Word: brazilianizing
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...Brazilian president Henrique Cardoso wasn't standing anywhere near Bush at that moment. Brazil, to put it simply, is the head of the skeptics. Mercosur, the South American trading bloc, isn't as thorough a free-trade area as NAFTA, and is beset with internal squabbles. But they have their pride. When Brazil hears Bush talk about three competing world trade zones, it wonders whether South America wouldn't be better off as a fourth leg - doing, as it is now, a nice little business with Europe as well as North America - rather than living in the NAFTA shadow...
...about how the meeting chemistry will be affected by the interaction among newcomers like U.S. president George W. Bush, Mexican president Vicente Fox Quesada and the mercurial Venezuelan president Hugo Chávez Frías - alongside such veterans as the durable Jean Chrétien of Canada and Brazilian President Fernando Henrique Cardoso...
...main regional trading blocs: NAFTA (total gross domestic product: $8.8 trillion) and Mercosur (total GDP: $1 trillion). The main anxiety is all too clear: fear of economic domination. In a hemispheric free-trade zone that includes the U.S., Canada and Mexico, predicts Josmar Verilla, vice president of the Brazilian Paper Producers Association, "we'll wind up in the meat grinder...
...free-trade arrangements than NAFTA. Accommodating to proposed FTAA rules that are similar to NAFTA's - the draft text mirrors the NAFTA agreement - is therefore seen as threatening. "Rightly or wrongly, the perception that much is expected from our side while little is offered in exchange is indeed widespread," Brazilian foreign minister Celso Lafer declared in Washington last month...
...Cavallo, a renowned free-marketeer, as his latest Finance Minister, with sweeping powers to dictate economic changes without legislative approval. One of Cavallo's proposed rescue measures would have slashed to zero the 14 percent Mercosur tariff that Argentina currently charges on capital goods from outside the trading bloc. Brazilian officials, at first sympathetic, erupted after reading the fine print, which included tariffs on imported cell phones, computer printers and high-technology items, all among Brazil's most lucrative exports to its neighbor. Argentina subsequently withdrew the idea...