Johanson Ranabe

Just another WordPress.com weblog

With a fragile economy

This vast country was christened Brazil after the pau do brasil (Brazil wood tree). In 1807, as Napoleon Bonaparte prepared to attack the Portuguese capital of Lisbon, Prince Dom Jao of Portugal was shipped off to Brazil. In 1821, Dom Jao headed back, leaving his son Dom

Pedro I in charge of the colony. However, Dom Pedro broke away from Portugal and declared Brazil’s independence. First sugar and then coffee became the primary produce of the country. 
 
The boom in coffee attracted almost a million European immigrants, mostly from Italy, who promptly backed a military coup to oust the king. The coffee magnates all but ruled the country for the first half of the 20th century, until the worldwide depression destroyed demand.

 The next 50 years were spent with a fragile economy, regularly punctuated by military rulers and coups. The military rulers embarked on large scale projects that benefited a wealthy few, at the expense of the majority.

May 4, 2008 Posted by | expense | | Leave a Comment

   

Follow

Get every new post delivered to your Inbox.