Posted AT 9:00 AM EST on 16/11/08
Brazil's middle-class dreams on hold
RIO DE JANEIRO — With big drops in auto sales, worker layoffs and scarce credit, signs are growing that the financial crisis is hurting Brazil's middle class, whose ascent in recent years symbolized the economy's boom.
From forests of new condominium towers on the beach-side outskirts of Rio de Janeiro to monstrous traffic jams in the financial capital of Sao Paulo, credit-fuelled buying power has transformed Latin America's biggest economy.
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