It Is Brazil's Bloated Financial Sector, not Its Growth, that Attracts Immigrants

The Post ran a piece on the growing number of foreigners who are going to work in Brazil, especially in its finacial sector. It attributed this in part to Brazil's rapid growth, which reports as averaging 4.5 percent since 2004.

According to the IMF, Brazil's growth has averaged 4.1 percent over this period. That is not especially fast for a developing country. Chile averaged an almost identical 4.0 percent over this period while Venezuela grew at a 4.5 percent rate and Argentina grew at a...