Word: embraer
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...polarization that has paralyzed Latin America for centuries, he's helped forge one of the more successful examples of how developing nations can expand their underachieving economies while finally narrowing their often epic gaps between rich and poor. It has nurtured top-flight industrial giants like regional jet-maker Embraer, and 52% of its people are now in the middle class. And it is taking tentative but ever surer steps at asserting itself on the diplomatic front in global as well as hemispheric affairs. (Read about Brazil's higher-profile diplomatic role...
...sure, the boom - years of 5% growth and soaring exports - is over. Industrial production has plunged. Even Embraer, the aircraft maker whose jets sell to scores of airlines, and which has become a symbol of Brazil's newfound confidence, recently announced plans to lay off 4,000 employees, almost one-fifth of its workforce. Commodity exports - soybeans, steel - are weak. The main stock market is down 25% since September. But Lula, a former shoe-shine boy who heads the leftist Workers Party (PT), has so far kept the good times from becoming a hellish bust. In Brazil, that's nothing...
...Because unfettered capitalism is widely blamed for the global meltdown, economists and laborers alike say Brazil has become an example of what Lula likes to call "the financial strategy of the future." By that he means a postideological approach that is equal parts wealth creation for corporations such as Embraer and wealth redistribution for underdogs like Da Silva. All this under the kind of prudent financial regulation that seems to have gone missing in the developed world of late...
...much the same in Latin America, where Mexico's CEMEX, with nearly $21.7 billion in revenue last year, is one of the largest cement producers in the world. Brazil's Embraer is the leading manufacturer of regional jets in the world...
...most of Western Europe. Given that they can land on short runways, they can also use secondary airports that may be closer to customers' final destinations. Blink will fly 45 Cessna Mustangs, and later this summer Dublin-based Jet Bird will launch a rival European shuttle service with 100 Embraer Phenom 100s. More operators are expected as manufacturers such as Adam, Hondajet and Eclipse bring new microjets to the market...