Brazil Elects 'Proud Homophobe' Jair Bolsonaro As President

Cesar Mills
November 3, 2018

Is there a human behind the mask?

In a sign of how tense the race got, Haddad did not congratulate Bolsonaro and only on Monday morning did he wish him luck.

The news of Mr. Bolsonaro's victory was fiercely celebrated in the streets and by Brazil's financial markets.

When Brazil's military dictatorship ended in 1985, the balance of power tipped toward leaders of centrist and leftist leanings. "The party has the backing of organized labour and social movements, but Lula has the support of the mass of society, the poorest people in Brazil", said Ricardo Musse, a sociologist at the University of Sao Paulo.

Mr. Bolsonaro brings to high office the promise to reduce regulation and tax and boost investor confidence, and also the threat to more extensively exploit Brazil's vast natural resources, including the Amazon rainforest; he has proposed to build a highway through it. "If nearly 60 percent of Brazilians choose a candidate, then you have to respect this decision", said Mercedes-Benz Brazil President Philipp Schiemer.

Bolsonaro was referring to the hundreds of millions of reais the Brazilian government spends in advertising each year in local media outlets, mainly for promotions of state-run firms.

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Bolsonaro supporters carried out physical attacks and organized campaigns of online harassment in the run-up to Sunday's vote, targeting journalists in particular, according to a tally kept by Abraji, an investigative journalism group. Twitter users revolted, criticizing the lender for meddling in local politics, especially in favor of candidates wanting a military government. On other issues, Guedes made clear he was the final word on economic matters, laying out plans to give the central bank more institutional independence and clarifying comments made by Lorenzoni about exchange-rate policy.

As with the election of The Donald, many executives are saying Mr. Bolsonaro deserves a chance.

The 63-year-old far-right leader, who previously suggested that Brazil could pull out of the 2015 Paris Agreement on climate change, plans to merge ministries agriculture and environment, an aide said.

The Globo newspaper, in a separate article citing unnamed sources close to the judge, reported on Tuesday that Moro was weighing Bolsonaro's offer, feeling that he could reassure citizens concerned the president-elect will not govern democratically.

Investors, German or otherwise, now prefer Asia.

"Brazil is increasingly less suitable as an export platform because industry is no longer competitive", said Mr. Anders of Bosch.

Other reports by GizPress

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