Viewing cable 08SAOPAULO661
Title:

IdentifierCreatedReleasedClassificationOrigin
08SAOPAULO6612008-12-11 18:30:00 2011-08-30 01:44:00 UNCLASSIFIED Consulate Sao Paulo
VZCZCXYZ0001
OO RUEHWEB

DE RUEHSO #0661 3461830
ZNR UUUUU ZZH
O 111830Z DEC 08
FM AMCONSUL SAO PAULO
TO RUEHC/SECSTATE WASHDC IMMEDIATE 8773
INFO RHEHNSC/NATIONAL SECURITY COUNCIL WASHDC IMMEDIATE
RUEHBR/AMEMBASSY BRASILIA PRIORITY 9924
RUEHRI/AMCONSUL RIO DE JANEIRO PRIORITY 8943
RUCPDOC/USDOC WASHDC 3226
UNCLAS SAO PAULO 000661 
 
SIPDIS 
 
STATE INR/R/MR; IIP/R/MR; WHA/PD 
 
DEPT PASS USTR 
 
USDOC 4322/MAC/OLAC/JAFEE 
E.O. 12958: N/A 
TAGS: KMDR OPRC OIIP ETRD XM XR BR
SUBJECT:Global Economy- Brics and Anti-Crisis Arsenal - Sao Paulo 
Media Reaction - December 11, 2008 
 
Title - The BRICS now start to decelerate strongly 
 
Editorial in economic newspaper Valor Economico (12-11) says: 
"...The development of the financial crisis showed the limits of 
theories that pointed out to an economic global schizophrenia, with 
the countries that form half of the world's GDP plunged in recession 
and the emerging countries, the other half, escaping with health 
from the contagion.  The BRICS are certainly in better form than the 
developed countries to face a deceleration, but left behind their 
best memorable performances.  If the cause for the joint 
deceleration of the emerging countries is common, the differences on 
the policies adopted to face the peculiar difficulties will dictate 
the greater of lesser degree of adaptation to one of the worst 
crises in almost a century." 
 
Title - Anti-crisis arsenal 
 
Editorial in liberal Folha de S. Paulo (12-11) comments: "...In the 
sequence of solutions that were proposed during this collapse [the 
economic crisis], now is the promise of President-elect Barak Obama, 
of a gigantic package of public expenditures in infra-structure.  It 
is not enough to avoid a run on banks, or assure conditions for the 
circulation of credit.  One can conclude that in the U.S. the 
government needs to realize, itself, that it needs to make the 
expenditures that consumers and companies refuse to make.  In a few 
months, a whole arsenal of measures painfully learnt during the 
years of the 1929 crisis was put into practice.  More it is not yet 
known." 
White