Read the text below entitled “Beyond Lula” in order to answer question:
Source: Newsweek (Adapted) Oct 11th, 2010
With the economy booming, poverty falling, and an avid new middle class hitting the supermarkets and malls, Brazil is in a sweet spot. Once a pushover for ﬁnancial turmoil, Brazil survived the Great Recession largely unscathed and grew at the blistering pace of 10 percent in the ﬁ rst six months of 2010 (though it may cool to 6 or 7 percent by year´s end). With new offshore discoveries boosting its estimated oil reserves to at least 9 billion barrels –and possibly much more- the national oil giant, Petrobras, raised $67billion in late September, the biggest public-share offering in global ﬁnancial history. Ofﬁcials are gussying up the country for the 2014 World Cup and the 2016 Olympic Games, and arguing over what to do with all the cash and glory that such international showcases bring.
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