From BRICS to Bolsonaro – Brazil’s Relationship with Globalisation
It’s clear that globalisation has shaped our world since the term was first coined in the 1960s. Whether it has impacted it for the better or not is hotly disputed among economists globally. What this essay argues is that globalisation has had a positive impact on reducing inequality, and specifically how globalisation has impacted economic activities in Brazil. This essay will explore why Brazil fell into economic disrepair and how prior to attempts made by the International Monetary Fund (IMF), failed to reduce economic growth which subsequently led to severe inequalities in Brazil. Additionally, by looking into the theory of globalisation we will explore how inequality has been reduced within countries like Brazil. However, we must define both globalisation and inequality to truly understand the relationship between the two.