Cheaper Currency No Panacea for Crippled Brazilian Exporters

To hear Brazil's government tell it, businesses like Jamo Equipamentos should be booming. With Brazil locked in its worst recession in three decades, the maker of heating equipment, like other exporters, should at least be enjoying a newfound competitive advantage: the plunge in the currency, which has lost a third of its value against the dollar this year. A weaker Brazilian real makes Jamo's products cheaper in China, India and other foreign markets. Brazil's government...

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