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Scoop.it!
Experts say India concerned about expansion and any overt anti-west turn as leaders fly into South Africa 
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Brazil is an agricultural powerhouse, but up to 80 per cent of the farms are small, family-run businesses, and a significant number are struggling. High interest rates, an outdated, over-complicated credit system, and a lack of bank branches in rural areas have led to a loans crisis for those most in need. The private sector is filling some of the holes, but critics say much more needs to be done.
Graham Watson's insight:
This FT clip looks at the rise of Brazil as an agricultural powerhouse, as well as the fact that small-scale farms - which represent 80% of all farms, and produce 23% of output - might be missing out.
They only receive 14% of all investment in the sector, and this means that they are under-represented in this regard, imperilling them. The clip looks at how the private sector has stepped in to support them in the absence of the proper support from the financial sector. Even so, this lack of appropriate investment has increased inequality and increased poverty.
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The US President says the countries' weak currencies and cheap exports are harming US farmers.
Graham Watson's insight:
He just can't help it, can he? The President of the United States has reintroduced tariffs on Brazilian and Argentinian steel, among other things, in response to their weaker currencies making their exports cheaper.
He has chosen to interpret this as a competitive 'devaluation' of their currencies - which is a pity because floating currencies 'depreciate' rather than be devalued. And it also suggests that the he's chosen to overlook the factors that have caused this, notably the economic crisis in Argentina.
'Twas ever thus: an ignorant man with power throwing his weight around, not on the basis of good policymaking, but in a desperate attempt to shore up his vote among the farming community, who have been some of the hardest hit by his economic policies.
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A greater focus on productivity is urgently needed to promote economic development and reduce pressure on natural forests in Brazil’s Amazonian states, according to a new World Bank report. A Balancing Act for Brazil’s Amazonian States: An Economic Memorandum emphasizes that rising living standards and preserving standing forests can be complementary under a development model that simultaneously promotes urban and rural productivity, forest protection, and sustainable rural livelihoods. Conservation finance can play a critical role in funding this model.
Graham Watson's insight:
This World Bank clip looks at the prospects for sustainable development for Brazil's Amazonian states, starting from the premise that the forest effectively contributes $317bn to the Brazilian economy each year.
It highlights the fact that biodiversity and sustainable farming of Amazonian products - such as acai and Brazil nuts - are going to be a key part of the Amazonian States future, as well as the importance of property rights, incentives and the rule of law in all of this.
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The US car giant is closing its last three Brazilian factories, with a loss of 5,000 jobs.
Graham Watson's insight:
The end of an era: Ford is to close its last three factories in Brazil, with 5,000 workers expected to lose their jobs, as a result of the coronavirus pandemic and low demand.
Expect a negative regional multiplier in those areas where the plants are located.
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On 25 January 2019, a dam at an iron ore mine in Brumadinho collapsed. It caused a huge landslide that buried everything in its path.
Graham Watson's insight:
The first minute of this Newsnight clip is horrifying. And the consequences of the collapse of the dam at Brumdinho are equally horrifying.
This is a salutary tale about the costs of economic development and the factors that can contribute to man-made disasters such as this an the impact of this on the individuals concerned and development more generally.
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Not much economic theory here - but this weeks BRICS summit brings together the current members of the bloc - Brazil, Russia, India, China and, latterly, South Africa. However, the focus of the meeting seems to be on making the group more relevant - potentially enlarging it to include other members.
There's not much theory here - it's more of a 'scoop' to highlight something that might represent a shift in economic gravity, and perhaps a realignment of the group is appropriate given the fact that South Africa isn't even the largest economy in Africa, with Nigeria and Egypt both being larger.