I saw your post earlier in the thread about it. I knew they were high but didn't realize they could be that high. My n is quite small though so perhaps I just hang around people who know better :-).
If I were more comfortable/knoweldgeable a few years back I could have taken advantage of the Real-dollar exchange and the Brazil bull market. Not that I was ever real close but I was warned about corruption/scams its hard enough in the US I didn't feel comfortable with the risks and my lack of experience in investing in Brasil.
"I never hear of people borrowing to buy large things like a car/property." That may be an attitude developed in the days before Cardoso. In the early 90's when I was there as you could afford bricks you bought them. I worked offshore and any money you had in your wallet had halved in value by the time you returned to shore 28 days later. A couple of times they changed the currency and started again:-)
I'm not sure anyone has been watching the Pharma industry in Brasil as of late but the government basically declared 15 biotech drugs free play and they will be made and sold to the government health system by local manufacturers.
The government is funding much of the research involved.
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