IBOV 177,158.86 ▲ 1.88% IPSA 11,030.67 ▲ 0.87% IPC MEX 67,290.40 ▲ 1.22% MERVAL 3,304,918 ▲ 2.22% COLCAP 2,342.44 ▲ 1.64% BVL PERÚ 57,107.38 — — USD/BRL5.06▼ 1.10% USD/MXN17.34▼ 0.56% USD/CLP925.97▼ 0.82% USD/COP3,116▼ 2.96% USD/PEN3.38▼ 0.57% USD/ARS1,489▼ 0.47% USD/UYU40.22▲ 1.47% USD/PYG5,941▲ 0.68% USD/BOB11.80▲ 5.19% USD/DOP57.95▲ 0.09% USD/CRC449.30▲ 1.51% USD/GTQ7.63▲ 2.33% USD/HNL26.76▲ 0.31% USD/NIO36.62▼ 0.15% USD/VES743.77▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.39▲ 0.40% USD/TTD6.75▲ 1.19% EUR/BRL5.83▼ 0.33% BRENT 87.80 ▼ 3.24% WTI 82.15 ▼ 2.74% IRON ORE 161.91 — — COPPER 6.49 ▲ 3.44% GOLD 4,134 ▲ 2.46% SILVER 58.74 ▲ 1.51% SOY 1,194 ▲ 1.36% CORN 469.00 ▲ 4.45% WHEAT 657.75 ▼ 0.45% COFFEE 324.50 ▼ 0.40% SUGAR 14.44 ▼ 0.41% ORANGE JUICE 145.95 ▲ 5.80% COTTON 81.10 ▲ 3.95% COCOA 5,118 ▼ 1.29% BEEF 227.45 ▼ 0.20% CATTLE 342.60 ▼ 0.49% LITHIUM 69.81 ▲ 4.60% PETR4 42.84 ▲ 2.00% VALE3 76.09 ▲ 1.39% ITUB4 42.74 ▲ 2.20% BBDC4 18.39 ▲ 0.22% ABEV3 15.96 ▲ 0.38% BBAS3 21.19 ▲ 1.97% B3SA3 15.63 ▲ 2.02% WEGE3 46.82 ▲ 2.59% PRIO3 59.96 ▲ 2.65% SUZB3 42.73 ▲ 1.02% RENT3 38.23 ▲ 2.11% AZZA3 15.86 ▼ 1.80% CSAN3 3.99 ▲ 2.57% RAIZ4 0.26 — 0.00% PCAR3 2.74 ▼ 2.49% GMAT3 3.98 ▲ 2.31% PSSA3 54.35 ▲ 1.00% CVCB3 1.30 ▲ 1.56% POSI3 3.52 ▼ 0.85% SLCE3 13.26 ▲ 1.30% NATU3 8.33 ▲ 0.73% BRKM5 5.93 ▲ 3.67% RANI3 8.03 ▲ 0.88% CSNA3 4.95 ▼ 4.81% CMIN3 5.72 ▼ 4.35% USIM5 7.55 ▼ 9.25% GGBR4 24.98 ▲ 0.77% ENEV3 26.15 ▲ 1.08% CPFE3 46.09 ▲ 2.90% CMIG4 11.23 ▲ 2.09% EQTL3 38.66 ▲ 2.22% LREN3 13.52 ▲ 1.20% VIVT3 32.63 ▲ 0.28% RAIL3 14.28 ▲ 2.37% KLABIN 18.05 ▲ 0.17% RAIA DROGASIL 18.25 ▲ 2.76% RDOR3 34.42 ▲ 1.68% HAPV3 11.01 ▲ 4.36% FLRY3 16.97 ▲ 0.83% SMTO3 14.40 ▲ 0.91% UGPA3 32.92 ▲ 2.88% VBBR3 35.63 ▲ 2.98% BBSE3 40.86 ▼ 0.15% BPAC11 