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OPINION: Andres Oppenheimer
It was bound to happen.
Some fickle foreign investors have demoted Brasil...from the top emerging markets.
They argue that the "B" in BRIC...should be dropped...as Brasil's GDP faltered last year with a miserly 2.7%...with a mere 3% projected for 2012.
Peru's former leader Alan Garcia even called Brasil..'a fatigued giant.'
Don't cry for Brasil!
It had a good decade long run.
But now investors don't like its long overpriced currency...and over dependence on selling commodities to China.
The uber avaricious 'market' is now hyping...Colombia, Peru and even Mexico.
Colombia caught the market's distracted attention after Carlos Slim...the world's richest man...invested heavily there...and because of its many new oil and gold finds.
Mexico has plodded along...despite narco violence.
But...Brasil is not yet down and out.