FedEx Newsroom

FedEx Newsroom

FEDEX CHIEF ECONOMIST ANALYZES BRAZIL’S ECONOMY AND SAYS COUNTRY IS ON THE RIGHT TRACK

August 3, 2007

Gene Huang, Chief Economist for FedEx Express, the world’s largest express transport and global logistics solutions provider, announced yesterday during the Brazilian edition of the American Cities Conferences that the Brazilian economy is doing very well and that ideas such as PAC are on the right track to establishing better access for Brazil to the global economy.

According to Huang, Brazil has huge potential for growth. The abundance of natural resources, the climate, the young population and the diversity of Brazilian industries are some of the strategic factors Huang highlighted that most affect the country’s economy. However, Huang points out that it is still necessary to improve Brazil’s infrastructure and productivity, in addition to permanently stabilizing the country’s macroeconomic situation so as to attract more investors. “Brazil is achieving a reputation of reliability, but the country needs to pay attention to the negative aspects and use them as opportunities for growth,” he adds.

During the debate, Huang also presented his ideas on which areas the country should focus on in order to achieve greater access to the global economy. His recommendations were based on the study “The Power of Access” which was conducted by SRI International and commissioned by FedEx in 2006. Among them, Huang mentioned the importance of improving the country’s infrastructure, strengthening fiscal discipline, reducing bureaucracy, increasing investments in higher education and maintaining the independence of the Brazilian Central Bank.

This study analyzed 22 variables, including infrastructure, open trade, information and human capital for 75 countries throughout the world. On the overall ranking, Brazil is ranked number five in Latin America after Chile, Uruguay, Argentina and Mexico and number 47 out of 75 worldwide.

“This study is very important not only for FedEx, but for all companies and policy makers across the world. Before making a strategic investment decision, they can research the characteristics and growth potential of these countries,” explains Huang. The information contained in the study can be accessed through the FedEx Web site, www.fedex.com.

Gene Huang is responsible for global economic analyses that take into consideration the industries serviced by FedEx Express. He also serves on several economic analysis panels, such as the Blue Chip Consensus Panel and those of the Wall Street Journal and Business Week.

FedEx Express Latin America & Caribbean Division services more than 50 countries and territories throughout Latin America and the Caribbean and employs more than 3,400 people committed to total customer satisfaction each business day.

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