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The economic system of Brazil is mixed and is characterized by the free market mechanisms. Like most emerging markets there are certain sectors in the economy that are left for private sector while the remaining are controlled by the government. The legal system in Brazil is based on civil law which is established under a set of laws that are organized into codes.

The article from BBC Business online looks at the troubles facing Brazil’s economy. The writers Daniel Gallas & Daniele Palumbo outline some of the key figures that suggest that the economy is not moving forward. The key figures include; no economic recovery in sight, unemployment issues, debt and weak currency and stock market. The article suggests most of the current economic problems facing Brazil have been brought by the current political system. The president bears most of the blame with some of his decisions being questioned and bearing the bulk of the blame. Politics has also been blamed for the stagnant economy while other reasons include poor government decisions, government blunders and lack of leadership in congress. Analysts though believe that the economy will start growing from 2020.

References

National Differences in Political, Economic, and Legal Systems. (2017). International Business Competing in the Global Marketplace 11th edition Hill solutions Manual Chapter 2.