The United States as the leader of the developed countries this year's economic recovery is weak, so that the entire world economy continues to be in the doldrums, but also to make the beginning of the Latin American economy by the United States economic growth driven by the strong hope of the dashed. Latin America's basic export products (mainly primary products) prices fell 15%, exports slumped, the balance of payments current account deficit remains high (accounting for 2.2% of gross domestic product); foreign direct investment of 40 billion U.S. dollars, than in the late 1990s, an average of 73 billion U.S. dollars a year was greatly reduced, and because of the harsh conditions of international borrowing, in addition to the international multilateral institutions of the emergency relief loans, direct investment has basically become the only way for Latin America to obtain foreign capital, so the region as a whole has once again reversed the direction of capital flows, as it did in the 1980s, and Latin America has once again become a net exporter of capital. Fixed asset investment in the region fell to its lowest level in a decade, and international reserves totaled $150 billion, the lowest since the '98 Russian crisis.
Argentina is experiencing the worst economic crisis in its history, with gross domestic product expected to fall 12 percent this year, industrial production capacity idle at 80 percent, unemployment as high as 21.5 percent, more than half of the country's population living below the poverty line, and the domestic market shrinking, with supermarkets and hypermarkets experiencing a decline in turnover of 33 percent and 17 percent, respectively. The Argentine crisis first affected neighboring countries, with Brazilian exports to Argentina dropping by 80%, Chilean exports to Argentina dropping by half, and financial turmoil erupting in Uruguay, which has close financial ties with Argentina. All three countries experienced currency devaluations, with the Argentine recession being one of the reasons. The impact of the Argentine crisis on other countries in the region has been less immediate, with Latin American countries having difficulty issuing bonds, 50 percent less than last year, at interest rates as high as 15 percent a year, due to the plummeting prices of Argentine as well as Brazilian bonds.
According to ECLAC forecasts, Latin American economic growth in 2003 will be between 2.5 and 3 percent, which will not be enough to improve the employment situation or reduce poverty. Some experts believe that since 1997, Latin America has experienced another "lost five years", during which the regional output per capita decreased by 2%, and this year's poor population rose to 44% of the total population (43% last year), and the rate of people living in extreme poverty rose from 18.6% last year to 20% this year, with a net increase of 7 million people in poverty, of which 6 million are in extreme poverty. 7 million, of which 6 million are in extreme poverty. It is becoming increasingly difficult to achieve the goal set by the United Nations of reducing poverty by 50 percent by 2015. The persistent recession, high unemployment, and inadequate social spending in Latin American countries have created social tensions, while governments are constrained by external pressures and have limited room for action in adjusting macroeconomic policies, such as fiscal, exchange rate, and monetary policies, in order to promote recovery, and it has been pointed out that Latin America is likely to enter a prolonged low-growth period. the prospects anticipated by the economic model that was widely implemented in Latin America during the 1990s are very different from the current actual There is a wide gap between the expectations of the economic model that prevailed in Latin America in the 1990s and the current reality, a gap that has been highlighted by developments in 2002, which have raised many questions about the economic and social sustainability of the current development model and rules. The analysis of the Argentine case, which was a model for the implementation of the current model and which is now being punished most severely, is of general interest for the whole of Latin America.
To summarize, the full implementation of neo-liberalism (market-determined) and the passive involvement in globalization have led to a high degree of foreignization of the Argentine economy, excessive external dependence, loss of economic autonomy of the country, polarization exacerbated by the principle of the market of numbers without seeing the human being, and an explosion of poverty, a lack of domestic demand, and an unsustainable development, which is the crux of the problems that Argentina is experiencing today.
