“Globalization has brought about a new level of interdependence among us and is clear evidence of a new era,” said Eduardo Paes, mayor of the city of Rio de Janeiro. As mentioned, globalization has made countries around the world prosper and this essay in particular will explore the impact of globalization in Brazil, a country in South America. Brazil has shown remarkable improvement in its economy through social and economic globalization. Furthermore, direct investments, international trade and sports platform have contributed significantly to the country's growth. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essayBrazil has experienced economic instability, high inflation and poverty for many years. However, due to globalization, Brazil is now the largest economy in Latin America with a GDP of $2.1 trillion. Brazil's freedom of trade has increased foreign direct investment income, which has enabled the country's economic growth. It has been revealed that macroeconomic policies have made Brazil the leader in foreign investment. In this case, macroeconomic policies include the “inflation targeting policy”, launched for the financial framework in 1999. This supplanted the “Plano Real” policy, established with the purpose of an exchange rate mechanism to stabilize inflation. This policy further improved the level of unemployment and the inflation rate. The unemployment rate decreased from 12.3% to 4.7% in 2003. Likewise, it is evident that macroeconomic policy has clearly stabilized the inflation rate as the difference between August 2019 and the previous month is only 0 .21% (Trading Economics). Furthermore, during the 1980s, Brazil was a developing country, as it was not fully engaged in international trade. However, since the markets were surrounded by several trade barriers, this significantly affected the rate of foreign direct investment. In 2008, the inflow of foreign direct investment into Brazil reached its highest point, $45 trillion, compared to 1980, when the inflow had been around $1.5 trillion. It has been revealed that due to its massive inflow of foreign direct investment, the Brazilian Development Bank has a larger loan portfolio than the World Bank. Furthermore, when the financial crisis hit Argentina and Mexico in 1997, on the contrary, an economic recovery occurred in Latin America, which attracted foreign investors. Furthermore, it is evident that foreign trade in Brazil has had a significant impact on the country in various areas. According to the World Bank, it has been revealed that Brazil's major trading partners are the European Union, China, the United States, Argentina and Japan. In 2017, Brazil was known as the 22nd largest exporter in the world, earning over $2,019 billion (OEC). 11.8% of Brazilian exports come from soybeans, followed by iron ore, which represents 9.2% of total exports (OEC). Furthermore, Brazil imported approximately $140 billion in 2017, which allowed the country to become the 31st largest importer in the world. The main import is refined oil, which represents 8.1% of imports. Likewise, vehicle parts accounted for 3.62% of total imports into Brazil (OEC). Furthermore, Brazil maintains a positive trend balance of 78.3 billion dollars (OEC). Similarly, Brazil has expanded trade with developing countries to achieve better inflows. From 2000 to/)