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Cable says Brazil will outstrip European economies
20/09/2010
The UK business secretary, Vince Cable, has predicted that it will not be long before the growth of the Brazilian economy will outstrip many of those in Europe.
The leading politician and economist said the country was becoming and excellent investment choice and that the strength of emerging economies around the world, such as that of Brazil, is an incentive to build trade and investment links to capitalise on financial prospects.
Mr Cable was addressing a forum at the Economist Emerging Markets 2010 Summit, and noted that in just four years – by 2014 – the Brazilian economy will be larger than that of any European nation – including Germany.
He said: "The bigger emerging countries – China, India and Brazil – have achieved very substantial growth and reductions in poverty levels based largely on an expansion of their domestic market and domestic savings."
His claims come after an in-depth examination of the nation's prospects as part of a trade delegation trip in late August. Mr Cable led the fact finding part of representatives from 25 of the top British businesses, in a concerted effort to develop trade links and build business with Brazil.
Only last week the Brazilian Central Bank issued a revised economic outlook, elevating growth predictions to 7.42 per cent and cutting inflation by 0.1 per cent.
The leading politician and economist said the country was becoming and excellent investment choice and that the strength of emerging economies around the world, such as that of Brazil, is an incentive to build trade and investment links to capitalise on financial prospects.
Mr Cable was addressing a forum at the Economist Emerging Markets 2010 Summit, and noted that in just four years – by 2014 – the Brazilian economy will be larger than that of any European nation – including Germany.
He said: "The bigger emerging countries – China, India and Brazil – have achieved very substantial growth and reductions in poverty levels based largely on an expansion of their domestic market and domestic savings."
His claims come after an in-depth examination of the nation's prospects as part of a trade delegation trip in late August. Mr Cable led the fact finding part of representatives from 25 of the top British businesses, in a concerted effort to develop trade links and build business with Brazil.
Only last week the Brazilian Central Bank issued a revised economic outlook, elevating growth predictions to 7.42 per cent and cutting inflation by 0.1 per cent.
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