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The financial crisis and Brazilian optimism

Following the impact of the economic crisis is not easy here. On Monday the Brazilian stock market slid, on Tuesday many of its big stocks recovered and it ended slightly up. And here are four items from the business sections of Estado de S. Paulo and O Globo today:

— Industrial production in Sao Paulo state, responsible for 40 percent of production nationwide, fell 13.5% from November to December.

— Workers protested GM’s laying off 10 percent of its work force at its plant in Sao Jose dos Campos (in São Paulo state) since Friday.


— Michelin will open its fifth factory in Brazil, in the unpronounceable city of Itatiaia in Rio de Janeiro state.

— According the Worldwide Independent Network of Market Research, 79 percent of Brazilians believe their family’s income will go up over the next year, compared to 47 percent of Indians, 38 percent of Chinese, 34 percent of Americans, 11 percent of Japanese, and 9 percent of Icelanders.