I want to flag this as an issue since no one seems to be talking about it. Brazil's economy has slowed very sharply of late and along with slowdowns in India and China, it says that the global economy will get less incremental lift from emerging markers.
Here's the trajectory:
Brazil central bank cuts 2011 growth forecast to 3.5%, BBC News, 29 Sep 2011: "Brazil's central bank has lowered its forecast for economic growth to less than half of last year's, partly blaming the slowing global economy. The central bank lowered its prediction for growth in 2011 to 3.5%, from 4% that it expected in June."
Dip in Consumer Spending Slows Growth in Brazil, NY Times, 07 Dec 2011: "A decline in consumer spending contributed to a slight contract...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.