German business unfazed by Brazil’s new President Jair Bolsonaro

Jo Lloyd
November 4, 2018

Bolsonaro has vowed to turn up pressure on Venezuela's authoritarian leftist government to hold free elections that could stem the flow of refugees into neighboring Brazil and Colombia, also governed by a conservative president.

Brazilian President-elect Jair Bolsonaro plans to create a "super ministry" of economy when he takes office in January, his economic adviser has said.

"The exact details of how his administration plans to achieve (its) objectives are limited", wrote Fitch analysts led by Shelly Shetty.

Bolsonaro - whose previously minor Social Liberal Party will be the second-largest force in the lower house - meanwhile faces the hard job of piecing together a coalition from among some 30 parties.

"To increase deforestation and greenhouse gas emissions is to leave each and every one of us more vulnerable to an increasing risk of climate extremes", said Carlos Rittl, executive secretary of the Brazilian Climate Observatory.

Brazil's democratic institutions have proven stable, many said, downplaying Mr. Bolsonaro's ability to undermine these institutions.

Leaving the agreement would trigger widespread global condemnation and could also have financial consequences, including lost foreign investment and the blocking of a trade agreement Brazil is negotiating with the European Union.

"The future president must respect institutions, must respect democracy, the rule of law, the judiciary branch, the national Congress and the legislative branch", Toffoli said in remarks many took to be a rebuke of Bolsonaro.

The PT still has a solid base of about 30% of the electorate - but will need more than that to mount a forceful opposition to Bolsonaro. During the campaign, he complained that "the Chinese are not buying in Brazil".

In a separate interview with Reuters, he said the president-elect would meet with Guedes and other members of his team on Tuesday.

Mauricio Santoro, a political scientist with Rio de Janeiro State University, said he was concerned that Brazil would not soon dispel the tense and occasionally violent atmosphere that enveloped the polarizing campaign.

But Tang also warned that China could retaliate if the rhetoric is not softened.

"The problem with this (employment) upturn is that it mostly corresponds to undeclared jobs or the self-employed", said Cimar Azeredo of the Brazilian Institute of Geography and Statistics. Current President Michel Temer has already largely broken off relations with Venezuela, where millions have fled economic and political collapse in recent years.

Foreign policy, trade, maintaining the order: the neighbors of Latin-american of Brazil are preparing for the impending arrival of Jair Bolsonaro, the first president of the far-right has promised to make a drastic shift to the major power of the region.

In the run-up to the election, Bolsonaro, whose first foreign visits would be to Chile, Israel and the USA - that according to him "share our worldview" - has said: "The future ministry will come from the productive sector".

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