Attention Shoppers: Walmart is Going Big in Brazil

While the US is bracing itself for a potential recession, business is booming south of the equator.  In recognition of Brazil's strong economy, which is currently poised for growth with record low interest rates, Walmart has announced plans to invest nearly US$700 million to expand its presence in Brazil.

Walmart, the largest retailer in the world, plans to open 36 news stores in Brazil this year (up from 20 in 2007), in an effort to take advantage of Brazil's rapidly expanding market. The company will go head to head with another international giant, Carrefour, for the leading stake.

For those who prefer to shop locally, check out our recommendations for Shopping in Rio.

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