Resisting neo-liberalism

July 22nd, 2002 – 8:22 pm
Tagged as: Uncategorized

“Rio de Janeiro. A crisis is brewing in Brazil as Luis Inacio da Silva, the left-leaning candidate of the Workers Party, has opened up a wide lead in the upcoming October presidential elections. A victory by da Silva, commonly known as “Lula,” would be a political jolt for South America. Brazil is the largest country with the biggest economy in Latin America. It lies between two tumultuous nations-Argentina which is experiencing an economic implosion, and Venezuela, where rightist and traditional political parties backed by the United States recently tried to overthrow President Hugo Chavez. Moreover, da Silva’s opposition to the U.S.-backed Free Trade Area of the Americas and his independence on foreign policy issues like Cuba mark him as an adversary of the Bush administration.”

The current center-right President of Brazil can’t run again, and apparently his coalition can’t find any other candidate to stand against de Silva who isn’t tainted by corruption. Some major American investment banks find the idea of de Silva as President so disturbing that they downgraded their ratings of Brazil back in May, which caused an economic crisis. The reaction of the Brazilian people? “‘These banks have led the neo-liberal sacking of our country and now they are trying to scare people into perpetuating a political order that serves only their narrow interests,’ fumed Reinaldo Gonzalvez of the Economic Institute of the Federal University of Rio de Janeiro.”

Read the article here.

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