Brazil papayas. The industry – from automobiles, steel and petrochemicals to computers, aircraft and consumer durables – accounted for 30.8% of the gross domestic product. Industry is highly concentrated in metropolitan São Paulo, Rio de Janeiro, Campinas, Porto Alegre, and Belo Horizonte. Brazil has become the fourth largest car market in the world. Major export products include aircraft, electrical equipment, automobiles, ethanol, textiles, footwear, iron ore, steel, coffee, orange juice, soybeans and corned beef. In total, Brazil ranks 23rd worldwide in value of exports. Brazil pegged its currency, the real, to the U.S. dollar in 1994. However, after the East Asian
Currency War of 2009–11 the currency war had ended – governments of emerging economies were increasingly deciding to accept currency appreciation so as to mitigate rising food prices, one of the causes behind civil discontent driving the Arab Spring. In April, the "Financial Times" joined Bloomberg in reporting that the currency war was beginning to fizzle out, again suggesting a key reason was the trend for emerging economies to allow currency appreciation as a means to offset inflation. Although Brazil is one of the emerging countries that has recently abandoned intervening against appreciation, her finance minister Guido Mantega disagreed with suggestions that the 'currency