Brazil's President Lula stated that Brazil will only be an observer and not a full member of OPEC+. Lula has attempted to balance the interests of agribusiness elites and rural workers, but tensions are rising. The country's energy trade volume surplus reached a new high, helping ease the current account deficit. Historic weather in Brazil's top soy state is putting pressure on the crop, and rising agricultural productivity is contributing to a structural shift in Brazil's current account into surplus.
This is the anatomy of Brazil's structural shift in its current account into surplus. A lot of the trade surplus (red) gets "lost" to foreign owners of agriculture (orange) in terms of dividends and interest payments. But rising agricultural productivity is overwhelming that... https://t.co/CnQgWp460Q
Historic weather in Brazil’s top soy state keeps pressure on crop https://t.co/xCnvL2viiB https://t.co/nsWdCbE47c
In Brazil, Lula has wagered that concessions to agribusiness elites are necessary to advance his redistributive project. Yet it is these agribusiness interests that may emerge as the forces most likely to undo his efforts. https://t.co/B3Sid0xLmF
Brazilian president Luiz Inácio Lula da Silva has struggled to manage two utterly contradictory interests: agribusiness and the Landless Workers Movement. The tensions could tear his redistributive project apart. https://t.co/B3Sid0yjcd
Brazil has become a key player in the global energy market, as reflected by recent talks to join OPEC. The country's energy trade volume surplus reached a new high in Oct, topping the end-2020 peak. The sector will help ease the current account deficit to about 1% of GDP in 2023. https://t.co/7yxUN6OWQr
“We’re not against someone working delivering food on a bike,” Brazil’s President Lula said. “What we���re against is them not being respected as workers. We’re against them not having rights.” Controversial new rules aim to protect gig workers https://t.co/otUmwLwqKw
In Brazil, Lula has tried to improve the lot of rural workers without completely alienating the country’s agribusiness titans. This delicate balance may be falling apart. https://t.co/B3Sid0xLmF
In Brazil, Lula has wagered that concessions to agribusiness elites are necessary to advance his redistributive project. Yet it is these agribusiness interests that may emerge as the forces most likely to undo his efforts. https://t.co/B3Sid0xLmF
Lula says Brazil never to be full member of OPEC+, only observer https://t.co/pu4w3gbwPm https://t.co/S5fZFmvovp