The government of President Dilma Rousseff has announced additional cost-cutting measures and new taxes. The announcement comes after a major rating agency lowered Brazil’s credit rating. However, the cuts and taxes face opposition in Congress.
The Southeast Asian nation hopes to add higher-value industries to its economy. The country could become a bigger part of the factory supply chain, making headlights for cars, for example. One economist says Vietnamese private business needs more access to land and finance.