In a time that Brazil lay-off thousands of Car Manufacturers workers, Fiat and Volkswagen 2.2 thousands, and try to invite programs (PDV program of voluntary dismiss) to absorb the 30% drop in Argentina’s demand of Brazilian cars; Chinese manufacturers have figured out a way -not only to export cars and teeny weeny kids toys- but to cash in on Brazilian Catholicism, flooding the market with inexpensive images of Our Lady of Aparecida, Brazil’s patron saint. Local producers can’t compete, and want the government to intervene.
It’s Said that to predict Brazilian economy figures, economist has to keep a second eye on Chinese figures. China decided, ultimately, to stabilize its economy GDP growth to some 7% while its inflation stay steady around 2%. Brazilian scenario is completely opposite, GDP growth in 2013 was 2.3% helped by strong consumer spending and investment, while we are suffering a high inflation of near 6.4% and it’s excepted to break the 6.5% target set by Central Bank of Brazil in 2015 according to O Estado de Sao Paulo newspaper.
Service sector to have a good results during the world cup (with worldcup2014 special high prices of hotel and all other tourist services) while most other sector are on hold. Economists have cut their estimates of GDP growth of 2014 & 2015.
If you are working in Brazil in 2014, prepare your teeth and nails to hold on your position.