In the process of full-scale privatization, due to the lack of domestic capital, Argentina's major state-owned enterprises were almost entirely acquired by foreign capital, in fact, many foreign capital, such as Spanish capital, which accounted for the first place in Argentina's foreign capital, is also from the international capital market circle, not its own capital. Privatization became foreignization. Of the country's 100 largest companies, only 7 have national capital; telecommunications, water, electricity and gas supply, and aviation are monopolized by foreign capital; 7 of the 10 largest banks are foreign-owned; 90% of hydrocarbon production is controlled by foreign capital; and foreign capital controls 90.4% of Argentina's exports and 63.3% of its imports. The country's finances are sustained by debt, and solvency has become the only measure of the country's economic status. International assessment agencies have the power of life and death over the Argentine economy: if they say that you have a high degree of risk, capital will flee, and no one will believe what the government says. Neoliberalism believes that if you make the cake bigger, the share of each sector will naturally be bigger. The truth is that it was in the mid-1990s, when the Argentine economy was growing at a high rate, that poverty began to increase, that the former middle class fell into poverty, and that domestic consumption declined and growth lacked momentum. One theory suggests that the famine arose because the population grew geometrically, while food grew arithmetically. However, Argentina's food production growth far exceeds the population growth, in the world's breadbasket even occurred in the tragic death of children due to malnutrition, which can not help but cause people to think y.
According to traditional economic theory, in times of recession, should adopt a positive fiscal and monetary policy, Argentina's economy has been in recession to the extreme, but can not take any policy to stimulate production, because creditors require Argentina to continue to adopt austerity policies to ensure that the ability to repay the debt, which is the key reason why Argentina and the International Monetary Fund is difficult to reach an agreement. Argentina's public debt is about $150 billion, and the debt owed to multilateral institutions such as the IMF and the World Bank, which should be repaid by the end of 2003 alone, amounts to $13.2 billion, while Argentina's international reserves amount to only $10 billion. Almost all Latin American countries are facing the same debt problem, Latin America's largest economy, Brazil's debt is more than double that of Argentina, the crisis in Latin America is still actually a debt crisis.
Argentina was severely punished for announcing a debt moratorium, and Venezuela's Chavez government was isolated for deviating from neoliberalism, yet the recent election victories of Brazil's Lula and Ecuador's Gutiérrez, who are representative of political factions with anti-neoliberal tendencies and skepticism about globalization, reflect that Latin Americans are reflecting on a decade of economic This reflects the fact that Latin Americans are reflecting on the successes and failures of 10 years of economic reforms, summarizing their experiences, and seeking a path of development better suited to their respective conditions.
The second question:
What are the characteristics of Brazil's economic development
Brazil was known as a "mono-economy" for more than 400 years from the time of Portuguese rule to the present day. 1500 to 1550, it was mainly a collector of brazilwood (a red dye). 1650 to 1700, the northeast coast of the country produced a large amount of brazilian wood. After the discovery of gold and diamonds in the state of Minas Gerais at the end of the 17th century, the "gold rush" continued for 150 years, and after 1850, the coffee industry flourished and became the "Kingdom of Coffee". 1880 to 1912, the country was known for its natural rubber production. From 1880 to 1912, Brazil was known as the home of natural rubber. It was not until after World War II that Brazil diversified its products and focused on the development of its national economy.
