Brazil: Is the Boom Over?
From annual economic growth of around 7% per year in the not so distant past, Brazil scraped a meagre 1% rise in output last year, as exports to China slowed down and consumer credit levelled off. Simon Jack reports from Sao Paolo and asks is Brazil's boom time over? He asks Ilan Goldfejn, chief economist at Brazil's largest private bank ITAU, whether current consumer spending levels can be sustained.
What impact is the memory of hyperinflation having on today's consumers? Economics professor Rafael Costa Lima remembers it all too well. Meanwhile, underpinning all of this is the whiff of corruption. Is the so-called 'Brazil Cost' - the premium for getting business done in Brazil - creating a drag on the country's economy, Simon asks professor of political science, Bruno Speck, for his view.