Bolsonaro Loses

Earlier in the month I wrote about conservative Flavio Bolsonaro coming out ahead in a multicandidate race for Brazil's presidency, and facing a run-off against the socialist incumbent known as Lula.

As you may have read, earlier this week the run-off was held and Lula pulled off an upset victory. Whether he did so honestly is another issue, one about which I have questions but no knowledge.

This outcome runs counter to the movement to elect conservative national leaders that has swept Latin America. Expect Lula's Brazil to cozy up to China, Russia, India, etc. in the BRICS meetings.

How much the conservative leaders of Argentina, Chile, Peru, Colombia, Ecuador, etc. will be able to counter the region's largest nation and biggest regional market is unclear. Maybe not very much.