After experimenting with a right-wing populist, Brazil has returned an old leftist to power. But economic and political reality in South America’s biggest country will curtail any old left policymaking.
Latin America’s new wave of leftist leaders were on Monday among the first to congratulate Brazil’s Luiz Inacio “Lula” da Silva for his wafer-thin victory over encumbent Jair Bolsonaro in Sunday’s presidential run-off.
Buoyed by another surge in the so-called “pink tide” that’s swept the region in recent years, the presidents of Chile, Mexico, Argentina and Peru will see Lula’s hard-fought win as another blow against the rise of far-right populism across the Americas.
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Mark Mulligan is the world editor and a former markets and economics writer. He was a Financial Times correspondent. Connect with Mark on Twitter. Email Mark at mark.mulligan@afr.com.au
