Bolsonaro's Economist
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 29 October 2018
⏱️ 17 minutes
🧾️ Download transcript
Summary
Brazil's new president Jair Bolsonaro says he doesn't know anything about the economy, so he's delegated economic reforms to a man called Paulo Guedes. Who is he? We ask the BBC's Daniel Gallas in Sao Paulo and speak to Gabriel Ulyssea, Brazilian economist and associate professor in development economics at Oxford University. And Chilean journalist Carola Fuentes tells us the story of the "Chicago Boys" - the free market economists who transformed Chile's economy under military dictatorship.
(Photo: Supporters of Jair Bolsonaro celebrate in Brasilia, Credit: Getty Images)
Transcript
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| 0:00.0 | Hello, this is Business Daily from the BBC. I'm Edwin Lane, and on today's program, Brazil has a new president, but what does he know about the economy? |
| 0:10.9 | Chad Wilson, I used to actually sort of brag that he doesn't understand too much about the economy, and that's almost seen as a strength of the fact that he's delegating all his powers. |
| 0:20.7 | And what lessons could Brazil's new leaders learn from an economic experiment? almost seen as a strength to the fact that he's delegating all his powers. |
| 0:25.9 | And what lessons could Brazil's new leaders learn from an economic experiment in Chile? |
| 0:33.2 | People were really suffering. We had people living in poverty without houses, without shoes. |
| 0:37.6 | And this was because all the national industry went to bankruptcy. |
| 0:40.0 | That's today's Business Daily from the BBC. |
| 0:53.1 | Supporters in Sao Paulo, celebrating the election of Jayaid Bolsonaro as Brazil's next president. |
| 0:56.0 | The far-right candidate had been seen as a fringe player in Brazilian politics. He's been accused of having authoritarian tendencies, criticized for his |
| 1:01.5 | comments on homosexuality, women, and his praise of military dictatorships. But despite that, |
| 1:06.8 | he won 55% of the vote. Here's one supporter on the streets of Sao Paulo earlier. |
| 1:13.6 | Now this country is going to move forward because of my captain, my president. |
| 1:18.4 | He is not homophobic. He is a man of God. He's a man of character. He is not corrupt. |
| 1:24.6 | He will fight for all Brazilians. Perhaps what's most surprising is the support |
| 1:32.3 | Bolsonaro's gain from the business community, both at home and on the financial markets. |
| 1:37.2 | Surprising because he freely admits he doesn't really know much about the economy. So I wanted to know |
| 1:42.3 | more about how this apparent Maverick had gained the support |
| 1:45.1 | of businesses. So I spoke to the BBC South America business correspondence, Daniel Gales. |
| 1:50.4 | He is definitely the candidate of the business community at this stage. |
| 1:55.3 | Bolsonaro, every time he had good polling numbers in this election, |
| 1:59.4 | Sao Paulo's Stock Exchange was soaring and going up, |
| 2:02.3 | and we had a pretty good run this month with the stock exchange, |
... |
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