Business

A drop in commodity prices: a looming crisis for Brazil

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Brazil continues highly dependent on commodities

In 2012, while Brazil was still the darling of the emerging world, Indian investor Ruchir Sharma wrote an article on Foreign Affairs describing why he was pessimistic about Latin America’s top economy. He wrote:

“this glowing image of Brazil rests on an extremely shaky premise: commodity prices. The country has grown largely in concert with surging demand for its stores of oil, copper, iron ore, and other natural resources. The problem is that the global appetite for those commodities is beginning to fall. And...

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