What is Brazils economic system?
Like with many countries, Brazil’s economic system blends market and socialist characteristics. Brazil has experienced enormous economic growth in the early 21st century, but poverty and political corruption pose major challenges.IdentificationBrazil operates a mixed economic system in which many enterprises are privately owned, while the government holds large shares of other industries.SizeIn 2009, the Brazilian economy was the 10th largest in the world, with an estimated gross domestic product (GDP) of $2.02 trillion (in U.S. dollars).FeaturesAgriculture, manufacturing and mining comprise three of the key sectors in the Brazilian economy. Brazil’s government owns large shares of many industries, but over the years has privatized others, such as utilities and railroad systems. The government owns more than 50 percent of Petrobras, Brazil’s largest oil company.EffectsIn the early part of the 21st century, Brazil emerged as an important figure in the global economy. The country also ra
