Brazil on the Rise

Professor Milene Prewitt

Brazil On the Rise
Mary Catherine Ford
Febuary 23, 2012

The economy in American seems like it will never turn around. Which is a stark difference from Brazil’s situation. Their economy is on the rise and will continue to grow. By the end of 2012 it will rank number six in the world, according to International Monetary Fund.

Brazil can pay tribute to their success by the little affect the global financial crisis had on them. The crisis hit them in 2008, in reaction to this they revved up their natural recourses exports. One company that did this was, Petrobras oil company. Which now has a presence in 30 countries. With foreign and domestic investments at $76 billion, according the Petrobras website. It is also the third largest energy company in the world since 2011.

China was one country that took notice of the big things happing in Brazil. Which sparked a trade relationship. Their trade revenue hit an all time high at $11 billion last year alone, according to BBC News. Even after this Brazil is still aiming at wiggling its way into China’s market even more. By using their natural recourses such as iron ore and oil.

This relationship between Brazil and China strengthened many Brazilian companies. Which would result in higher wages for the people. With these higher wages Brazilians are able to put their money back into the country. Thus, helping businesses flourish within.

“If you want a job, you can find work. There are too many available jobs and not enough workers,” said Milene Prewitt, Brazilian and Spanish Professor at the University of Mississippi (referring to her hometown of Jose Bonifacio, Brazil).

Prewitt’s entire family remains in Brazil and is striving thanks to the booming economy. Her family’s Auto Repair Shop has so much business; they don’t know how to keep up.

This isn’t a bad problem to have; most business in American would die for that. But according to Prewitt her family complains about this fact.

“Brazilians are known complainers. We were born with this trait,” said Prewitt.

Despite the complaints of Prewitt’s family they are very excited that the economy is doing so well. They have really benefitted from it.