Tudo bem, Stanford? I write to you from Brazil, where I have spent the past seven weeks working for a commercial real estate company in São Paulo.
Before the Brazilian winter ends, I intend to write a couple posts about my observations and experiences here. The first will give some timely updates on the state of Brazil’s economy, with a focus on what I have noticed in person. In a later post or multiple posts, I shall address Brazilian culture, the Portuguese language, and some overall takeaways from my time in Sampa. All questions and comments are welcome.
São Paulo (SP) is unquestionably booming. Lots of construction–particularly of high-rises and large shopping malls–and a flourishing nightlife indicate the city’s increasing wealth. SP is a car-centric city; even the poorest households in the C segment favelas will have a car. Every gas station provides ethanol. As in the U.S., credit cards are accepted at almost every place where you could conceivably spend money, except at some cheaper restaurants. Unlike the U.S., nearly every card transaction is conducted with a portable point-of-sale, separate from a computer or centralized system, which frequently makes the transactions faster.
Furthermore, Brazil’s unemployment rate just went from 6.4% to 6.2%. Residents of SP work as hard and long as New Yorkers, and they have a strong sense of national pride and Brazil’s increasing importance in the world. (more…)