close
test_template

Review of The Impact of Globalization in Brazil

download print

About this sample

About this sample

close

Words: 713 |

Pages: 2|

4 min read

Published: Mar 18, 2021

Words: 713|Pages: 2|4 min read

Published: Mar 18, 2021

“Globalization has produced a new level of interdependence among us and is strong evidence of a new era,'' stated Eduardo Paes, the mayor of the city of Rio de Janeiro. As mentioned, globalization has prospered countries around the world and this particular essay will explore the impact of globalization in Brazil, a country in South America. Brazil has shown a vast amount of improvement in its economy via social and economic globalization. In addition, direct investments, international trade, as well as sports platform significantly contributed to the growth of the country.

'Why Violent Video Games Shouldn't Be Banned'?

Brazil has experienced economic instability, high inflation, and poverty for many years. However, due to globalization, Brazil now has the biggest economy among Latin America with GDP of $2.1 trillion. Brazil’s freedom of trade has been increasing the foreign direct investment income, which allowed economic growth in the country. It has been revealed that Macroeconomic policies have made Brazil as the leader of foreign investment. Here, macroeconomic policies include “inflation targeting policy,” which was launched for financial framework in 1999. This supplanted the “Plano Real policy,” which was instituted for the purpose of exchange rate mechanism for stabilizing inflation. This policy has further improved the level of unemployment and inflation rate. The rate of unemployment has decreased from 12. 3% to 4.7% in 2003. Similarly, it is evident that macroeconomic policy has clearly stabilized the inflation rate as the difference between August 2019 and previous month is only 0.21% (Trading Economics). Moreover, during the 1980s, Brazil was a developing country, as they were not fully engaged in international trade. However, as markets were surrounded by diverse trade barriers, it significantly affected the rate of foreign direct investment. In 2008, foreign direct investment inflow in Brazil has reached the highest point, $45 trillion, compared to 1980, which the inflow was about $1.5 billion. It has been revealed that due to its massive inflow from foreign direct investment, Brazilian development bank has a larger lending portfolio than the World Bank. To add on, when financial crisis hit Argentina and Mexico in 1997, contrastingly, there was an economic recovery in Latin America, which attracted foreign investors.

Moreover, it is evident that foreign trade in Brazil has significantly impacted the country in various areas. According to the World Bank, it has been revealed that Brazil’s main trading partners are European Union, China, United States, Argentina and Japan. In 2017, Brazil was known as the 22nd largest exporter in the world by gaining over $2019B (OEC). 11. 8% of the Brazil’s export is from Soybeans, followed by Iron Ore, which represent 9. 2% of the total exports (OEC). To add on, Brazil has imported about $140B in 2017, which allowed the country to reach the 31st largest importer in the world. Main import is refined petroleum, which account for 8.1% of the imports. Similarly, vehicle parts represented 3.62% of the total imports in Brazil (OEC). Furthermore, Brazil is maintaining a positive trend balance of $78.3B (OEC). Likewise, Brazil has expanded trade with developing countries for better inflows. During 2000 to 2003, exports to Africa increased by 1123%, Middle East by 1097%, Eastern Europe by 1086% and finally Asia by 846%. Due to its expansion of trade and investment, Brazil is emerging as a powerful economy around the world.

Beside its economic growth, social and cultural globalization significantly impacted Brazil. FIFA World Cup was hosted in Brazil during 1950 and 2014, which represent one of the countries that have hosted the most World Cups. Frank Blackmore, the KPMG senior economist, stated “Brazil’s tourism rate is around 20% higher than it would normally have been for this season of the year”. It has been revealed that World Cups in Brazil contributed 6% of the country’s growth, specifically increasing the GDP (Jaishankar). Likewise, it is believed that for every ten tourists, one job is created, which will further decrease the unemployment rate in Brazil. The influence of the World Cup in Brazil is significant that it is further positively affecting the economy via inflows.

Get a custom paper now from our expert writers.

To conclude, due to trade liberalization, foreign investment, and immense engagements in World Cups, Brazil’s economy was dramatically elevated and further formed the country as a developed region. To add on, globalization led Brazil to receive power within international organizations and has risen as an impactful country regarding international policies.

References

  1. Ahumada, C., & Andrews, C. W. (1998). The impact of globalization on Latin American states: The cases of Brazil and Colombia. Administrative Theory & Praxis, 452-467. (https://www.jstor.org/stable/25611309)
  2. De Castro, M. F., & Valladão de Carvalho, M. I. (2003). Globalization and recent political transitions in Brazil. International Political Science Review, 24(4), 465-490. (https://journals.sagepub.com/doi/pdf/10.1177/01925121030244004)
  3. Abreu, M. (2005). China´ s emergence in the global economy and Brazil (No. 491). Department of Economics PUC-Rio (Brazil). (https://econpapers.repec.org/paper/riotexdis/491.htm)
  4. Voeks, R. A. (2007). Are women reservoirs of traditional plant knowledge? Gender, ethnobotany and globalization in northeast Brazil. Singapore Journal of Tropical Geography, 28(1), 7-20. (https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1467-9493.2006.00273.x)
  5. Rodrigues, G. M. A. (2003, August). Impacts of globalization on strategies for competition in subnational governments: the case of Brazil. In Forum of Federations. (https://forumfed.org/document/impacts-of-globalization-on-strategies-for-competition-in-subnational-governments-the-case-of-brazil/)
Image of Dr. Oliver Johnson
This essay was reviewed by
Dr. Oliver Johnson

Cite this Essay

Review of the Impact of Globalization in Brazil. (2023, March 01). GradesFixer. Retrieved March 29, 2024, from https://gradesfixer.com/free-essay-examples/the-impact-of-globalization-in-brazil/
“Review of the Impact of Globalization in Brazil.” GradesFixer, 01 Mar. 2023, gradesfixer.com/free-essay-examples/the-impact-of-globalization-in-brazil/
Review of the Impact of Globalization in Brazil. [online]. Available at: <https://gradesfixer.com/free-essay-examples/the-impact-of-globalization-in-brazil/> [Accessed 29 Mar. 2024].
Review of the Impact of Globalization in Brazil [Internet]. GradesFixer. 2023 Mar 01 [cited 2024 Mar 29]. Available from: https://gradesfixer.com/free-essay-examples/the-impact-of-globalization-in-brazil/
copy
Keep in mind: This sample was shared by another student.
  • 450+ experts on 30 subjects ready to help
  • Custom essay delivered in as few as 3 hours
Write my essay

Still can’t find what you need?

Browse our vast selection of original essay samples, each expertly formatted and styled

close

Where do you want us to send this sample?

    By clicking “Continue”, you agree to our terms of service and privacy policy.

    close

    Be careful. This essay is not unique

    This essay was donated by a student and is likely to have been used and submitted before

    Download this Sample

    Free samples may contain mistakes and not unique parts

    close

    Sorry, we could not paraphrase this essay. Our professional writers can rewrite it and get you a unique paper.

    close

    Thanks!

    Please check your inbox.

    We can write you a custom essay that will follow your exact instructions and meet the deadlines. Let's fix your grades together!

    clock-banner-side

    Get Your
    Personalized Essay in 3 Hours or Less!

    exit-popup-close
    We can help you get a better grade and deliver your task on time!
    • Instructions Followed To The Letter
    • Deadlines Met At Every Stage
    • Unique And Plagiarism Free
    Order your paper now