China, India, and Brazil are countries that have been considered "potential" since I was little and despite the progress made by these three countries, only China has really stood out. Besides, South Korea surprised the world with its sudden economic development. Brazil, on the other hand, seems to be taking backwards steps. Despite a fairly large and relatively cheap labor force (212.6 million people) Brazilian industry is not very promising. In 2021, Ford announced the closure of its manufacturing, leaving nearly 5,000 workers unemployed. According to Rochabrun (2021), the company was losing about $2,000 for every car sold in Brazil.

Why do you think Ford chose to shut down and lose billions of dollars instead of maintaining operations? What can Brazil do to improve its economy and attract foreign investors?

Please add reference.

Thank you