. Recent police infiltration have promoted the future prospects for tourism and redevelopment. As cities poise to be significantly larger in this century, local development will be critical in shaping conditions for sustainability, infrastructure and equality of which current day Brazil seems poised to embrace.
