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:
“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)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)