Globalization - Brazil Case Study
- Submitted by: ritabelinda
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- Category: Politics: Economics
- Date Submitted: 07/27/2014 06:58 AM
- Pages: 6
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Globalization refers to the increasing economic and financial integration of economies around the world and the increased impact of international influences on all aspects of life and economic activity. The impact of globalization has affected economies both in a positive and negative way. Nations have had to accept the change of new modernized economies in order to initiate strategies to promote economic growth and development. Brazil is a prime case in analysing how an economy can be influenced by globalization.
Brazil is the sixth largest economy in the world and is the largest economy in Latin America. Brazil is the fifth largest country by a population of 198 million people. The country’s GDP (2012) is 2.253 trillion USD that value represents 3.93% of the world economy, GNI per capita 11,720 US, Gini Index 54.7, ranked 85 in the HDI and has a life expectancy at birth of 74 years.
Brazil having become more integrated within the global economy with strong global demand and high prices for its commodity exports has achieved rates of economic growth comparable to the fast-growing East Asian economy. In 2012, Brazil attained a real GDP growth of 0.9%, inflation at 5.4%, and interest rates at 8.5% and unemployment at 5.5%. This made significant progress on reducing its high levels of inequality, improved its public finances and achieved much greater economic stability. This growth is the result of effective policies implemented to ensure a stronger and fairer growth.
Following a season of strong growth, the country entered a period of little GDP. Growth slumped to just 0.9% in 2012, and the outlook for growth in the medium term is a return to growth rates of around 3% - below of what Brazil had been achieving between 2000 and 2012. The levels of poverty still remain high and the significant proportion of the population that has escaped from poverty is still in a vulnerable position. According to OECD survey reports, ¼ of Brazilians still live in...
Brazil is the sixth largest economy in the world and is the largest economy in Latin America. Brazil is the fifth largest country by a population of 198 million people. The country’s GDP (2012) is 2.253 trillion USD that value represents 3.93% of the world economy, GNI per capita 11,720 US, Gini Index 54.7, ranked 85 in the HDI and has a life expectancy at birth of 74 years.
Brazil having become more integrated within the global economy with strong global demand and high prices for its commodity exports has achieved rates of economic growth comparable to the fast-growing East Asian economy. In 2012, Brazil attained a real GDP growth of 0.9%, inflation at 5.4%, and interest rates at 8.5% and unemployment at 5.5%. This made significant progress on reducing its high levels of inequality, improved its public finances and achieved much greater economic stability. This growth is the result of effective policies implemented to ensure a stronger and fairer growth.
Following a season of strong growth, the country entered a period of little GDP. Growth slumped to just 0.9% in 2012, and the outlook for growth in the medium term is a return to growth rates of around 3% - below of what Brazil had been achieving between 2000 and 2012. The levels of poverty still remain high and the significant proportion of the population that has escaped from poverty is still in a vulnerable position. According to OECD survey reports, ¼ of Brazilians still live in...