Brazil’s Developing Economy Essay

2006 words - 8 pages

In the current economic times the development and growth of any economy has come to a near stop or at least to a drastic slow down. The face of the global economic environment has changed and many new countries are starting to change the way their country and the rest of the world does business. One such nation is Brazil, who has turned around their own economic troubles and is becoming one of the fastest growing economies in the world (World Factbook). Brazil has started developing its economy and using the opportunity to achieve a level of respect in the world.
Brazil is both the fifth largest country in the world based off of land size and population (World Factbook). Brazil has used this demographic as a strength in its efforts to find some sort of stability in a very unstable economic climate. Brazil is the largest national economy in Latin America the world's eighth largest economy at market exchange rates and the and 10 in purchasing power parity (PPP) or GDP, according to the International Monetary Fund and the World Bank (World Fact Book). There are many factors to the development of the Brazilian economy, each having an impact, but the development is not complete.
Brazil has many developmental goals they have hoped to attain. Economic policy since the late 1960s has had three prime objectives: control of inflation, gradual improvement of the welfare of the poorest sector, and a high economic growth rate (Encyclopedia of Nations). Also there are the Millennium Development Goals set out by the United Nations to developing countries, such as, reducing poverty, increase education gender equality, reduce child mortality and improve maternal health, combat diseases, ensure environmental sustainability, and develop a global partnership for development. (Index Mundi). Each of these goals seek to create a better Brazil for their own citizens and hopefully the region. Many of these have helped in developing Brazil not only as a strong economic power but as well as a nation with good standing by the rest of the world. There are two areas which has shown to be the most beneficial to the development of the Brazilian country and economy and that is the improvement in agriculture and the import and export business.
The development of the agriculture business in Brazil was the initial step taken in creating a strong economy. Agriculture accounts for 8% of the country's GDP and with many of its natural resources could become very self sufficient (World Fact Book). Brazil is blessed with vast resources, including timber, fresh water, gold and the world's largest cache of iron ore, allowing it be the largest or one of the largest exporter and producer of beef, soybeans, coffee, sugarcane, orange juice, and frozen chickens (Newsweek). Brazil competes with the Untied States in many of agriculture areas, and has learned the importance of a variable agriculture in the world economy. Brazil is comparable to the United States when it was...

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