Word: brazil
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...notion that he's had to move Blair-ward to make himself electable. But even though Lula's high school education doesn't match the Ph.D. milieu of Cardoso and the ruling party's smug technocrats, he seems to be aware enough of one of the root causes of Brazil's (and Latin America's) new economic crisis. The free-market reforms relied too addictively on foreign capital, which in turn kept local interest rates inordinately high - and eventually snuffed out the very economic growth that the capitalist sales pitch had so loudly promised, not to mention saddling Brazil with...
...fact, now governs five of Brazil's states, as well as its largest city, S?o Paulo, which is Lula's home base - where the federal government's industrial privatization project has sent propane gas prices soaring, leaving many urban families cooking with wood. But can Lula manage Latin America's largest economy (and the world's ninth largest)? Though Wall Street's favorite sport right now is demonizing Lula - and his platform is, indeed, full of expensive, perhaps fiscally risky social programs - he insists that he's not out to wipe away the free-market reforms and fiscal discipline that...
...Instead, in a nation rife with corruption, Lula is known for his probity: The main reason he's ahead in the polls is his pledge to add a sorely lacking social-justice component to the capitalist project. He'd start, he says, with a crackdown on Brazil's epic tradition of tax evasion - especially among the nation's venal elite - a reform that Lula argues also makes good business sense. Brazil suffers from the worst concentration of wealth and governmental power on a continent whose economic and political inequality is rated the world's worst. "Every Real (Brazil's currency...
...empire." In the interview, the PT candidate made it clear that, if he's elected, George W. Bush may have to wait beyond the current 2005 deadline to achieve a hemisphere-wide free-trade pact - especially since, as he notes, Bush preaches free trade to Brazil yet still maintains high tariffs against Brazil's most competitive products, steel and frozen orange juice. Which means the only choice Washington seems to have in Brazil is to be as patient as Lula has been...
...closest challenger, Jos? Serra of the ruling Social Democratic Party, suggests that Lula may already have amassed enough support to win the presidency in the first round of balloting on October 6. And the prospect of his victory has the international community paying more attention than ever to Brazil's fourth election since the country's returned from military dictatorship to democracy...