business ib

Institution

Globalization in Brazil

Brazil is one of the emerging markets in the world that has been able to grab a good position in the global markets especially through its agricultural exports (Arraes, 2010). The impact of globalization in the Brazil economy cannot be ignored especially for a country that a few decades ago was suffering from economic instability, high rate of inflation, poverty and income inequality. The growth of globalization in the world has had more advantages than disadvantages on emerging markets like Brazil. The FIFA world cup of 2014 and Olympic event of 2016 which were hosted by Brazil helped in showcasing the cultural and economic strength of the country as well as leading the country to a globalization way (Zhaofeng, 2016). The two events were used in showcase the country as tourist destination through the twelve cities that were used and open up Brazil to the rest of the world. Brazil over the years has been able to implement reforms that have opened up its domestic markets leading to increased foreign direct investments inflows thus increasing international trade.

An article in the Forbes magazine on how Brazil will start producing its own big techs shows the impact of globalization in Brazil. The article is about the growth of a São Paulo-based Brazilian company called Movile which has operations in other south American countries like Argentina and Peru. The investors in one of the subsidiaries of the company iFood are UK food delivery firm JustEat (Mari, 2020). The article explains the growth of the tech industry in Brazil following influence globally and how tech companies will replace other companies. This is attributed to a flood of investments to the country that will change how business is done.

References

Virgílio Caixeta Arraes. (2010). The Brazilian Business World: The difficult adaptation to Globalization. vol.53 no.2

LI Zhaofeng. (2016). Analysis on Globalization in Brazil. Canadian Academy of Oriental and Occidental Culture. Vol. 12, No. 5, 2016, pp. 30-34.