Economy
CDE was, according to Forbes, the third commercial city in the world between 1990 and 2002. The city is the headquarters of the company that operates the nearby Itaipu Dam. The city's economy (and Paraguay's economy as well) relies heavily on the mood of the Brazilian economy, as 95% of Paraguay's share of the energy generated by the Itaipu Dam is sold to Brazil (for US$300 million), and that every day many Brazilians cross the border to buy less expensive products (US$1.2 billion, mostly electronics). Smuggling is a major occupation in the city, with some estimates putting the value of this black market at five times the national economy. Although some people and countries state that there are terrorist organizations in the area, no evidence of this has been found.
Read more about this topic: Ciudad Del Este
Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)