There’s a governance deficit, apart from the twin deficit problem

“Chicken flight’ or voo de galinha is the latest term used to describe the experience of certain emerging economies — a brief, unsustainable growth spurt, followed by a rapid return to earth. It has been used in the context of Brazil, whose growth fell to 0.9 per cent in 2012, compared with the 7.5 per cent growth achieved in 2010.

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