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Self-inflected impediments may restrict the country's structural growth, but there are still significant companies with real options.
Oh, Brazil! What ails thee?
We have not been convinced of any scenario in which Brazil emerges as a growth economy. We believe it simply has too many self-inflicted impediments to support material structural growth. There are always cyclical swings and in Brazil - as an example of what we call the Latin American funk - these swings are volatile, brief and brutal. Nevertheless, we believe there is