| Brazil is simply booming with an economy that has | | | | secure investments, and as long as commodities... are |
| shifted into top gear and put its foot on the | | | | strong in the global arena, Brazil will continue to grow |
| accelerator. The currency is strong, exports are | | | | and prosper," he told The Associated Press. |
| thriving and Brazil's foreign debt is non-existent. A | | | | Not only is this important for Brazil economically but |
| burgeoning middle class is taking advantage of the | | | | also politically as well. |
| access to credit and millions of Brazilians are buying | | | | "Long-term, Brazil is going to be a major petroleum |
| homes and cars, allowing the economy to grow at | | | | power," said David Fleischer, a political scientist at the |
| more than 5% a year. Bio-fuels and vast oil reserves | | | | University of Brasilia. "It will enhance its importance in |
| have provided Brazil with energy independence and | | | | South America and the world as an energy supplier - |
| the government is using the money from these | | | | and that translates into political power." |
| resources to irrigate the desert and pave highways | | | | A greater role on the political stage by Brazil would |
| across the Amazon. | | | | help them join the influential world bodies such as the |
| A boon to Brazil's good fortune is the newly | | | | Group of Eight industrialised nations and perhaps win it |
| discovered oil fields off the coast of Rio de Janeiro. | | | | a seat on the UN Security Council. |
| Haroldo Lima, Brazil's top oil industry regulator told | | | | "We're going to transform this country into a great |
| reports that the oil reserve could contain 33 billion | | | | economy and a great nation," Silva told his citizens in |
| barrels of oil, which would be the biggest find of oil in | | | | February. |
| decades and could be the world's third largest. | | | | However it is hard to tell whether Brazil is in the midst |
| Despite this Petroleo Brasileiro SA, the state run oil | | | | of a social revolution that will break down the gap |
| company injected a note of caution to the good news | | | | between rich and poor to create a much bigger middle |
| warning investors that offshore deposits are | | | | class. Unlike in France there has been no bloody |
| notoriously hard to measure, let alone extract. | | | | revolution and no industrial revolution as there was in |
| However, this didn't deter investors who sent | | | | the UK to announce it. |
| Petrobras stock up by nearly 10% in a single day. | | | | "The potential is there. It looks better and better every |
| "We're already doing well, and if I look ahead, I think it | | | | year. We just need to get our game together in turning |
| will only get better," said Antonio Bonchristiano, the | | | | the potential into reality," Fleischer said. |
| Brazilian co-chief of GP Investments, Latin America's | | | | If you are interested in investing in Brazil then I would |
| largest private equity firm. He spoke at an economic | | | | recommend looking at Vale, Petroleo Brasileiro, |
| forum in Cancun, Mexico, where excited investors | | | | exchange-traded fund Brazil iShares, banks, Bradesco |
| compared notes on Brazil's potential. | | | | and Banco Itau Holding Financeira, steel makers |
| Clifford Sobel, the US ambassador to Brazil claims that | | | | Companhia Siderurgica Nacional and Gerdau, managed |
| the only way is up for Brazil as they leave their boom | | | | forestry plantation specialists Greenwood |
| and bust economic cycles behind. | | | | Management and wood pulp provider Aracruz |
| "As long as they have the ability to have a stable | | | | Celulose. |
| environment where people can make long-term, | | | | |