Brazil Under Globalization A Study in Political Economy

Brazil’s economy saw fast growth before the global financial crisis, but in recent years it has seen its growth rate decline. This book explores Brazil’s economic story in the 21st century. The book begins by exploring the way commodity exports, import substitution, social policy and wage increases enlarged the domestic market and induced investment, before going on to consider the failings of the growth model and global economic engagement. The volume goes on to consider the country’s future trajectory, making the argument for industrial policy rather than austerity, the reform of its model of global economic engagement and an increase in public investment.

1. General Introduction. 2. The unequal globalization Introduction Item 1. Exorbitant Privilege: the new American monetary and trade systems Item 2. Financial Globalization and the Succession of Liquidity Cycles and Crisis Item 3. Global Production Chains and the role of East Asia Item 4. The new international division of labour: South America (as Middle East and Africa) lags behind 3. Brazilian reactions Introduction Item 1. The end of development: causes and consequences of the debt crisis in the 1980´s Item 2. The neoliberal turn in the 1990´s Item 3. The crisis at century´s end 4. Lula´s Brazil between Luck and Virtue Introduction Item 1. The new multilateral payments system, boom and bubble: impacts on South America from 2002 Item 2. Economy policy: continuity and change Item 3. Why the economy grew? Income distribution and poverty eradication as engines of growth Item 4. The structural vulnerabilities 5. The Watershed: The Global Crisis and its Consequences Introduction Item 1. The Global Crisis as Catalyst of Change Item 2. The transformation of the multilateral payments system and its impact on South America Item 3. Brazil Reacts: Success and Illusion 6. Dilma´s Brazil in hope Item 1. The Currency War and the global fight for Markets Item 2. South America and Brazil up for grabs Item 3. The first ill-timed austerity drive: rationale and results 7. Dilma´s Brazil in turmoil Item 1. The new political economic matrix: too little, too late, too short Item 2. Bourgeois resistance and the construction of economic conventions Item 3. Economic downturn, business sentiment and popular revolt in 2013 and 2014 8. The failure of austerity Item 1. The second ill-timed austerity drive and the intensification of conflicts in Brazil Item 2. China as friend and foe Item 3. The slow motion of the global economic recovery and alternative scenarios Chapter 9. What is to be done?

Pedro Paulo Zahluth Bastos is Associate Professor at the Institute of Economics, State University of Campinas – UNICAMP, Brazil