Brazil is doing a China-lite. The global slowdown has hit Latin America’s biggest economy hard. Growth has fallen from 7.5 per cent just two years ago to less than 2 per cent now. To stop things getting even worse, President Dilma Rousseff has unveiled several stimulus packages this year. The latest is an investment programme, with the first phase announced this week. This will see $66bn of private concessions granted to build new roads and railways. Finance will also be provided, Chinese-style, by Brazil’s state development bank.
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