For those who said I was too negative about "booming" Brazil in 2010-11, yet
another article showing why I was right not to see a decent future there:
"
The stakes are high for an emerging democracy getting rocked by the end of the commodity boom. Not too long ago, the South American exporter of iron, soy, coffee and other goods inspired so much optimism that some analysts boldly predicted it was maturing into a global power. But Brazil’s outlook is unraveling. Chinese demand for its commodities slowed, opening up funding gaps for welfare, credit and construction programs launched in the good times. Brazil now risks losing its investment-grade rating, which could spark a chaotic selloff of its currency, economists say."
