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theguardian - Brazil has had enough of broken promises

  • Foto do escritor: Intercâmbio Piracicaba Sandra
    Intercâmbio Piracicaba Sandra
  • 22 de mar. de 2015
  • 5 min de leitura

Fernando Meirelles.png

Brazil, a historically unequal country, has been slowly reducing the gulf between rich and poor. Luiz Inacio Lula da Silva’s election in 2002 led many to believe that this gap would narrow radically. That year, China’s growth led to an increase in commodity prices that lasted until the crisis in 2008. Brazil found itself with a surplus that allowed the new administration to do something never seen in the country before – cater to both the financial markets that attract foreign capital, and help the poorer sections of society with income distribution programmes and cheap credit. The country went through a euphoric consumerist upheaval. Salaries increased, jobs were abundant, living standards rose. Economic activity was booming and there seemed to be no going back – we had become part of a virtuous circle. It was the first time in 50 years that I read only good news when I opened the papers in the morning.


 
 
 

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