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International Finance

Chapter Fifteen: Brazil

Brazil is the largest country in South America. It is bordered by every other South American country except Chile and Ecuador. The Atlantic Ocean flanks its eastern border. Because of its great size, Brazil supports a variety of landscapes—coastal plains, mountainous highlands, more than 1,000 rivers, and the tropical rain forest of the Amazon basin. This region, with over 40,000 species of plants, provides sources for one-fourth of the world’s medicines. In 1822 Brazil won independence from Portugal and became a monarchy. About 70 years later it became a republic. In the 20th century the Brazilian government has seesawed between democracy and dictatorship.


What Time Is It in Brazil?

Most of Brazil is two hours ahead of Eastern Standard Time. When it’s 10 a.m. in Washington, D.C., then it’s 12 noon in Brazil.


People

Brazilians are of European, African, Native American, or mixed ancestry. Unlike most South American countries, Brazil has a culture that is largely Portuguese rather than Spanish. The Portuguese were the first and largest group of European people to colonize the country. Most Brazilians are urban dwellers, living within 200 miles of the Atlantic coast. To encourage people to move farther inland, Brazil moved its capital from the coastal city of Rio de Janeiro to the inland city of Brasília. Native Americans, only about 1 percent of the population, have settled mostly in the Amazon region, where they fish and farm for a living. Brazilians enjoy traditional festivities. Their most famous holiday is Carnival, a five-day celebration of music, dancing, parades, and parties just before Easter.


Doing Business in Brazil

If you plan to do business in Brazil, here are a few tips that you might want to know.

Greetings

  • It is customary to shake hands with everyone in a group before and after a meeting in Brazil.
  • When addressing someone, use the last name and a title (Dr., Professor, Senhor (Mr.), or Senhora (Mrs.).

Gestures

  • Don’t use the U.S. sign for "O.K," a circle of first finger and thumb. It is considered vulgar.
  • Brazilians are hands-on and like to stand very close when communicating. Don’t shy away.

Protocol

  • Be punctual, but be prepared to wait for your business counterpart. Punctuality is not a Brazilian priority.
  • Business cards should be written in both Portuguese and English.
  • Don’t expect to get right to the point; the desired outcome may take several meetings. Be patient.
  • Men’s three-piece suits are sometimes associated with executive status. Women should always dress conservatively. Manicured nails, for both men and women, are a plus.


Want to know more about Brazil?

Visit www. Britannica.com.

 


   
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