Since 1947, more than 30 years, the speed of economic development, known as the "Brazilian economic miracle", of which 1968 to 1974 GDP annual average growth rate of more than 10%, this growth rate is rare in the world. Between 1960 and 1981, its GDP more than quadrupled, and its per capita GDP increased from US$247 to US$2,241. The output of many industrial products was among the world's highest. Brazil is poor in oil and coal resources, but vigorously develops hydropower and nuclear power. Brazil and Paraguay jointly built the Itaipu hydroelectric power plant, which is currently the world's largest hydroelectric power plant, and the use of sugarcane and other production of alcohol instead of petroleum, and the large-scale production of alcohol-powered automobiles are noteworthy industrial projects in Brazil. Beginning in the 1930s, Brazil accelerated its "import substitution" approach to industrialization and embarked on the development of heavy industry; in the mid-1960s, it adopted an outward-looking development strategy and strengthened its ties with the international market; and since the mid-1970s, it has emphasized the implementation of an industrialization approach that combines import substitution with export incentives. Foreign investment was utilized, and foreign technological patents and advanced equipment were actively imported, innovated and "Brazilianized" in order to promote the renewal of domestic capital and the technological revolution. In addition, additional intellectual investment, efforts to develop the country's human resources, and the cultivation of scientific and technological talent were also important factors in promoting Brazil's industrial development. However, the Brazilian economy is also facing a number of difficulties, the main problems being insufficient capital, fuel and power constraints, food shortages, mounting external debt, high inflation, irrational distribution of national income and polarization between the rich and the poor. The Brazilian economy is y dependent on the world market, which makes its development directly subject to the world economic situation, and the national economy is on a downward trend under the impact of the world economic crisis.
Responders: qianqianlo - 秀才 三才 3-29 19:01
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Continue to recession difficult to see the improvement - Latin America's economic status and prospects
According to the World Bank has just published a communiqué, Latin America and the Caribbean region's economy in 2000 appeared to be a short-lived recovery in 2001 after the basic stagnation, this year will be a contraction of 1.1% or so, is the worst recession in 20 years, Latin America has become the world's economic record of one of the worst areas, the outlook for 2003 remains The outlook for 2003 remains bleak, with one of the lowest growth rates among the regions. According to the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), the unemployment rate in the region has reached a record 9 per cent, and the problem of impoverishment has once again come to the fore. The reason for this state of the Latin American economy is that it has been affected by the global economic downturn and dragged down by the crisis in Argentina. If Argentina is not counted, Latin America can still have 1% growth this year, although the growth rate has slowed down significantly.
The United States as the leader of the developed countries this year's economic recovery is weak, so that the entire world economy continues to be in the doldrums, but also to make the beginning of the Latin American economy by the United States economic growth driven by the strong hope of the dashed. Latin America's basic export products (mainly primary products) prices fell 15%, exports slumped, the balance of payments current account deficit remains high (accounting for 2.2% of gross domestic product); foreign direct investment of 40 billion U.S. dollars, than in the late 1990s, an average of 73 billion U.S. dollars a year was greatly reduced, and because of the harsh conditions of international borrowing, in addition to the international multilateral institutions of the emergency relief loans, direct investment has basically become the only way for Latin America to obtain foreign capital, so the region as a whole has once again reversed the direction of capital flows, as it did in the 1980s, and Latin America has once again become a net exporter of capital. Fixed asset investment in the region fell to its lowest level in a decade, and international reserves totaled $150 billion, the lowest since the '98 Russian crisis.
Argentina is experiencing the worst economic crisis in its history, with gross domestic product expected to fall 12 percent this year, industrial production capacity idle at 80 percent, unemployment as high as 21.5 percent, more than half of the country's population living below the poverty line, and the domestic market shrinking, with supermarkets and hypermarkets experiencing a decline in turnover of 33 percent and 17 percent, respectively. The Argentine crisis first affected neighboring countries, with Brazilian exports to Argentina dropping by 80%, Chilean exports to Argentina dropping by half, and financial turmoil erupting in Uruguay, which has close financial ties with Argentina. All three countries experienced currency devaluations, with the Argentine recession being one of the reasons. The impact of the Argentine crisis on other countries in the region has been less immediate, with Latin American countries having difficulty issuing bonds, 50 percent less than last year, at interest rates as high as 15 percent a year, due to the plummeting prices of Argentine as well as Brazilian bonds.
