Today the Brazilian ministry reduced the growth estimate from 3% to 2% for 2012.
CNBC also reports that John-Paul Smith argue that investment in the BRIC countries (Brazil, China, India, China) is unwise at the moment. In the case of Brazil the argument is that the governments of South America gets to involved in the internal business dealings of individual businesses. From the perspective of the politicians this is done in order to force the businesses to act in a manner that is beneficial, from their perspective, to the society as a whole and not just the individual investors.
As a whole for all BRIC countries his recommendation remains “sharp underweight”.