Lula Should Look to the Future, Not the Past
By focusing on interest rates and reindustrialization, Brazil’s president is missing out on the real opportunities facing his government.
SÃO PAULO – Throughout his nearly 100 days back in office, President Luiz Inácio Lula da Silva and members of his government have focused above all on two economic messages. First, that Brazil needs to “reindustrialize.” Second, that the country’s interest rates are too high. But in doing so, Lula may be focusing too much on the past, and missing the opportunities that the country could seize today. There’s no doubt that Brazil’s economy needs a boost. The COVID-19 pandemic impacted all countries globally, but emerging economies have been hit particularly hard. Brazil,...
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