From 2003-2010, Lula oversaw a historic transformation of the country, lifting tens of millions of people out of poverty and putting Brazil on the map as an emerging leader of the new Global South. Small wonder that he left office with an approval rating of 80%. US President Barack Obama once called him “the most popular politician on earth.”
In the 2000s, Lula was blessed with a massive commodity boom, as a roaring Chinese economy gobbled up Brazil’s main exports of soybeans, iron ore, and oil. Historically low interest rates in the US, meanwhile, meant that investors were pouring money into fast-growing markets like Brazil. With annual growth figures averaging around 6%, low levels of inflation, and the government awash in cash, o Brasil ‘tava bombando, as they used to say – “Brazil was booming.”
In both 2002 and 2006, Lula won the presidency by margins of more than 12 points, while his Workers’ Party had a firm grip on Congress.
The new middle class that emerged during Lula’s first term is now better informed and much more difficult to satisfy. In 2023 his honeymoon period could be shorter.
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https://www.gzeromedia.com/lula-and-the-new-brazil-big-plans-short-honeymoon