UNCLAS SAO PAULO 000108
STATE INR/R/MR; IIP/R/MR; WHA/PD
DEPT PASS USTR
E.O. 12958: N/A
TAGS: KMDR OPRC OIIP XM XR XF BR
SUBJECT: Media Reaction Sao Paulo February 18 2009
Media Reaction: Global Economy: Financial market crisis;
protectionism; Sao Paulo.
February 18, 2009
Title- Re-directing Expectations
Article in liberal Folha de S. Paulo (2-18) by Haroldo Guimares
Brasil says: "....we live in an economy of expectations since the
institution of currency. Protectionism is not the cause, but the
consequence of the current economic condition. To discuss and act
against Obama's protectionist package is to shoot at the wrong
place. We should fight for government packages that have economic
results and [that] re-direct expectations."
Title- Argentines and Brazilians
Editorial in liberal Folha de S. Paulo (2-18) states:
"....experience and theory show....that keeping protectionism for an
uncertain time ends with the general distribution of losses.....the
solution, always delayed, is to find formulas to extend productive
investments on the Argentinean side of the border."