Word: brazil
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Dates: during 1990-1999
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...that once accounted for a third of world output "are in depression or recession, and we're still counting"; Japan, the world's second biggest economy, "is still going down--it looks like a drop of 2% this year"; in Latin America, Venezuela and Colombia are in recession and Brazil is "in a very dicey situation," saddled with an overvalued currency. Argentina also "is at risk because a chunk of its exports goes to Brazil." Even Canada is "slowing down because of Asia"--and Canada and Latin America together account for more than 40% of U.S. exports...
...mayor of a working-class town near Rio de Janeiro. The Globo TV network revealed last month that he has manipulated the system so cleverly that he earns $22,000 a month--twice the salary of the country's President--while teachers earn as little as $70 a month. Brazil was able to finance that kind of waste when foreign capital was pouring in. But now, with the global financial crisis sucking hundreds of millions of dollars out of Brazil each day, the Joy Train, whose payrolls burn up a surreal 70% of all public revenue, threatens to pull...
...PAULO, Brazil: The presidential election is over, and the first-ballot reelection of the IMF's preferred candidate, Fernando Henrique Cardoso, looks sewn up. So where's his reward -- the $30 billion bailout? For one thing, the IMF and the U.S., along with the rest of the G-7 nations, are still working on it. For another, it's supposed to be a secret...
...still runoff gubernatorial elections in which Cardoso needs support," says TIME business reporter Bernard Baumohl. "The news that austerity measures are coming along with the bailout might cost him politically with constituents." But Cardoso is pressed for time. His best chance to get those painful budget cuts through Brazil's Congress is to move fast, while he's dealing with an outgoing group that's less likely to worry about short-term political fallout. That's a presidential problem Bill Clinton would love to have right now -- his Congress looks ready to hit the campaign trail without coughing...
...Marcovaldis, who had studied oceanography together at Brazil's University of Rio Grande, resolved to stop the slaughter. With government funding, they enlisted a growing army of Brazilians to guard the sea turtles and their nests. Today 400 employees at 21 stations patrol 620 miles of coastline...