Brazil has performed well, writes guest blogger Greg Michener, but its leaders' swagger reflects an immodesty unmerited for a country as susceptible to the winds of change as Brazil.
A couple of weeks ago, Brazilian Finance Minister Guido Mantega puffed out his chest and idly suggested that the BRIC countries might bail out Europe. A few weeks later, President Dilma Rousseff stood before the United Nations Assembly and tossed daggers at economic mismanagement in the US and Europe while at once highlighting Brazil’s sure-footedness:
Part of the world has not yet found the balance between appropriate fiscal adjustments and proper and precise fiscal stimuli to demand and growth […] It is noteworthy that it is the president of an emerging country, a country experiencing practically full employment, who speaks here today in such stark terms of this tragedy that assails the developed countries in particular.
While the swagger of Brazil’s top policy-makers may be based on the country’s good performance and the crush of the US and European debt crises, it reflects an immodesty that is simply unmerited for a country as susceptible to the winds of change and as economically and politically backwards as Brazil.
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