Oh, how the mighty have fallen. A few years ago, Brazil was the darling of the BRICS countries: host of the World Cup and Olympics, 7% annual growth, lifting millions out of poverty... now, inflation if up, growth is not just down but negative, joblessness is on the rise, the government is barely functioning, and people are questioning whether Brazil can manage the Olympics.
January 9, 2016
How did it all go so wrong so fast? It's a complex question with a complex answer, and part of the answer has been brewing for longer than you might think.