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Brazil passes the UK as the #6 economy

by Rodan ( 2 Comments › )
Filed under Brazil, Economy, Headlines, UK at March 7th, 2012 - 12:47 pm

The news of Brazil surpassing The UK as the world’s six largest economy doesn’t shock me. They have a larger population and more resources. This also should be a warning to the US. Socialism doesn’t work and slows down economic growth rates.

NEW YORK (CNNMoney) — Despite battling slower growth of its own, Brazil’s economy surpassed that of the sputtering United Kingdom in 2011, according to a new estimate from the Center for Economics and Business Research.

Brazil’s Gross Domestic Product for the year was $2.469 trillion, according to the study — making it the sixth-largest economy in the world.

Brazil eked ahead of the United Kingdom — which had total production of $2.420 trillion — by a razor-thin margin of only $49.2 billion.

“Brazil has a large workforce and extensive natural resources,” said Tim Ohlenburg, a senior economist at CEBR. “It’s set to grow faster than most European countries.”

This was inevitable and the reason why state regulation and interference is a bad thing. Kudos for the Brazilians for making the right economic decision. But they should also heed where Europe and now the US, have gone wrong.

 

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2 Responses to “Brazil passes the UK as the #6 economy”
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  1. brookly red
    1 | March 7, 2012 8:23 pm

    This also should be a warning to the US. Socialism doesn’t work and slows down economic growth rates.

    I have nothing to add, I just wanted to read that again.


  2. lobo91
    2 | March 8, 2012 9:39 am

    @ brookly red:

    This also should be a warning to the US. Socialism doesn’t work and slows down economic growth rates.

    Well, unless you’re actually trying to slow down growth.

    Then it works fine.


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