South America Votes Right While Leaning Left
They elected a string of conservative leaders, but citizens still demand protectionist policies and government services.
A billboard for presidential candidate Jair Bolsonaro in Garanhuns, Pernambuco state, Brazil, on May 5, 2018.
Photographer: Eraldo Peres/AP Photo
With the swearing-in of Jair Bolsonaro as Brazil’s president on New Year’s Day, right-leaning, market-friendly leaders will govern much of South America—in total, 85 percent of the continent’s 415 million citizens. Many of those people, however, still need a little convincing that right-leaning, market-friendly governments are the way to go.
Notionally at least, the rightward pivot among leaders means that for the first time in decades, most of South America’s collective $3.2 trillion economy is aligned with U.S. commercial and diplomatic interests. That could free billions in investment, merger activity, and trade partnerships. The challenge for those in power is reversing protectionist policies that rely heavily on government subsidies to support ailing industries, coupled with a continental workforce that’s fallen behind global standards.