According to ECLAC forecasts, Latin American economic growth in 2003 will be between 2.5 and 3 percent, which will not be enough to improve the employment situation or reduce poverty. Some experts believe that since 1997, Latin America has experienced another "lost five years", during which the regional output per capita decreased by 2%, and this year's poor population rose to 44% of the total population (43% last year), and the rate of people living in extreme poverty rose from 18.6% last year to 20% this year, with a net increase of 7 million people in poverty, of which 6 million are in extreme poverty. 7 million, of which 6 million are in extreme poverty. It is becoming increasingly difficult to achieve the goal set by the United Nations of reducing poverty by 50 percent by 2015. The persistent recession, high unemployment, and inadequate social spending in Latin American countries have created social tensions, while governments are constrained by external pressures and have limited room for action in adjusting macroeconomic policies, such as fiscal, exchange rate, and monetary policies, in order to promote recovery, and it has been pointed out that Latin America is likely to enter a prolonged low-growth period. the prospects anticipated by the economic model that was widely implemented in Latin America during the 1990s are very different from the current actual There is a wide gap between the expectations of the economic model that prevailed in Latin America in the 1990s and the current reality, a gap that has been highlighted by developments in 2002, which have raised many questions about the economic and social sustainability of the current development model and rules. The analysis of the Argentine case, which was a model for the implementation of the current model and which is now being punished most severely, is of general interest for the whole of Latin America.
To summarize, the full implementation of neoliberalism (market-determined) and the passive involvement in globalization, which has led to a high degree of foreignization of the Argentine economy, a high degree of external dependence, a loss of economic autonomy of the country, and an increase in polarization by the principle of the market of numbers without seeing the human being, which has led to a sharp increase in the number of people living in poverty, a lack of domestic demand, and the lack of sustainability of development, is the key to the problems currently encountered by the Argentine State.
In the process of full-scale privatization, due to the lack of domestic capital, Argentina's major state-owned enterprises were almost entirely acquired by foreign capital, in fact, many foreign capital, such as Spanish capital, which accounted for the first place in Argentina's foreign capital, is also from the international capital market circle, not its own capital. Privatization became foreignization. Of the country's 100 largest companies, only 7 have national capital; telecommunications, water, electricity and gas supply, and aviation are monopolized by foreign capital; 7 of the 10 largest banks are foreign-owned; 90% of hydrocarbon production is controlled by foreign capital; and foreign capital controls 90.4% of Argentina's exports and 63.3% of its imports. The country's finances are sustained by debt, and solvency has become the only measure of the country's economic status. International assessment agencies have the power of life and death over the Argentine economy: if they say that you have a high degree of risk, capital will flee, and no one will believe what the government says. Neoliberalism believes that if you make the cake bigger, the share of each sector will naturally be bigger. The truth is that it was in the mid-1990s, when the Argentine economy was growing at a high rate, that poverty began to increase, that the former middle class fell into poverty, and that domestic consumption declined and growth lacked momentum. One theory suggests that the famine arose because the population grew geometrically, while food grew arithmetically. However, Argentina's food production growth far exceeds the population growth, in the world's breadbasket even occurred in the tragic death of children due to malnutrition, which can not help but cause people to think y.
According to traditional economic theory, in times of recession, should adopt a positive fiscal and monetary policy, Argentina's economy has declined to the extreme, but can not take any policy to stimulate production, because creditors require Argentina to continue to adopt austerity policies to protect the ability to repay the debt, which is the key reason why Argentina and the International Monetary Fund is difficult to reach an agreement. Argentina's public debt is about $150 billion, and the debt owed to multilateral institutions such as the IMF and the World Bank, which should be repaid by the end of 2003 alone, amounts to $13.2 billion, while Argentina's international reserves amount to only $10 billion. Almost all Latin American countries are facing the same debt problem, Latin America's largest economy, Brazil's debt is more than double that of Argentina, the crisis in Latin America is still actually a debt crisis.
