Is Brazil ready to break out of the "middle income trap" or have its issues been masked by a...


Is Brazil ready to break out of the "middle income trap" or have its issues been masked by a China-led resource boom and a massive property bubble? "Prices are crazy," says Rio's mayor. Bulls counter that mortgage debt is low, but 100% financing schemes have widespread use, giving "a strong whiff of Fannie, Freddie, and America's subprime."

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