56.62 ▲ 3.59% CURY3 30.40 ▲ 5.37% AERI3 2.13 ▲ 0.95% VIVARA 22.16 ▼ 0.85% COMPASS 24.84 ▲ 2.60% VAMOS 3.42 ▲ 3.32% SANB11 25.25 ▼ 1.48% ASAI3 8.41 ▲ 1.33% SBSP3 27.41 ▲ 3.01% WALMEX 50.34 ▲ 1.78% GMEXICO 212.28 ▲ 2.66% FEMSA 219.70 ▲ 3.56% CEMEX 20.72 ▲ 0.63% GFNORTE 200.90 ▲ 2.13% BIMBO 60.83 ▲ 1.59% TELEVISA 9.94 ▲ 0.81% AMX 21.99 ▲ 0.73% GAP 382.13 ▲ 0.81% ASUR 276.56 ▲ 1.69% OMA 233.94 ▲ 0.55% KOF 189.04 ▲ 1.18% GRUMA 268.28 ▲ 0.39% KIMBER 40.34 ▼ 0.25% SQM-B 63,290 ▼ 0.80% COPEC 6,300 ▲ 1.78% BSANTANDER 80.70 ▲ 0.57% FALABELLA 6,220 ▲ 0.06% ENELAM 87.65 ▲ 1.11% CENCOSUD 1,945 ▲ 1.35% CMPC 1,030 ▼ 0.49% BANCO CHILE 196.80 ▲ 3.04% LATAM AIR 24.90 ▲ 2.05% YPF 81,400 ▲ 2.04% GGAL 8,015 ▲ 2.82% PAMPA 5,525 ▲ 2.89% TXAR 648.00 ▼ 1.52% ALUAR 979.00 ▲ 0.62% TGS 9,820 ▲ 3.26% CEPU 2,407 ▲ 5.06% MIRGOR 16,725 ▲ 1.06% COME 44.75 ▲ 4.95% LOMA NEGRA 3,690 ▲ 0.48% BYMA 299.00 ▲ 0.34% TELECOM ARG 4,355 ▲ 1.52% ECOPETROL 17.04 ▲ 3.90% BANCOLOMBIA 93.89 ▲ 4.94% GRUPO AVAL 5.17 ▲ 5.41% CREDICORP 402.27 ▲ 4.78% SOUTHERN COPPER 185.00 ▲ 5.43% BUENAVENTURA 31.86 ▲ 5.43% MERCADOLIBRE 1,886 ▲ 1.20% NUBANK 14.49 ▲ 3.21% XP 17.20 ▲ 5.46% PAGSEGURO 9.84 ▲ 3.14% STONE 11.43 ▲ 4.29% GLOBANT 36.39 ▼ 4.61% TECNOGLASS 43.59 ▼ 2.87% GAP AIRPORT 219.58 ▲ 1.20% ASUR 276.56 ▲ 1.69% OMA AIRPORT 108.09 ▲ 1.61% AMX ADR 25.33 ▲ 1.85% FEMSA ADR 126.76 ▲ 4.71% CEMEX ADR 11.94 ▲ 2.01% PETROBRAS ADR 19.12 ▲ 2.85% VALE ADR 14.99 ▲ 2.32% ITAU ADR 8.44 ▲ 3.56% SANTANDER BR 5.06 ▲ 1.29% AMBEV ADR 3.12 ▲ 0.65% CSN 1.01 ▼ 2.43% GERDAU 4.96 ▲ 2.06% LATAM ADR 53.94 ▲ 3.63% BTC 64,230 ▲ 0.50% ETH 1,902 ▼ 0.33% SOL 74.06 ▲ 0.63% XRP 1.08 ▲ 0.65% BNB 587.53 ▲ 2.82% ADA 0.17 ▲ 5.18% DOGE 0.07 ▼ 0.16% AVAX 6.41 ▼ 0.17% LINK 8.35 ▲ 0.35% DOT 0.76 ▲ 0.18% LTC 45.29 ▼ 0.27% BCH 