Argentina was severely punished for announcing a debt moratorium, and Venezuela's Chavez government was isolated for deviating from neoliberalism, yet the recent election victories of Brazil's Lula and Ecuador's Gutiérrez, who are representative of political factions with anti-neoliberal tendencies and skepticism about globalization, reflect that Latin Americans are reflecting on a decade of economic This reflects the fact that Latin Americans are reflecting on the successes and failures of 10 years of economic reforms, summarizing their experiences, and seeking a path of development better suited to their respective conditions.
The second question:
What are the characteristics of Brazil's economic development
Brazil was known as a "mono-economy" for more than 400 years from the time of Portuguese rule to the present day. 1500 to 1550, it was mainly a collector of brazilwood (a red dye). 1650 to 1700, the northeast coast of the country produced a large amount of brazilian wood. After the discovery of gold and diamonds in the state of Minas Gerais at the end of the 17th century, the "gold rush" continued for 150 years, and after 1850, the coffee industry flourished and became the "Kingdom of Coffee". 1880 to 1912, the country was known for its natural rubber production. From 1880 to 1912, Brazil was known as the home of natural rubber. It was not until after World War II that Brazil diversified its products and focused on the development of its national economy.
Since 1947, more than 30 years, the speed of economic development, known as the "Brazilian economic miracle", of which 1968 to 1974 GDP annual average growth rate of more than 10%, this growth rate is rare in the world. Between 1960 and 1981, its GDP more than quadrupled, and its per capita GDP increased from US$247 to US$2,241. The output of many industrial products has been among the world's highest. Brazil is poor in oil and coal resources, but vigorously develops hydropower and nuclear power. Brazil and Paraguay jointly built the Itaipu hydroelectric power plant, which is currently the world's largest hydroelectric power plant, and the use of sugarcane and other production of alcohol instead of petroleum, and the large-scale production of alcohol-powered automobiles are noteworthy industrial projects in Brazil. Beginning in the 1930s, Brazil accelerated its "import substitution" approach to industrialization and embarked on the development of heavy industry; in the mid-1960s, it adopted an outward-looking development strategy and strengthened its ties with the international market; and since the mid-1970s, it has emphasized the implementation of an industrialization approach that combines import substitution with export incentives. Foreign investment was utilized, and foreign technological patents and advanced equipment were actively imported, innovated and "Brazilianized" in order to promote the renewal of domestic capital and the technological revolution. In addition, additional intellectual investment, efforts to develop the country's human resources, and the cultivation of scientific and technological talent were also important factors in promoting Brazil's industrial development. However, the Brazilian economy is also facing a number of difficulties, the main problems being insufficient capital, fuel and power constraints, food shortages, mounting external debt, high inflation, irrational distribution of national income and polarization between the rich and the poor. The Brazilian economy is y dependent on the world market, which makes its development directly subject to the world economic situation, and the national economy is on a downward trend under the impact of the world economic crisis.
Respondent: jiajiabaobei - Trial Level 1 3-29 21:34
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< p>Continuing recession Hard to see improvement--Latin American economic status and outlookAccording to a communiqué just issued by the World Bank, the economy of Latin America and the Caribbean will contract by about 1.1% this year after a brief recovery in 2000 and a basic stagnation in 2001, which is the worst recession in 20 years, and Latin America has become one of the regions with the worst economic record in the world, and the prospect for 2003 is still relatively bleak. The outlook for 2003 is still relatively bleak, and will be one of the lowest growth rates among the regions. According to UNECLAC, the unemployment rate in the region has reached a record 9%, and the problem of impoverishment has once again come to the fore. The reason for this state of the Latin American economy is that it is affected by the global economic downturn and dragged down by the crisis in Argentina, which, if Argentina is not counted, could still have a 1% growth this year, although growth has slowed down significantly.
