FLRU - Brazil Vs. Russia: Fragility Vs. Resilience
In the past, I compared Brazilian, Russian, and Chinese economic fundamentals and stock market valuations. My conclusion was that Russian stocks were much cheaper than Brazilian stocks, and at the same time, Brazil had incredibly worse economic fundamentals, when compared to Russia.
Following that article, I also wrote on how Brazil's "Nova Previdência" plan was not enough to take it off the unsustainable fiscal path it was on.
Since then, of course, the coronavirus epidemic hit. The epidemic had several immediate consequences the world over:
- A large drop in worldwide economic activity, trade,