BRAZIL'S NEW DAY FEELSOLD

摘要

Brazilian presi-dent-elect Dikna Rous-seff is starting off bold. Her initial agenda includes eradicating absolute poverty, trimming the budget, and safeguarding freedom of the press. Even the political opposition nodded in agreement. But everyone also took note of what Rousseff said she wouldn't do: tackle social-security reform.That's shocking, since Brazil's social-welfare system is among the most distorted on record. Though it has one of the world's youngest populations, it shells out the same share of its GDP (11 percent) as the grayest nations of Europe. Worse, Brazil is aging faster than the rich countries ever did-twiceas fast as Europe in the last century.