A remarkable return to the presidency for Brazil's Luiz Inácio Lula da Silva heralds a new 'pink tide' in Latin America.
A remarkable return to the presidency for Brazil's Luiz Inácio Lula da Silva heralds a new "pink tide" in Latin America.
Political analysts said Lula's victory marked the most symbolic shift in a political movement that has seen the region's right-wing governments replaced by leftist leaders.A remarkable return to the presidency for Brazil's Luiz Inácio Lula da Silva heralds a new so-called "pink tide" in Latin America, but political analysts say the latest leftist resurgence is very different from the one that swept into power in the 1990s.
The dominant trend bringing this 'pink tide 2.0' into office is not ideology but anti-incumbency — a natural outcome of a decade of economic stagnation turbocharged by the pandemic.Left-of-center candidates have won elections in Mexico, Argentina, Bolivia, Peru and Honduras in recent years, while leftist leader Gabriel Boric secured a historic victory in Chile last year, and Gustavo Petro became Colombia's first leftist leader in June.
"Lula is a bridge between both periods," Abramovay said. "He was the prominent leader from the previous tide but has adjourned his speech to those new answers, and now it's in his hands to amplify them globally." Supporters of Brazilian President Jair Bolsonaro take part in a protest to ask for federal intervention outside the Army headquarters in Brasilia, on November 2, 2022."The dominant trend bringing this 'pink tide 2.0' into office is not ideology but anti-incumbency — a natural outcome of a decade of economic stagnation turbocharged by the pandemic," Mariano Machado, principal Latin America analyst at political risk firm Verisk Maplecroft, told CNBC via email.
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