Yet while companies like Embraer are doing well, many other Brazilian businesses are struggling.
The company also said it would sell its money-losing Brazilian business.
'They recognise that all these problems will become a drag on the development of Brazilian business,' Davies says.
Brazilian business is aware of its reputation for destroying rainforests and for social injustice.
Another side benefit of a thriving equity market has been access to equity financing for the international expansion of Brazilian business.
Net income rose 41 percent in the third quarter, but some of this came from selling off its Brazilian retail business earlier this year.
So it should be no surprise that Brazilian business is suddenly looking east.
Brazilian business can only hope so.
Brazilian businesses may pay three times the world price for these inferior goods, slowing domestic productivity growth and reducing their own ability to export.
In that Brazilian business two of the most famous men of modern history acted flat against their characters.
