TRADE: They're Ready For a Spree

They're Ready For a Spree

For more than 40 years, Brazilians have had to settle for domestically built radios, TVs and other high-priced, often poorly made and outmoded goods. To protect its industries, Brazil has traditionally barred imports that could compete with local products. But the government of President Fernando Collor de Mello has shattered that custom with a plan to remove import bans and cut tariffs on virtually everything from cars to clothing. Said Economy Minister Zelia Cardoso de Mello: "These measures represent a revolution, a profound break with the past."

The moves were the latest reforms by Collor, who froze most Brazilian bank deposits...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!