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In the early 2000s, Brazil was heralded alongside Russia, India and China as one of the ‘big four’ developing economies poised for major growth. A huge land mass, large population and a strategic location in Latin America positioned the country well for economic and social progress. With a peak GDP growth of 4.5% from 2006 to 2010, between 2003 and 2014 more than 29 million people escaped poverty. But after a major recession between 2014 and 2016, economic recovery continues to be sluggish. Despite the downturn, Brazil remains the largest economy in Latin America and the eight largest in the world. Claudia Thyme, Emerging Markets Development Director at AXA XL, outlines some of the challenges, opportunities and what this may all mean for companies operating in Brazil.