Of the rapidly developing economies that make up the BRIC, Brazil has often been overlooked by its more glamorous rivals; great powers such as the Russian Federation, China and India. However, through the consistent efforts of its celebrated past president, Luiz Inacio Lula da Silva, the nation has been left with a confident, growing middle class, prepared to drive the nation into modernity. While economic grow in the West has clearly stalled in the wake of the recent recession, Brazil has surpassed rivals Russia and India in GDP (nominal), challenging traditional European powers Britain and France for national wealth.
Just last year, Brazil demonstrated a phenomenal growth rate of 7.5%, higher than any other country save China and India, and a record high in 25 years. Despite the economic turmoil from the European debt crisis, economists still predict a roughly 3.5% growth rate this year. Although the country still struggles the lack of export compared with consumption spending, high inflation and poor infrastructure, it has established itself as a major economy. With the capital and consumer spending, it seems that for the first time in decades, the Brazilian future looks bright.
http://www.reuters.com/article/2011/03/03/us-brazil-economy-idUSTRE7222QZ20110303
http://news.xinhuanet.com/english2010/business/2011-03/04/c_13760668.htm