Brazil is the eighth-largest economy in the world and the largest in South America. Brazil’s diversified economy runs the gamut from heavy industries, such as aircraft and automotive production, to mineral and energy resource extraction. It also has a large agricultural sector that makes it a major exporter of coffee and soybeans.
Brazil emerged from a severe recession in 2017 and suffered a series of high-level corruption scandals along the way. In the wake of these events, Brazil instituted a series of major economic reforms intended to rein in public spending and debt, invest in energy infrastructure, lower barriers to foreign investment, and improve labor market conditions.
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