The United States as the leader of the developed countries this year's economic recovery is weak, so that the entire world economy continues to be in the doldrums, but also to make the beginning of the Latin American economy by the United States economic growth driven by the strong hope of the dashed. Latin America's basic export products (mainly primary products) prices fell 15%, exports slumped, the balance of payments current account deficit remains high (accounting for 2.2% of gross domestic product); foreign direct investment of 40 billion U.S. dollars, than in the late 1990s, an average of 73 billion U.S. dollars a year was greatly reduced, and because of the harsh conditions of international borrowing, in addition to the international multilateral institutions of the emergency relief loans, direct investment has basically become the only way for Latin America to obtain foreign capital, so the region as a whole has once again reversed the direction of capital flows, as it did in the 1980s, and Latin America has once again become a net exporter of capital. Fixed asset investment in the region fell to its lowest level in a decade, and international reserves totaled $150 billion, the lowest since the '98 Russian crisis.
Argentina is experiencing the worst economic crisis in its history, with gross domestic product expected to fall 12 percent this year, industrial production capacity idle at 80 percent, unemployment as high as 21.5 percent, more than half of the country's population living below the poverty line, and the domestic market shrinking, with supermarkets and hypermarkets experiencing a decline in turnover of 33 percent and 17 percent, respectively. The Argentine crisis first affected neighboring countries, with Brazilian exports to Argentina dropping by 80%, Chilean exports to Argentina dropping by half, and financial turmoil erupting in Uruguay, which has close financial ties with Argentina. All three countries experienced currency devaluations, with the Argentine recession being one of the reasons. The impact of the Argentine crisis on other countries in the region has been less immediate, with Latin American countries having difficulty issuing bonds, 50 percent less than last year, at interest rates as high as 15 percent a year, due to the plummeting prices of Argentine as well as Brazilian bonds.
According to ECLAC forecasts, Latin American economic growth in 2003 will be between 2.5 and 3 percent, which will not be enough to improve the employment situation or reduce poverty. Some experts believe that since 1997, Latin America has experienced another "lost five years", during which the regional output per capita decreased by 2%, and this year's poor population rose to 44% of the total population (43% last year), and the rate of people living in extreme poverty rose from 18.6% last year to 20% this year, with a net increase of 7 million people in poverty, of which 6 million are in extreme poverty. 7 million, of which 6 million are in extreme poverty. It is becoming increasingly difficult to achieve the goal set by the United Nations of reducing poverty by 50 percent by 2015. The persistent recession, high unemployment, and inadequate social spending in Latin American countries have created social tensions, while governments are constrained by external pressures and have limited room for action in adjusting macroeconomic policies, such as fiscal, exchange rate, and monetary policies, in order to promote recovery, and it has been pointed out that Latin America is likely to enter a prolonged low-growth period.The prospects expected from the economic model that was widely implemented in Latin America during the 1990s are very different from the current actual situation. There is a wide gap between the expectations of the economic model that prevailed in Latin America in the 1990s and the current reality, a gap that has been highlighted by developments in 2002, which have raised many questions about the economic and social sustainability of the current development model and rules. The analysis of the Argentine case, which was a model for the implementation of the current model and which is now being punished most severely, is of general interest for the whole of Latin America.
To summarize, the full implementation of neoliberalism (market-determined) and the passive involvement in globalization, which has led to a high degree of foreignization of the Argentine economy, a high degree of external dependence, a loss of economic autonomy of the country, and an increase in polarization by the principle of the market of numbers without seeing the human being, which has led to a sharp increase in the number of people living in poverty, a lack of domestic demand, and the lack of sustainability of development, is the key to the problems currently encountered by the Argentine State.
