Andrew Downie The New York Times Media Group
International Herald Tribune
05-14-2008
Brazilians revel in newfound prosperity
Byline: Andrew Downie The New York Times Media Group
Edition: 1
Section: FINANCE/BUSINESS

SO PAULO --

While consumers in many parts of the world are tightening their belts, Brazilians are spending as though there is no word in Portuguese for recession.

Middle-class Americans and Europeans are surrounded by a rising tide of economic worries; Brazil's middle class is growing.
Even some creditworthy Americans cannot find a mortgage; Brazilians are taking out loans as never before.

"It used to be that when the U.S. sneezes, Brazil catches pneumonia, but that is no longer ...