What is absolutely fascinating is that if you dig a little deeper and look at the structural failures that are really holding back the Brazilian economy they are very (almost shockingly) similar to those that plague Russia: high taxes, insufficient investment, inefficient government spending, over-reliance on consumer spending, excessive government red-tape, unreliable courts, poor transport infrastructure, rent-seeking, persistent inflation, high interest rates, and (potential) de-industrialization.

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Backup and archiving remain the biggest applications for digital magnetic tape although it is also used as a physical data transport device (as the old saying goes, you can ship more data on tape in a delivery truck over a shorter time than you can send electronically).

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One way of injecting more dynamism into Central America's economies would be by improving transport links and cutting red tape.

ECONOMIST: Central America

Mr Nenshi ran on a centrist platform that included affordable housing and better public transport, but also promised to cut red tape for business.

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In February, Transport Secretary Philip Hammond wrote to all councils in England informing them that he was cutting Whitehall red tape by scrapping existing government road-closure guidance.

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