B R A Z I L Profile
Brazil, one of the world’s fastest-emerging economies, is located in the eastern part of South America. The country shares border with 10 Latin American countries: to the south, Uruguay and Argentina; to the west, Paraguay, Bolivia and Peru; and to the north, Colombia, Venezuela, Guyana, Suriname, and French Guyana (Marketline). Brazil is South America’s most influential country, an economic giant and one of the world’s biggest democracies (Brazil Profile). It is one of the rising economic powers - otherwise known as BRICS nations - together with Russia, India, China and South Africa. There has been a wide gap between rich and poor in the past, but in the recent years the government has made an effort in reducing social and economic inequality leading to the grow of the middle social class and raising millions out of poverty. Brazil’s natural resources, particularly iron ore, are highly prized by major manufacturing nations, including China. Thanks to the development of offshore fields, the nation has become self-sufficient in oil, ending decades of dependence on foreign producers.(Brazil Profile) As the country is emerging, Brazil is rapidly growing in the fashion industry as well. The country’s economy has been expanding steadily for years, a result of a stable political and social climate and long-term reforms set in place by the current and previous government administrations (Anaya). According to the journalist Suleman Anaya, Brazil is among the BRIC countries and is the only one with major fashion industry of its own. “One of the things Brazil has working for it is that it’s a country that really supports their own — their own production, their own artists, and even their own trade. That makes it less dependent on other countries.” commented Sara Andrade, the influential fashion editor of Vogue Portugal, on a BOF article.