The depreciation of the Brazilian real, which is the worst-performing major currency this year, may be helping reignite economic growth in Brazil after a “weak” first quarter of 2012. Economic growth in Brazil, the world’s sixth biggest economy, has been recovering more slowly than anticipated even as the government steps up interest rate cuts and reduces taxes. The country is also actively looking toward expanding its technology segment by attracting tech companies from around the world. Interestingly, in Facebook’s bid to go public, the company touted Brazil as one of its main growth drivers.
1. According to the video, who makes up the “Geeks on A Plane” group?
2. According to the video, what percentage of Brazilians are connected to the Internet and what are the trends for the future?
3. According to the video and article, what factors are not attractive to Internet investors and venture capitalists who are thinking about starting operations in Brazil? Describe these in terms of costs.
CNN Video. (2012) Brazil’s tech sector lures ‘geeks.’ CNN.com, May 21 (Retrievable online at www.cnn.com/videos)
Arai, A. and H. Marinho. (2012) Brazil Says Economic Growth Recovering After Weak First Quarter. Bloomberg.com, May 20 (Retrievable online at http://www.bloomberg.com/news/2012-05-18/brazil-2012-growth-recovering-after-weak-start-mantega-says-1-.html)