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‘We are liberals, but we are not fools,’ says Brazil’s Minister Guedes on economic openness

RIO DE JANEIRO, BRAZIL - Economy Minister Paulo Guedes said on Thursday, May 27, that the reindustrialization of Brazil is one of the government's goals. According to Guedes, the pace of economic opening needs to respect the "heritage" of the national industrial park. "We are liberals, but we are not fools," he said at an event held by the Industry Coalition.

Guedes said he has watched with "great sadness" the decline in industry's share of the Brazilian Gross Domestic Product (GDP) in recent decades. "The way for industry to survive was to find protection in Brasilia and share the . . .

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