Most of the world’s economies may be in freefall, but Brazil’s still going strong.
Any doubts about this regional giant’s economic clout should be put to rest after this report about its bid to buy military aircraft.
Brazil has been shopping around for fighter planes to bolster its military prowess. Its budget? $5 billion.
That got some attention from Sweden, France and U.S.’s Boeing Co., which expects Latin American air traffic to grow at accelerated rates over the next 20 years. And Brazil, as the regional powerhouse and by far the largest economy, will want increasingly to assert its dominance.
The bid is so important to the U.S. that President Barack Obama has even stepped in, personally lobbying his counterpart in Brazil, President Dilma Rousseff, to help sway the deal.