BRAZIL: Right-Wing Prosperity

CARNIVAL hits Brazil this week, and millions of cariocas, paulistas and other citizens will have more to celebrate than in years. Cynics have long said that Latin America's biggest country "is the land of the future—and always will be the land of the future." Suddenly, however, the future is right on the horizon.

After seven years of austerity, economic innovations and political repression, Brazil claims one of the fastest-growing economies in Latin America. Its gross national product last year advanced more than 11 % (to a still modest $40 billion). A wave of consumer...

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