Brazil's Oldest Trading State Renews Its Mission

By McCrary, Ernest S. | Global Finance, November 1997 | Go to article overview
Save to active project

Brazil's Oldest Trading State Renews Its Mission


McCrary, Ernest S., Global Finance


Pernambuco, the heart of the easternmost bulge of the

South American continent into the Atlantic, is a state that

thrived on international commerce for 300 years after

it was first settled by the Portuguese in the 1520s.

As the vibrant center of the New World's production of sugar and eventually cotton, Pernambuco and its key port and capital city of Recife played a vital and colorful role in Brazil's early economic development. Portuguese and Brazilian forces, for example, resisted Dutch invaders who seized control of Pernambuco and its lucrative sugar trade from 1630 to 1654. Had they failed to expel the Dutch, Pernambuco and the northeastern region of Brazilperhaps even the entire country-might have been swept into the Dutch colonial empire, which lasted well into the 20th century.

The shifting of Brazil's industrial base to the south in more modern times has left Pernambuco-and most of its neighbor states in the Northeast-in the backwaters of the country's dramatic growth over the past 30-40 years.

Today, Pernambuco has embarked on an ambitious development program designed to recover lost ground, close the economic gap with the rest of industrialized Brazil, and place the state at the forefront of Brazil's burgeoning involvement in global trade and direct investment.

"We have a geographically strategic position," says Joao Recena, Pernambuco's secretary of planning. "The shipping routes of Europe, North America, and Africa converge on Recife. This was Brazil's first important port, and we're going to make this a key center of international commerce again."

To do that, the government is investing heavily in a new deep-water port at Suape, 30 miles south of the aging and congested docks at Recife. "Suape has a spectacular location," says Luiz de Morais Guerra Filho, president of the state-owned Suape Industrial Port Complex. "We're 3,600 miles from New York, 4,300 miles from Rotterdam and Cape Town, and 2,200 miles from Buenos Aires and the Mercosul market.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited article

Brazil's Oldest Trading State Renews Its Mission
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?