*By Carlo Versano* He's known as the "Trump of the Tropics." Brazil's new president, Jair Bolsonaro, may grab headlines for his far-right, populist rhetoric and positions ー he's staunchly anti-gay, anti-abortion, anti-affirmative action, and anti-drug decriminalization ーbut he differs from President Trump in one major respect, which is currently on display at the World Economic Forum in Davos, Switzerland. Bolsonaro wants to form closer economic ties with the developed world, as he made clear in a speech to the global elite gathered in the snowy Swiss enclave. “We represent a turning point in the eyes of the Brazilian people — a turning point in which ideological bias will no longer take place,” he told attendees on Tuesday. Vanessa Neumann, the founder of the risk consultancy firm Asymmetrica and author of the book "Blood Profits," told Cheddar that Bolsonaro is at Davos in an attempt to shed his global image as a populist bomb thrower by making clear that the Brazilian economy, the world's ninth largest, is open for business and investment from the outside world. "He's talking that talk to investors," Neumann said. Bolsonaro is "the unintended winner" in the ongoing U.S.-China trade war, she noted, as Brazil is a major producer of consumer staples that range from soybeans to beef to oil ー commodities that the Chinese are now importing from Latin America rather than the U.S. But Bolsonaro is also cognizant that he needs to forge an alliance with the White House. "He wants to increase trade with the U.S.," Neumann said. Luckily for him, Trump sees in Bolsonaro a kindred spirit, evidenced by his New Year's Day tweet as Bolsonaro took office: "Congratulations to President @JairBolsonaro who just made a great inauguration speech — the U.S.A. is with you!” Meanwhile, conservationists and climate change activists worry that part of that openness will come at the expense of Brazil's vast natural beauty ー particularly its protected rainforests. On his first day in office, Bolsonaro transferred rainforest protections to a ministry that is heavily influenced by the agribusiness lobby. He pulled out of hosting a UN climate change conference and is expected by some to follow the U.S. by canceling Brazil's participation in the Paris climate accord, though he has not done so yet. Bolsonaro's appearance at Davos suggests he is focused on re-engaging with the world economically, even if his domestic policies are far less liberal. Neumann noted a famous saying about Brazil: It's a country of the future ... and it always will be. For full interview [click here](https://cheddar.com/videos/far-right-brazilian-president-speaks-of-new-brazil-in-davos).

Share:
More In Politics
What’s in the legislation to end the federal government shutdown
A legislative package to end the government shutdown appears on track. A handful of Senate Democrats joined with Republicans to advance the bill after what's become a deepening disruption of federal programs and services. But hurdles remain. Senators are hopeful they can pass the package as soon as Monday and send it to the House. What’s in and out of the bipartisan deal has drawn criticism and leaves few senators fully satisfied. The legislation includes funding for SNAP food aid and other programs while ensuring backpay for furloughed federal workers. But it fails to fund expiring health care subsidies Democrats have been fighting for, pushing that debate off for a vote next month.
Federal Reserve cuts key rate as shutdown clouds economic outlook
The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated. The move comes amid a fraught time for the central bank, with hiring sluggish and yet inflation stuck above the Fed’s 2% target. Compounding its challenges, the central bank is navigating without much of the economic data it typically relies on from the government. The Fed has signaled it may reduce its key rate again in December but the data drought raises the uncertainty around its next moves. Fed Chair Jerome Powell told reporters that there were “strongly differing views” at the central bank's policy meeting about to proceed going forward.
Load More