Bloomberg Article on 29th of March: Brazil’s Industry Titans Worry They Can’t Compete is another article worth to read to understand how Brazilian Economy can be reformed for a better performance.
Rubens Barbosa, a former Brazilian ambassador to the U.K. and the U.S. who is now a business consultant, suggested in Estado de Sao Paulo bigger solutions to Brazilian economy to stay competitive. He said measures such as tax reform, expanded access to credit, new ideas to reduce energy costs, improved customs efficiency and infrastructure improvements were all needed. He added:
The recovery of industry depends on broader measures, which involve solutions for the high costs of taxation, of energy and of bank interest rates, and not of more protectionism from the government. The international scenario — which for many years will be affected by the economic and financial crisis threatening global growth and international trade, and by China aggressively competing with Brazilian products abroad and even in the domestic market — cries out for a political effort to significantly reduce Brazil’s cost.