In the process of full-scale privatization, due to the lack of domestic capital, Argentina's major state-owned enterprises were almost entirely acquired by foreign capital, in fact, many foreign capital, such as Spanish capital, which accounted for the first place in Argentina's foreign capital, is also from the international capital market circle, not its own capital. Privatization became foreignization. Of the country's 100 largest companies, only 7 have national capital; telecommunications, water, electricity and gas supply, and aviation are monopolized by foreign capital; 7 of the 10 largest banks are foreign-owned; 90% of hydrocarbon production is controlled by foreign capital; and foreign capital controls 90.4% of Argentina's exports and 63.3% of its imports. The country's finances are sustained by debt, and solvency has become the only measure of the country's economic status. International assessment agencies have the power of life and death over the Argentine economy: if they say that you have a high degree of risk, capital will flee, and no one will believe what the government says. Neoliberalism believes that if you make the cake bigger, the share of each sector will naturally be bigger. The truth is that it was in the mid-1990s, when the Argentine economy was growing at a high rate, that poverty began to increase, that the former middle class fell into poverty, and that domestic consumption declined and growth lacked momentum. One theory suggests that the famine arose because the population grew geometrically, while food grew arithmetically. However, Argentina's food production growth far exceeds the population growth, in the world's breadbasket even occurred in the tragic death of children due to malnutrition, which can not help but cause people to think y.
According to traditional economic theory, in times of recession, should adopt a positive fiscal and monetary policy, Argentina's economy has declined to the extreme, but can not take any policy to stimulate production, because creditors require Argentina to continue to adopt austerity policies to protect the ability to repay the debt, which is the key reason why Argentina and the International Monetary Fund is difficult to reach an agreement. Argentina's public debt is about $150 billion, and the debt owed to multilateral institutions such as the IMF and the World Bank, which should be repaid by the end of 2003 alone, amounts to $13.2 billion, while Argentina's international reserves amount to only $10 billion. Almost all Latin American countries are facing the same debt problem, Latin America's largest economy, Brazil's debt is more than double that of Argentina, the crisis in Latin America is still actually a debt crisis.
Argentina was severely punished for announcing a debt moratorium, and Venezuela's Chavez government was isolated for deviating from neoliberalism, yet the recent election victories of Brazil's Lula and Ecuador's Gutiérrez, who are representative of political factions with anti-neoliberal tendencies and skepticism about globalization, reflect that Latin Americans are reflecting on a decade of economic This reflects the fact that Latin Americans are reflecting on the successes and failures of 10 years of economic reforms, summarizing their experiences, and seeking a path of development better suited to their respective conditions.
The second question:
What are the characteristics of Brazil's economic development
Brazil was known as a "mono-economy" for more than 400 years from the time of Portuguese rule to the present day. 1500 to 1550, it was mainly a collector of brazilwood (a red dye). 1650 to 1700, the northeast coast of the country produced a large amount of brazilian wood. After the discovery of gold and diamonds in the state of Minas Gerais at the end of the 17th century, the "gold rush" continued for 150 years, and after 1850, the coffee industry flourished and became the "Kingdom of Coffee". 1880 to 1912, the country was known for its natural rubber production. From 1880 to 1912, Brazil was known as the home of natural rubber. It was not until after World War II that Brazil diversified its products and focused on the development of its national economy.
Since 1947, more than 30 years, the speed of economic development, known as the "Brazilian economic miracle", of which 1968 to 1974 GDP annual average growth rate of more than 10%, this growth rate is rare in the world. Between 1960 and 1981, its GDP more than quadrupled, and its per capita GDP increased from US$247 to US$2,241. The output of many industrial products was among the world's highest. Brazil is poor in oil and coal resources, but vigorously develops hydropower and nuclear power. Brazil and Paraguay jointly built the Itaipu hydroelectric power plant, which is currently the world's largest hydroelectric power plant, and the use of sugarcane and other production of alcohol instead of petroleum, and the large-scale production of alcohol-powered automobiles are noteworthy industrial projects in Brazil. Beginning in the 1930s, Brazil accelerated its "import substitution" approach to industrialization and embarked on the development of heavy industry; in the mid-1960s, it adopted an outward-looking development strategy and strengthened its ties with the international market; and since the mid-1970s, it has emphasized the implementation of an industrialization approach that combines import substitution with export incentives. Foreign investment was utilized, and foreign technological patents and advanced equipment were actively imported, innovated and "Brazilianized" in order to promote the renewal of domestic capital and the technological revolution. In addition, additional intellectual investment, efforts to develop the country's human resources, and the cultivation of scientific and technological talent were also important factors in promoting Brazil's industrial development. However, the Brazilian economy is also facing a number of difficulties, the main problems being insufficient capital, fuel and power constraints, food shortages, mounting external debt, high inflation, irrational distribution of national income and polarization between the rich and the poor. The Brazilian economy is y dependent on the world market, which makes its development directly subject to the world economic situation, and the national economy is on a downward trend under the impact of the world economic crisis.
