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
Reserve currency and long-term international objectives when a national currency also serves as a world reserve currency. The IMF regularly publishes the aggregated "Currency Composition of Foreign Exchange Reserves" (COFER). The reserves of the individual reporting countries and institutions are confidential. Thus the following table is a limited view about the global currency reserves that only deals with allocated reserves: Economists debate whether a single reserve currency will always dominate the global economy. Many have recently argued that one currency will almost always dominate due to network externalities (sometimes called "the network effect"), especially in the field of invoicing trade and denominating