215.23 ▲ 1.94% TRX 0.33 ▲ 0.85% XLM 0.17 ▼ 0.90% HBAR 0.07 ▲ 0.28% NEAR 1.64 ▲ 1.30% ATOM 1.26 ▼ 1.26% AAVE 99.34 ▲ 3.42% SELIC 14.25% EMBRAER 86.14 ▲ 0.06% EMBRAER ADR 68.11 ▲ 0.67% JBS 14.29 ▲ 0.42% JBS BDR 72.15 ▼ 0.32% MBRF3 17.96 ▲ 7.80% MBRFY 3.47 ▲ 9.12% INTER 5.64 ▲ 4.25% EGX 53,442 ▼ 0.35% USD/ZAR16.51▼ 0.84% USD/NGN 1,362 — 0.00% NIKKEI 64,572 ▲ 4.37% CSI300 4,613 ▲ 1.39% HSI 25,851 ▼ 0.03% NIFTY 24,317 ▲ 0.28% KOSPI 6,371 ▲ 13.89% JCI 6,229 ▲ 0.68% USD/JPY160.49▼ 1.78% USD/CNY6.75▼ 0.28% DAX 25,612 ▲ 0.60% CAC 8,486 ▲ 0.92% FTSE 10,897 ▼ 0.10% MIB 52,104 ▲ 1.29% IBEX 19,758 ▲ 1.78% STOXX 649.95 ▲ 0.77% EUR/USD1.15▲ 0.41% GBP/USD1.35▲ 1.23% SPX 7,438 ▲ 1.66% DJI 52,208 ▲ 1.19% NDX 28,106 ▲ 3.36% RUT 2,946 ▲ 1.37% TSX 35,506 ▲ 0.49% VIX 17.09 ▼ 17.28% USD/CAD1.40▼ 0.23% US10Y 4.6630 ▲ 0.89% IBOV 177,158.86 ▲ 1.88% IPSA 11,030.67 ▲ 0.87% IPC MEX 67,290.40 ▲ 1.22% MERVAL 3,304,918 ▲ 2.22% COLCAP 2,342.44 ▲ 1.64% BVL PERÚ 57,107.38 — — USD/BRL 5.06 ▼ 1.10% USD/MXN 17.34 ▼ 0.56% USD/CLP 925.97 ▼ 0.82% USD/COP 3,116 ▼ 2.96% USD/PEN 3.38 ▼ 0.57% USD/ARS 1,489 ▼ 0.47% USD/UYU 40.22 ▲ 1.47% USD/PYG 5,941 ▲ 0.68% USD/BOB 11.80 ▲ 5.19% USD/DOP 57.95 ▲ 0.09% USD/CRC 449.30 ▲ 1.51% USD/GTQ 7.63 ▲ 2.33% USD/HNL 26.76 ▲ 0.31% USD/NIO 36.62 ▼ 0.15% USD/VES 743.77 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.39 ▲ 0.60% USD/TTD 6.75 ▲ 1.33% EUR/BRL 5.83 ▼ 0.33% BRENT 87.80 ▼ 3.24% WTI 82.15 ▼ 2.74% IRON ORE 161.91 — — COPPER 6.49 ▲ 3.44% GOLD 4,134 ▲ 2.46% SILVER 58.74 ▲ 1.51% SOY 1,194 ▲ 1.36% CORN 469.00 ▲ 4.45% WHEAT 657.75 ▼ 0.45% COFFEE 324.50 ▼ 0.40% SUGAR 14.44 ▼ 0.41% ORANGE JUICE 145.95 ▲ 5.80% COTTON 81.10 ▲ 3.95% COCOA 5,118 ▼ 1.29% BEEF 227.45 ▼ 0.20% CATTLE 342.60 ▼ 0.49% LITHIUM 69.81 ▲ 4.60% PETR4 42.84 ▲ 