Responders: cute aobo - Magic Apprentice Level 1 3-30 17:21
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Oh. Looks like I won't be able to get the points
Respondent: Qi Shuyuan - Trial Level 1 3-31 17:02
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According to a communiqué just issued by the World Bank, the economy of Latin America and the Caribbean, after a brief recovery in 2000 and a basic stagnation in 2001, will contract by about 1.1% this year, the worst recession in 20 years, making Latin America one of the regions with the worst economic record in the world, and the outlook for 2003 is still relatively bleak, with what will be the lowest rate of growth among the regions. According to the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), the unemployment rate in the region had reached a record 9 per cent, and the problem of impoverishment had once again come to the fore. The reason for this state of the Latin American economy is that it is affected by the global economic downturn and dragged down by the crisis in Argentina, which, if Argentina is not counted, could still have a 1% growth this year, although growth has slowed down significantly.
The United States as the leader of the developed countries this year's economic recovery is weak, so that the entire world economy continues to be in the doldrums, but also to make the beginning of the Latin American economy by the United States economic growth driven by the strong hope of the dashed. Latin America's basic export products (mainly primary products) prices fell 15%, exports slumped, the balance of payments current account deficit remains high (accounting for 2.2% of gross domestic product); foreign direct investment of 40 billion U.S. dollars, than in the late 1990s, an average of 73 billion U.S. dollars a year was greatly reduced, and because of the harsh conditions of international borrowing, in addition to the international multilateral institutions of the emergency rescue loans, direct investment has basically become the only way for Latin America to obtain foreign capital, so the region as a whole has once again reversed the direction of capital flows, as it did in the 1980s, and Latin America has once again become a net exporter of capital. Fixed asset investment in the region fell to its lowest level in a decade, and international reserves totaled $150 billion, the lowest since the '98 Russian crisis.
Argentina is experiencing the worst economic crisis in its history, with gross domestic product expected to fall 12 percent this year, industrial production capacity idle at 80 percent, unemployment as high as 21.5 percent, more than half of the country's population living below the poverty line, and the domestic market shrinking, with supermarkets and hypermarkets experiencing a decline in turnover of 33 percent and 17 percent, respectively. The Argentine crisis first affected neighboring countries, with Brazilian exports to Argentina dropping by 80%, Chilean exports to Argentina dropping by half, and financial turmoil erupting in Uruguay, which has close financial ties with Argentina. All three countries experienced currency devaluations, with the Argentine recession being one of the reasons. The impact of the Argentine crisis on other countries in the region has been less immediate, with Latin American countries having difficulty issuing bonds, 50 percent less than last year, at interest rates as high as 15 percent a year, due to the plummeting prices of Argentine as well as Brazilian bonds.
According to ECLAC forecasts, Latin American economic growth in 2003 will be between 2.5 and 3 percent, which will not be enough to improve the employment situation or reduce poverty. Some experts believe that since 1997, Latin America has experienced another "lost five years", during which the regional output per capita decreased by 2%, and this year's poor population rose to 44% of the total population (43% last year), and the rate of people living in extreme poverty rose from 18.6% last year to 20% this year, with a net increase of 7 million people in poverty, of which 6 million are in extreme poverty. 7 million, of which 6 million are in extreme poverty. To achieve the goal set by the United Nations of reaching the 2015