Bilderberg.org

[rothschild desmarais]

look for the mistakes:

The Victorian majesty of berthed ships gives no hint of the difficulties the cargo must overcome on its way to and from Santos, which handles 27% of Brazil's international trade. For soya these can start in the field, where scarce storage sometimes forces growers to dispatch it to port regardless of price. Then it faces a bumpy journey on potholed roads (80% of the cargo arrives in Santos by lorry rather than by rail). Privatisation of the terminals and better traffic management have boosted the port's efficiency, but ships must still await high tide to clear the channel, which is 2m (over six feet) shallower than it should be. The state environment regulator is withholding permission to deepen it. Transport costs consume nearly 13% of Brazil's GDP, five percentage points more than in the United States, according to Paulo Fleury of COPPEAD, a business school in Rio de Janeiro. And that is only a small part of the burden that businessmen refer to despairingly as custo Brasil (the cost of Brazil).

Fecundity and frustration sum up the state of Brazil these days. It is bursting with the commodities coveted by the rising economies of Asia, from soya to iron ore. No other country is better placed to cash in on the global craze for biofuels.

The PT had opposed the Real Plan. The risk premium on Brazil's bonds soared. But Lula realised that inflation hit the poor most. Defying his companheiros, he has entrenched stability, faithfully sticking to the policy “tripod” put in place by his predecessor and political foe, Fernando Henrique Cardoso: a primary surplus (ie, before interest payments) high enough to reduce debt as a share of GDP, a floating exchange rate and inflation targets.

An investment-grade credit rating is probably only a matter of time.

One of the main reasons why Brazil's growth has been slower than China's and India's is that Brazil is richer and more urbanised.

The constitution too readily created rights—of bureaucrats to job protection, of sub-national governments to tax revenues, of ordinary citizens to government transfers—that Brazil can ill afford. They help explain why real interest rates remain among the highest in the world, why public investment in roads, ports and other infrastructure is stunted and why the tax burden befits a rich European welfare state rather than a young developing economy.
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If you want doha, you've got to give us tobin.

L'état devrait s'occuper d'aider les petites entreprises et le programme d'éducation des petites villes.