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Return to the entrepreneurial state

Wilton Junior/Estadão Contents:

It was in early 1918 that American businessman Percival Farquhar personally met with Vladimir Lenin to discuss his investment in railroads in Russia. The result was an even momentary success on the part of common sense. Through the NEP, the New Economic Policy, Lenin agreed to preserve the businessman’s property, helping the image of the new Soviet regime in the world.

Two decades later, Farquhar was not so lucky when he met another dictator, Getulio Vargas. In previous decades, Percival had become Brazil’s largest private investor, investing in railways, energy, hotels and steel. Vargas, however, did not like Farquhar’s plans to export iron ore, which is why he nationalized his Itabira Iron Ore company. From this process was born the Companhia Vale do Rio Doce.

It had a similar story…

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