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Why Brazil Is Not Coming Back Anytime Soon (In 1 Depressing Chart)

Forget currency collapses, capital outflows, crashing confidence, and current account carnage, there is one major reason why Brazil - no matter what - will not bounce back quickly...


As alive and well as the entrepreneurial spirit maybe (though with confidence at record lows, we suspect otherwise), it takes a stunning 83 days to "start a business" in Brazil...16x longer than in the US and almost 3x longer than China and India.


So absent massive and far-reaching reforms to collapse the bureacratic quagmire that is the corrupt government of Brazil (and crush the government sector's employment), no matter what actions, interventions, and confidence-inspiring acts the central planners undertake, the growth spirit simply won't be there!!!


Source: Goldman Sachs