While much of the rest of the world endures the global economic recession, Brazil is basking like a sunbather at one of its pristine beaches, comfortably assured in its 5% annualized growth rate and its envied position as the 10th largest economy in the world. Hordes of U.S. and European multinationals have established operations in the country, followed by a supply chain samba line of their suppliers and their suppliers' suppliers.
In just a single generation, Brazil has emerged from political instability, hyperinflation and a massive debt load to stand alongside China and India as one of the booming emerging market economies. Brazil jettisoned its last dictator in 1985 and replaced him with a democratic government that has reined in foreign debt, implemented key monetary and other fiscal reforms, cultivated and nurtured a growing lower middle class, and invested in much-needed infrastructure projects.
The latter are driven in part by the Brazil's hosting of the 2014 World Cup and 2016 Olympics, two events that will open the eyes of the world to a different country, one finally living up to its national motto–Ordem e Progresso, or Order and Progress.
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