The One Country That Might Avoid Recession Is...

Really great article on why Brazil might be the only major economy in the world to not go into recession this year. Although this may not sound particularly dazzling, it's a really big deal: until now Brazilians have practically taken it for granted that they always get the shortest end of the economic stick.

And it's not only mega-corporations pouring gold into the pockets of their shareholders. The article goes on to show that Brazil is actually getting less unequal. The middle class is growing (now 53%!) and opportunities for social mobility abound.

What I really want to see, assuming this seemingly miraculous state of affairs continues, is what effect it will have on the Brazilian psyche.

Will they shed their traditional low self-esteem and take a more active leadership role in world affairs? Will this new middle class adopt the bourgeoisie values of the American middle class or take a more leftward bent under the guidance of the moderate leftist Lula? And the biggest question for me: will this transformation engender a concept of nationalism and civic duty that leads to Brazilians taking responsibility for their poor and outcast, instead of focusing solely on the national soccer team and Carnaval as expressions of their national identity? Only time will tell.

"The One Country That Might Avoid Recession Is..." from TIME