Essay heading: Brazil

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July 1, 2009






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Brazil’s rulers, atleast since President Kubitschek established Brasilia, have had a penchant for building things big and they have, of course, been encouraged to do so by the World Bank. The government borrowed heavily to finance Brasilia’s construction and resulted in the country’s external debt beginning to take off exponentially and a couple of years later inflation followed...
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Economic development in Brazil began to slow, but there always seemed to be some highly visible larger projects under way, which have been instigated by President Cardoso. One such example of this was the construction of a hydroelectric dam in Sao Paulo in order to sustain the country’s growing energy needs...
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