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:
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)