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Brazil and the Global Market
According to the Global Competitiveness Report published annually by the World Economic Forum, Brazil continues to improve its ranking, from 72nd position in 2007-2008 to 64th positions in 2008-2009 and 58th position in 2010-2011. This is in part due to better managed public finances and small policy changes that help Brazilian businesses become more competitive on a global scale. The ability to absorb new technologies, Brazil’s own innovative domestic business climate, and increasingly sophisticated financial markets has also contributed to the improved ranking. Another positive factor is Brazil’s large and growing domestic market, which is already the tenth largest in the world.
Where Brazil ranks consistently low in the Global Competitiveness Report and other surveys is in education and the training of its work force. Brazil’s work force is characterized by a low level of education and specialization, and great regional differences. According to a recent New York Times article, the World Bank concluded in a 2008 report (“Knowledge and Innovation for Competitiveness in Brazil”) that Brazil’s current level of education is not sufficient in an era of global competition and that Brazil is likely to fall further behind. In the latest Global Competitiveness Report, Brazil only ranks 76th in tertiary e