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What are some of Brazil's economic strengths? What are some significant economic differences between Brazil and the United States?
What are some of Brazil's economic strengths? What are some significant economic differences between Brazil and the United States?
Expert Solution
Brazil enjoys various economic strengths that include;
i. Varied mineral resources and agricultural harvests.
ii. An advanced manufacturing industry in aeronautics, chemistry, oil and gas production and pharmaceuticals.
iii. Improved institutional transparency thereby curbing corruption.
iv. Ability to withstand external shocks such as substantial reserves and its foreign creditors.
v. A high and increasing active population.
The United States has a top tax rate of 39.6% while Brazil's is 27.5%
The GDP per capita in the US is $59500 while in Brazil it is $15600
There is 4.4% unemployment in the U.S, while Brazil's stands at 11.8%
15.1% persons in the US live below the poverty line. In Brazil the number is 4.2%.
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