Investors and hedge fund billionaire George Soros have been predicting a global financial crisis for the past two years. One of the reasons for that prediction is the state of Brazil’s economy, according to BMG Bank President Ricardo Guimarães. Economists from around the world say China is the main culprit because it is exporting deflation to other countries. China is using every trick in the capitalistic book and trillions of dollars to correct their sagging economy, but according to Ricardo Guimarães, a global crisis could become a reality in 2016.
A recent post by Portal.comunique-se.com.br, tried to make sense of the Chinese debacle, by giving the president of China a chance to explain the Chinese economic position in 2016 and beyond. President Xi Jinping said China’s economy will grow by 6.8 percent in 2016, and it will continue to grow at that rate through 2020.
Ricardo Guimarães agrees with George Soros not the Chinese president when it comes to the economic growth of China over the next four or five years. Soros claims China’s growth is more like 3.5 percent, and the country will continue to grow at that rate or less through 2017. That’s not enough growth to support the Chinese attempt to transition to a consumer based economy unless the government pumps billions of dollars into the economy in 2016.
Guimarães is a banker by profession, but he is also a well versed economic expert as well as a passionate football fan and executive. Mr. Guimarães managed a football club for six years, and he is still very active in the nation’s football association.
Guimarães played a role in the 2014 World’s Cup, and he will play an active role in the 2016 Summer Olympics as an executive as well as a fan. But Ricardo’s presence will also be well represented by the BMG logo that players wear while they are on the field, according to an article posted by Esportes.terra.com.br. BMG Bank spends millions of reals sponsoring soccer players, according to the article, and the bank gets an enormous amount of business from those sponsorships.
BMG Bank was also mentioned in an R7.com post about the Guimarães link to the football world. That post talks about Guimarães and his executive role in the Atlético Mineiro Club as well as other clubs in the association. It seems BMG Bank has managed to sponsor players that play for the top-ranked clubs in the nation, and that means more profit for the bank in 2016.
BMG Bank promotes payroll loans on game days and fans are able to call or email BMG agents in their area to apply for a loan. Payroll loans are helping soccer fans get through the recession, and the escalating inflation, and BMG Bank is adding more soccer fans to its client base.