2.00% VALE3 76.09 ▲ 1.39% ITUB4 42.74 ▲ 2.20% BBDC4 18.39 ▲ 0.22% ABEV3 15.96 ▲ 0.38% BBAS3 21.19 ▲ 1.97% B3SA3 15.63 ▲ 2.02% WEGE3 46.82 ▲ 2.59% PRIO3 59.96 ▲ 2.65% SUZB3 42.73 ▲ 1.02% RENT3 38.23 ▲ 2.11% AZZA3 15.86 ▼ 1.80% CSAN3 3.99 ▲ 2.57% RAIZ4 0.26 — 0.00% PCAR3 2.74 ▼ 2.49% GMAT3 3.98 ▲ 2.31% PSSA3 54.35 ▲ 1.00% CVCB3 1.30 ▲ 1.56% POSI3 3.52 ▼ 0.85% SLCE3 13.26 ▲ 1.30% NATU3 8.33 ▲ 0.73% BRKM5 5.93 ▲ 3.67% RANI3 8.03 ▲ 0.88% CSNA3 4.95 ▼ 4.81% CMIN3 5.72 ▼ 4.35% USIM5 7.55 ▼ 9.25% GGBR4 24.98 ▲ 0.77% ENEV3 26.15 ▲ 1.08% CPFE3 46.09 ▲ 2.90% CMIG4 11.23 ▲ 2.09% EQTL3 38.66 ▲ 2.22% LREN3 13.52 ▲ 1.20% VIVT3 32.63 ▲ 0.28% RAIL3 14.28 ▲ 2.37% KLABIN 18.05 ▲ 0.17% RAIA DROGASIL 18.25 ▲ 2.76% RDOR3 34.42 ▲ 1.68% HAPV3 11.01 ▲ 4.36% FLRY3 16.97 ▲ 0.83% SMTO3 14.40 ▲ 0.91% UGPA3 32.92 ▲ 2.88% VBBR3 35.63 ▲ 2.98% BBSE3 40.86 ▼ 0.15% BPAC11 56.62 ▲ 3.59% CURY3 30.40 ▲ 5.37% AERI3 2.13 ▲ 0.95% VIVARA 22.16 ▼ 0.85% COMPASS 24.84 ▲ 2.60% VAMOS 3.42 ▲ 3.32% SANB11 25.25 ▼ 1.48% ASAI3 8.41 ▲ 1.33% SBSP3 27.41 ▲ 3.01% WALMEX 50.34 ▲ 1.78% GMEXICO 212.28 ▲ 2.66% FEMSA 219.70 ▲ 3.56% CEMEX 20.72 ▲ 0.63% GFNORTE 200.90 ▲ 2.13% BIMBO 60.83 ▲ 1.59% TELEVISA 9.94 ▲ 0.81% AMX 21.99 ▲ 0.73% GAP 382.13 ▲ 0.81% ASUR 276.56 ▲ 1.69% OMA 233.94 ▲ 0.55% KOF 189.04 ▲ 1.18% GRUMA 268.28 ▲ 0.39% KIMBER 40.34 ▼ 0.25% SQM-B 63,290 ▼ 0.80% COPEC 6,300 ▲ 1.78% BSANTANDER 80.70 ▲ 0.57% FALABELLA 6,220 ▲ 0.06% ENELAM 87.65 ▲ 1.11% CENCOSUD 1,945 ▲ 1.35% CMPC 1,030 ▼ 0.49% BANCO CHILE 196.80 ▲ 3.04% LATAM AIR 24.90 ▲ 2.05% YPF 81,400 ▲ 2.04% GGAL 8,015 ▲ 2.82% PAMPA 5,525 ▲ 2.89% TXAR 648.00 ▼ 1.52% ALUAR 979.00 ▲ 0.62% TGS 9,820 ▲ 3.26% CEPU 2,407 ▲ 5.06% MIRGOR 16,725 ▲ 1.06% COME 44.75 ▲ 4.95% LOMA NEGRA 3,690 ▲ 0.48% BYMA 299.00 ▲ 0.34% TELECOM ARG 4,355 ▲ 