Counting the Cost - From boom to bust: Brazil on the brink

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• published: 22 Aug 2015
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Subscribe to our channel http://bit.ly/AJSubscribe A few years ago, Brazil's President Dilma Rousseff appeared to be one of the luckiest politicians on record. She convincingly won an election, inherited a resource-rich economy and the country was making great strides in reducing poverty. Fast-forward to today, the economy is heading for recession, unemployment is rising, prices are soaring, and there is a corruption scandal at state energy company Petrobras which dates back to Rousseff's time as chair. Despite there being no evidence linking Rousseff to the bribes-for-contracts scheme, an independent investigation has alleged that bribes worth $2bn were paid to secure contracts with the firm. Sapping business and consumer confidence, the country's debt has reached a record high - up from $198bn in 2009 to $347bn today. The currency has tumbled by more than 50 percent and inflation is rising at almost eight percent. Triggering widespread anger at the sitting president, large-scale demonstrations have rocked the country, with tens of thousands demanding Rousseff step down. Carlos Pio, a political economist from Brasilia joins Counting the Cost to discuss what is next for the Latin American giant. Also on this episode of Counting the Cost: The EU has banned 700 'made in India' drugs, we explore what it means for India's pharmaceutical industry; and The world's first fully solar-powered airport has opened in Indian state of Kerala, and the government wants other states to follow suit. Subscribe to our channel http://bit.ly/AJSubscribe Follow us on Twitter https://twitter.com/AJEnglish Find us on Facebook https://www.facebook.com/aljazeera Check our website: http://www.aljazeera.com/ At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.' Reaching more than 270 million households in over 140 countries across the globe, our viewers trust Al Jazeera English to keep them informed, inspired, and entertained. Our impartial, fact-based reporting wins worldwide praise and respect. It is our unique brand of journalism that the world has come to rely on. We are reshaping global media and constantly working to strengthen our reputation as one of the world's most respected news and current affairs channels. Social Media links: Facebook: https://www.facebook.com/aljazeera Instagram: https://instagram.com/aljazeera/?ref=... Twitter: https://twitter.com/ajenglish Website: http://www.aljazeera.com/ google+: https://plus.google.com/+aljazeera/posts