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Are Services the Trade of the Future?

Submitted by Sebastian Saez, co-authors: Stephanie Chen on Tue, 12/06/2011 - 11:27


You see trade in services happening all around us. Medical tourism is an increasingly popular option, as patients seek affordable medical treatment in countries such as Costa Rica and Thailand. American students are choosing to earn their undergraduate degrees in Europe and Asia rather than staying close to home. More companies are finding their survival depends on business process outsourcing in developing countries. This growing phenomenon of trade in services has become the most salient characteristic of globalization.

Just a few decades ago, services such as tourism, distribution and communication were considered in the economic literature to be stagnant sectors or of little economic relevance. But now, they are a key determinant of overall countries competitiveness. Many of the costs that determine the competitiveness of domestic industries are associated with the availability and reliability of services. Moreover, trade in services is growing faster than trade in goods. The share of developing countries in exports of world services increased from 11 percent in 1990 to 21 percent in 2008.

In fact, the topic of trade in services has become a subject of recent debate among economists – between those who believe manufacturing will continue to prevail and those who side with services as the future of trade.

Brazil Announces Phase Two of the Growth Acceleration Program

Submitted by Ihssane Loudiyi on Tue, 03/30/2010 - 08:38

(All credits go to SECOM for this information)


President Luiz Inácio Lula da Silva announces US$ 526 billion in public and private investments over 2011-2014

Yesterday, Brazil launched phase two of the Growth Acceleration Program (PAC 2), announcing estimated investments of US$ 526 billion (R$ 958.9 billion) for the period from 2011 to 2014. PAC 2 includes new investment projects for the periods 2011 to 2014 and post-2014, as well as projects initiated during PAC 1 with activities that will conclude after 2010. For the period following 2014, the estimated investment is US$ 346.4 billion (R$ 631.6 billion). The two periods combined reach an amount of US$ 872.3 billion (R$ 1.59 trillion).

PAC is a strategic investment program that combines management initiatives and public works. In its first phase, launched in 2007, the program called for investments of US$ 349 billion (R$ 638 billion), of which 63.3% has been applied.

Similar to the first phase of the program, PAC 2 focuses on investments in the areas of logistics, energy and social development, organized under six major initiatives: Better Cities (urban infrastructure); Bringing Citizenship to the Community (safety and social inclusion); My House, My Life (housing); Water and Light for All (sanitation and access to electricity); Energy (renewable energy, oil and gas); and Transportation (highways, railways, airports).

“I consider PAC 2 as a portfolio of projects that the next administration can build from rather than starting from scratch, as there is no time to lose,” said President Luiz Inácio Lula da Silva during the announcement of the program.

PAC 2 Initiative in Detail...

Brazil Still on the Fast Track for Growth

Submitted by Ihssane Loudiyi on Mon, 02/22/2010 - 18:00

(Thanks and credits for sharing this information go to the Brazilian Secretariat of Social Communication - SECOM)

Brazil Positioned to Defeat Extreme Poverty by 2016

A new study indicates that Brazil has the historic opportunity to eradicate extreme poverty by 2016 and achieve the lowest rate of income inequality since the Brazilian Institute of Geography and Statistics (IBGE) began tracking such data in 1960. To achieve these results, the country needs to maintain the pace of social development achieved in the last five years, according to a study carried out by the Institute of Applied Economic Research (IPEA), released Tuesday, January 12, 2010 in São Paulo.

The IPEA document, entitled Poverty, inequality, and public policy (Portuguese only), shows that from 2003-2008 the national rate of extreme poverty (defined by IPEA as the proportion of the population earning one-quarter of the minimum wage or less) fell an average of 2.1% each year. Absolute poverty (the proportion of the population earning one-half of the minimum wage or less) fell an average of 3.1% each year.

Brazil Fights Hunger & Illiteracy

Submitted by Ihssane Loudiyi on Fri, 11/13/2009 - 18:57

(Thanks and credits for sharing this information go to the Brazilian Secretariat of Social Communication - SECOM)

 

Social development and progress continue to stay strong in Brazil:

 

With one of the world’s largest populations, Brazil’s government has invested heavily in programs to eliminate poverty and hunger and improve access to services and opportunities in low-income communities. These efforts and their success to date earned Brazil’s President Lula UNESCO’s prestigious Félix Houphouët-Boigny Peace Prize in July, and Brazil’s Minister of Social Development the World Future Council’s Future Policy Award just a few weeks ago.

 

Detailed information can be found below.

Survey Results: Brazil Stays Strong in the face of the Crisis

Submitted by Ihssane Loudiyi on Wed, 10/14/2009 - 12:38

(Thanks and Credits for this information go to the Brazilian Secretariat of Social Communication - SECOM)

Brazil is one of the world's fastest growing economies. An annual socioeconomic survey of over 150,000 households conducted by the Brazilian Government showed notable advances in housing, employment, education, access to services and a drop in income concentration among Brazilians for the year 2008 compared to the year 2007. The findings of this report, released on September 18, 2009, indicate that, thanks to major government investments in infrastructure, education, and local development, Brazil’s citizens have prospered alongside the booming economy.

According to the National Survey by Household Sampling (PNAD), conducted by the Brazilian Institute of Geography and Statistics (IBGE), Brazil saw an increase in the home ownership rate, formal jobs and income for workers, and home access to sewerage, telephone and Internet systems.

In 2008, the number of employed workers in Brazil was 2.8% higher than that of 2007, and totaled 92.4 million people.  This increase came largely from the construction sector, with growth of 14.1% that generated 900,000 new jobs across the country.  34.5% of employed Brazilians in 2008 were under formal contract employment, receiving all rights and benefits granted by law. This is an increase of 2.1 million people, from a 33.1% rate in 2007.  This increase resulted in a 5.9% increase in the number of Social Security taxpayers in 2008 as compared to 2007.