Brazil Emerging

This book discusses the social and economic problems currently faced by Brazil as one of the largest “emerging countries”. It examines the prospects of Brazilian development from an interdisciplinary perspective, and studies both socio-economic and political variables. The book embraces the large period of Brazil's development in the 20th and the first decades of the 21st Century. The peculiar attention is drawn to the short period of prosperity under the left-centrist governments as a continuation of the previous conservative modernisation model, which produced an increased dependency on China and a premature deindustrialisation of the economy. Assessing Brazilian statistics on households’ incomes and consumption, the book subsequently discusses the lack of strong social actors as the main problem in today’s Brazil. In closing, it examines probable scenarios for the country’s development and compares the situation to other “emerging countries”, including the Asian giants, China and India. The book addresses the needs of researchers in the fields of political science, economics and sociology who are seeking a better understanding of emerging countries, and the Brazilian case in particular.

The author examines Brazil's emerging role as an important actor in various sectors of global governance. By exploring how Brazil's exercise of power developed over the last decade in the sectors of health, food security and bioenergy, this book sheds light on the power strategies of an emerging country from the global south.

This book analyses key elements of the trade performance of the so-called BRIICS: Brazil, Russia, India, Indonesia, China and South Africa, in relation to the rest of the world, focusing on trade and other policies influencing that performance. It also presents a separate chapter for each country.

The New Brazil tells the story of South America's largest country as it evolved from a remote Portuguese colony into a regional leader; a respected representative for the developing world; and, increasingly, an important partner for the United States and the European Union. In this engaging book, Riordan Roett traces the long road Brazil has traveled to reach its present status, examining the many challenges it has overcome and those that lie ahead. He discusses the country's development as a colony, empire, and republic; the making of modern Brazil, beginning with the rise to power of Getúlio Vargas; the adventof the military government in 1964; the return to civilian rule two decades later; and the pivotal presidencies of Fernando Henrique Cardoso and Luiz Inácio (Lula) da Silva, leading to the nation's current world status as one of the BRIC countries. Under newly elected President Dilma Rousseff, much remains to be done to consolidate and expand its global role. Nonetheless, as a player on the world stage, Brazil is here to stay. "In part the [country's] success is due to external factors such as the high demand for Brazilian exports, particularly in China and the rest of Asia. But it also reflects sophisticated policy choices, including inflation targeting and maintenance of an autonomous central bank." —from the Introduction

Brazil is at crossroads, emerging slowly from a historic recession that was preceded by a huge economic boom. Reasons for the historic bust following a boom are manifold. Policy mistakes were an important contributory factor, and included the pursuit of countercyclical policies, introduced to deal with the effects of the global financial crisis, beyond the point where they were helpful. More fundamentally, it reflects longstanding structural weaknesses plaguing the economy, that also help explain Brazil’s uninspiring growth performance over the past four decades.

In the past, foreign shocks arrived to national economies mainly through trade channels, and transmissions of such shocks took time to come into effect. However, after capital globalization, shocks spread to markets almost immediately. Despite the increasing macroeconomic dangers that the situation generated at emerging markets in the South, nobody at the North was ready to acknowledge the pro-cyclicality of the financial system and the inner weakness of “decontrolled” financial innovations because they were enjoying from the “great moderation.” Monetary policy was primarily centered on price stability objectives, without considering the mounting credit and asset price booms being generated by market liquidity and the problems generated by this glut. Mainstream economists, in turn, were not majorly attracted in integrating financial factors in their models. External pressures on emerging market economies (EMEs) were not eliminated after 2008, but even increased as international capital flows augmented in relevance thereafter. Initially economic authorities accurately responded to the challenge, but unconventional monetary policies in the US began to create important spillovers in EMEs. Furthermore, in contrast to a previous surge in liquidity, funds were now transmitted to EMEs throughout the bond market. The perspective of an increase in US interest rates by the FED is generating a reversal of expectations and a sudden flight to quality. Emerging countries’ currencies began to experience higher volatility levels, and depreciation movements against a newly strong US dollar are also increasingly observed. Consequently, there are increasing doubts that the “unexpected” favorable outcome observed in most EMEs at the aftermath of the Global Financial Crisis (GFC) would remain.

This book discusses the social and economic problems currently faced by Brazil as one of the largest “emerging countries”. It examines the prospects of Brazilian development from an interdisciplinary perspective, and studies both socio-economic and political variables. The book embraces the large period of Brazil's development in the 20th and the first decades of the 21st Century. The peculiar attention is drawn to the short period of prosperity under the left-centrist governments as a continuation of the previous conservative modernisation model, which produced an increased dependency on China and a premature deindustrialisation of the economy. Assessing Brazilian statistics on households’ incomes and consumption, the book subsequently discusses the lack of strong social actors as the main problem in today’s Brazil. In closing, it examines probable scenarios for the country’s development and compares the situation to other “emerging countries”, including the Asian giants, China and India. The book addresses the needs of researchers in the fields of political science, economics and sociology who are seeking a better understanding of emerging countries, and the Brazilian case in particular.

This volume is a critical inquiry into the social project and socioeconomic realities of emerging Brazil, a country that faces profound changes. A team of acknowledged specialists on Brazil’s complex configuration addresses state policies, social dynamics and economic constraints and opportunities for emancipation. Chapters adopt long-run perspectives on the development of the Brazilian welfare state, limits and opportunities for emancipation in the labor market, the scope and depth of social policies such as "Bolsa Família" and Rio’s Peacemaking Police Units (UPP), social movements - in particular, the Movement of the Landless (MST) - cultural policies at the federal level, the role of media in the country’s democratization project, and how two important commodities (sugar and oil) shape the identities of blacks and whites in Bahia. This book is essential reading for all those interested in understanding what kind of Brazil has acquired a prominent global position and what hurdles it faces to consolidate its position as a global player.