Brazil Currency Devaluation Essay examples

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Introduction - History
The Spanish navigator Vicente Yáñez Pinzón was the first known European in the region now constituting Brazil. Landing near the site of present-day Recife on January 26, 1500, he subsequently drifted northward as far as the mouth of the Orinoco River. In April 1500, the Portuguese navigator Pedro Álvares Cabral also reached the coast of present-day Brazil and formally claimed the surrounding region in the name of Portugal. The territory was named Terra da Vera Cruz (Brazil Historical Setting). About a year later in 1501, an expedition under the command of the Italian navigator Amerigo Vespucci was sent to Terra da Vera Cruz by the Portuguese government. In the course of his explorations Vespucci named many capes and
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Brazil has the third largest block of remaining frontier forest in the world and ranks first in plant biodiversity among frontier forest nations. The Brazilian Amazon provides more timber than any other tropical forest on the planet. Over 28 million m3/year come principally from Pará, Mato Grosso and Rondônia states. The majority of the wood stays in Brazil (86 percent), and 20 percent of that supplies the markets in São Paulo state (Brazil’s Forests in Brief). Among Brazil’s other gifts of nature are find mineral resources such as quartz, diamonds, chromium, iron ore, phosphates, petroleum, mica, graphite, titanium, copper, gold, oil, bauxite, zinc, tin, and mercury, manganese, nickel, platinum, uranium, hydropower
Politics (past/present)
In 1961 Janio da Silva Quadros became President. He believed that Brazil had to trade with all nations and worked to increase trade with communist countries such as Cuba. Pres. Joao Goulart succeeded him after seven months, when military leaders feared that Silva would open the doors for a communist take over. In 1964 troops forced Goulart out of office and Gen. Castel Branco took over. Branco was given many powers by the military including the right to suspend the rights of citizens and he was succeeded by three other Generals until 1978. During the late 1960's and early 1970s Brazil's economy flourished after the military banned political as well as trade union activities (Brazil Government).
In 1985 military

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