1.52% ECOPETROL 17.04 ▲ 3.90% BANCOLOMBIA 93.89 ▲ 4.94% GRUPO AVAL 5.17 ▲ 5.41% CREDICORP 402.27 ▲ 4.78% SOUTHERN COPPER 185.00 ▲ 5.43% BUENAVENTURA 31.86 ▲ 5.43% MERCADOLIBRE 1,886 ▲ 1.20% NUBANK 14.49 ▲ 3.21% XP 17.20 ▲ 5.46% PAGSEGURO 9.84 ▲ 3.14% STONE 11.43 ▲ 4.29% GLOBANT 36.39 ▼ 4.61% TECNOGLASS 43.59 ▼ 2.87% GAP AIRPORT 219.58 ▲ 1.20% ASUR 276.56 ▲ 1.69% OMA AIRPORT 108.09 ▲ 1.61% AMX ADR 25.33 ▲ 1.85% FEMSA ADR 126.76 ▲ 4.71% CEMEX ADR 11.94 ▲ 2.01% PETROBRAS ADR 19.12 ▲ 2.85% VALE ADR 14.99 ▲ 2.32% ITAU ADR 8.44 ▲ 3.56% SANTANDER BR 5.06 ▲ 1.29% AMBEV ADR 3.12 ▲ 0.65% CSN 1.01 ▼ 2.43% GERDAU 4.96 ▲ 2.06% LATAM ADR 53.94 ▲ 3.63% BTC 64,230 ▲ 0.50% ETH 1,902 ▼ 0.33% SOL 74.06 ▲ 0.63% XRP 1.08 ▲ 0.65% BNB 587.53 ▲ 2.82% ADA 0.17 ▲ 5.18% DOGE 0.07 ▼ 0.16% AVAX 6.41 ▼ 0.17% LINK 8.35 ▲ 0.35% DOT 0.76 ▲ 0.18% LTC 45.29 ▼ 0.27% BCH 215.23 ▲ 1.94% TRX 0.33 ▲ 0.85% XLM 0.17 ▼ 0.90% HBAR 0.07 ▲ 0.28% NEAR 1.64 ▲ 1.30% ATOM 1.26 ▼ 1.26% AAVE 99.34 ▲ 3.42% SELIC 14.25% EMBRAER 86.14 ▲ 0.06% EMBRAER ADR 68.11 ▲ 0.67% JBS 14.29 ▲ 0.42% JBS BDR 72.15 ▼ 0.32% MBRF3 17.96 ▲ 7.80% MBRFY 3.47 ▲ 9.12% INTER 5.64 ▲ 4.25% EGX 53,442 ▼ 0.35% USD/ZAR 16.51 ▼ 0.13% USD/NGN 1,362 — 0.00% NIKKEI 64,572 ▲ 4.37% CSI300 4,613 ▲ 1.39% HSI 25,851 ▼ 0.03% NIFTY 24,317 ▲ 0.28% KOSPI 6,371 ▲ 13.89% JCI 6,229 ▲ 0.68% USD/JPY 160.51 ▲ 0.57% USD/CNY 6.7472 ▲ 0.05% DAX 25,612 ▲ 0.60% CAC 8,486 ▲ 0.92% FTSE 10,897 ▼ 0.10% MIB 52,104 ▲ 1.29% IBEX 19,758 ▲ 1.78% STOXX 649.95 ▲ 0.77% EUR/USD 1.1515 ▼ 0.12% GBP/USD 1.3451 ▼ 0.10% SPX 7,438 ▲ 1.66% DJI 52,208 ▲ 1.19% NDX 28,106 ▲ 3.36% RUT 2,946 ▲ 1.37% TSX 35,506 ▲ 0.49% VIX 17.09 ▼ 17.28% USD/CAD 1.4017 ▲ 0.04% US10Y 4.6630 ▲ 0.89%
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Friday, July 31, 2026

