Brazil: Another Kind of Vote

As Brazil contemplates the unsettling results of the gubernatorial elections just held in eleven states (see THE HEMISPHERE), another kind of vote is making its impact on the country. It is a vote of confidence in Brazil's economy, and it is being cast every week by foreign investors.

Brazil has not nearly solved all its economic problems, but so many of them have been brought under control—inflation, an antiquated capital market, wide currency fluctuations—that money frightened off a few years back is once more flowing into the country. The flow is being...

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