“Globalization has produced a new level of interdependence among us and is strong evidence of a new era,” said Eduardo Paes, mayor of the city of Rio de Janeiro. As mentioned, globalization has prospered countries all over the world and this particular essay will explore the impact of globalization in Brazil, a country in South America. Brazil has shown great improvements in its economy thanks to social and economic globalization. In addition, direct investments, international trade as well as sports platforms have contributed significantly to the country's growth. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay Brazil has experienced economic instability, high inflation, and poverty for many years. However, due to globalization, Brazil now has the largest economy in Latin America, with a GDP of $2.1 trillion. Brazil's trade freedom increased revenues from foreign direct investment, which enabled the country's economic growth. It was revealed that macroeconomic policies have made Brazil the leader in foreign investment. Here, macroeconomic policies include the "Inflation Targeting Policy", which was launched for the financial framework in 1999. It supplanted the "Plano Real Policy", which was instituted with the aim of a mechanism of exchange rate intended to stabilize inflation. This policy further improved the unemployment level and the inflation rate. The unemployment rate fell from 12.3% to 4.7% in 2003. Likewise, it is evident that macroeconomic policy has clearly stabilized the inflation rate since the difference between August 2019 and the previous month is not than 0.21% (Trading Economics). Additionally, in the 1980s, Brazil was a developing country, as it was not fully engaged in international trade. However, as the markets were surrounded by various trade barriers, this had a significant impact on the rate of foreign direct investment. In 2008, the inflow of foreign direct investment into Brazil reached the highest point, $45 trillion, compared to 1980, when the inflow was around $1.5 billion. It has been revealed that due to its massive influx of foreign direct investment, the Brazilian development bank has a larger loan portfolio than the World Bank. Furthermore, when the financial crisis hit Argentina and Mexico in 1997, Latin America experienced an economic recovery that attracted foreign investors. Furthermore, it is evident that Brazil's foreign trade has had a significant impact on the country in various areas. According to the World Bank, it has been revealed that Brazil's main trading partners are the European Union, China, the United States, Argentina and Japan. In 2017, Brazil was known as the 22nd largest exporter in the world earning over $2,019 billion (OEC). 11.8% of Brazilian exports come from soybeans, followed by iron ore, which represents 9.2% of total exports (OEC). Additionally, Brazil imported approximately $140 billion in 2017, making the country rank 31st among global importers. The main import is refined petroleum, which represents 8.1% of imports. Likewise, auto parts accounted for 3.62% of Brazil's total imports (OEC). Additionally, Brazil maintains a positive trend balance of $78.3 billion (OEC). Likewise, Brazil has expanded its trade with developing countries to obtain better capital flows. Between 2000 and 2003,./)