Opinion: Paradise Lost or Only Delayed?

By · January 1, 2020 · 4 min read

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SÃO PAULO, BRAZIL – One beautiful weekend morning many years ago, wandering among the artists showing and selling their paintings on the edges of São Paulo’s Praça da República, I discovered and purchased a lovely work entitled, ‘The Loss of Paradise: 22 Abril de 1500’ (‘A Perda do Paraíso’) painted by a wonderful Brazilian naïve artist, Tavares.

Two natives, surrounded by flora, fauna and animals, look out over the pristine beach at five caravels heading in to land and ‘discover’ Brazil. When originally purchased 20 years ago, like the exaggerated number of ships, the painting’s title seemed perhaps a bit pessimistically overstated; looking at things today as we enter a new decade makes me wonder if indeed it was.

Two natives, surrounded by flora, fauna and animals, look out over the pristine beach to five caravels heading in to land and ‘discover’ Brasil.
Two natives, surrounded by flora, fauna and animals, look out over the pristine beach to five caravels heading in to land and ‘discover’ Brasil. (Photo internet reproduction)
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With all of our recent history, the ‘Lava Jato’ scandals, the jailing of ex-President Lula for corruption, the impeachment of his successor Dilma Rousseff and the election of right-wing Jair Bolsonaro as president, we need to take a deep breath as we gaze into our crystal balls and try to imagine what the future holds.

Is there still life in that tired cliché question: “Is Brazil the country of the future and will it always be?” Or has its promised future been dissipated by its current malaise?

There is no question that we are at a critical moment in history and a dangerous one. ‘New York Times’ opinion writer Ross Douthat has perceptively labeled the recent past, ‘The Decade of Disillusionment’ where we have seen our hopes for a more ordered world with international institutions ascendant and millions raised from poverty to sustainability or better.

But just as things were looking more promising, a tsunami of conservative populism began to engulf the world propelled by fear that the comfortable ‘haves’ might be threatened by the uncomfortable ‘have nots’, refugees were no longer seen to enrich our societies but to endanger them.

Nowhere was this more evident than in the election and presidency of Donald Trump, the planned departure of Britain from the European Union and the growing dictatorial ambitions of Latin America’s politicians leading to growing chaos in the streets.

For those of us from abroad who love Brazil and have opted to make our homes here, we are forced to ask if the current national mood and situation is simply a bump in the already potholed road to that glorious future or something more serious? Is the paradise we imagined lost, or is it only delayed? The prognosis is not encouraging.

“42 percent of The Beaches in Brazil’s Top Tourist Cities Are Polluted” headlines ‘Folha’, citing research that “assessed 663 locations between November 2018 and last October. The data do not take into account the effects of the oil spill that hit 11 states and 15 of 31 monitored municipalities.”

With President Jair Bolsonaro’s anti-environmental edicts undermining an already precarious ecological management, ‘Folha’s’ comment that “Research shows the pollution is worsening” is certain to be correct.

On an international rating scale, the air quality of Brazil’s main cities varies between acceptable and poor. One wonders if the massive international televised advertising campaign encouraging visits to enjoy the many splendors of the State of São Paulo is money well spent. As the saying goes: you can put lipstick on a pig but it is still a pig.

“42 percent of The Beaches in Brazil's Top Tourist Cities Are Polluted” headlines ‘Folha’, citing research that “assessed 663 locations between November 2018 and last October
“42 percent of The Beaches in Brazil’s Top Tourist Cities Are Polluted” headlines ‘Folha’, citing research that “assessed 663 locations between November 2018 and last October. (Photo internet reproduction)

As an almost mirror reflection of the US under President Trump, those things which collectively make life better or endurable for the lower-income segments of the population – food support for the poor in the widely copied Bolsa Familia program, access to technical education and employment and investment in culture have all become casualties of the Bolsonaro ax.

Why isn’t there money to continue or expand these initiatives? Because the government needs these resources to pay for higher government salaries and social security just as Trump’s massive tax cut for the rich has meant savage cuts in spending for the poor.

Vanessa Barbara, a Brazilian journalist writing in the ‘New York Times’ asks the question of why, unlike the recent often violent protests in the streets of Chile, Colombia, Equador, Paraguay, Peru, Haiti, Bolivia and Venezuela, the Brazilian streets are so calm despite the many issues that cry out for protest and change? Her answer can be summarized as fear, a very real leftover from the memory of Brazil’s former military dictatorship.

“Perhaps it’s because of the government’s terrified pre-emptive reaction to the wave of protests sweeping Latin America. In late October, the president revealed that the government was monitoring political developments and that the army was prepared to intervene. One month later, Mr. Bolsonaro submitted a bill to expand the so-called “excludente de ilicitude” — an article in Brazil’s criminal code that allows impunity for some illegal acts in special circumstances, including those practiced by law enforcement officers.”

As we enter the next decade, there is a feeling in the air that as we hear the thunder of discontent in the distance, Brazil may just be experiencing the calm before the storm that will bring dramatic change not just for Brazil but for the world?

Might it be a world catastrophe or a renaissance? And might it be the moment when paradise is still on the horizon or has been lost forever?

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