-----Mensagem original-----
True, personal living standards don't drop by the same extent, though the impact on different classes would vary, depending on the degree to which the country is self-provisioning for basic consumption items. But to the extent that world trade is denominated in dollars -- and that's true of a lot of resources, goods (incl technology), and services -- then Brazil's command of the same dropped by that extent. It's not simply a question of degree of exposure to trade. Even at limited exposure, there's the need for petroleum, technology, raw materials, intellectual and other resources, etc. This diminished command impacts on future growth potential.
kj khoo
-You´re right, however, we can´t forget that countries with less exposure to external trade are also less dependent on foreigners to obtain these goods you´re mentioning. We also must consider that sometimes the currency devaluation stimulates economic growth by correcting imbalances in current account. So you have a period of crisis followed by a sharp recovery, even if nominal GDP falls.
Alexandre
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