Paulo Nogueira Batista Jr. predicts deglobalization in the post-pandemic world.
“This term 'deglobalization' is very appropriate; it is very likely that something of this nature will occur, in fact, it is already happening,” assesses the economist and former executive director of the IMF. Watch.
247 - Economist and former IMF executive director Paulo Nogueira Batista Jr. spoke with TV 247 about the coronavirus crisis and its consequences. He warned about the aspects of deglobalization and stated that Brazil needs to modify its political landscape to avoid a complete breakdown in its response to the crisis.
Paulo Nogueira Batista Jr. analyzed that globalization has suffered strong blows since the 2008 crisis, and that it is now suffering an even greater blow. “This term 'deglobalization' is very appropriate; it is very likely that something of this nature will occur, it is already occurring, in fact. If you look back, the beast escaped from its cage after the 70s. What animal was that? That animal that came out was the so-called neoliberal globalization that began more or less in the 80s and lasted about 30 years. Since 2008 or 2009, you have observed that this animal has suffered repeated blows.”
In addition to deglobalization, the economist said that Brazil could undergo a process of destabilization and, to avoid this possibility, stated that it is necessary to change the Brazilian political landscape, emphasizing that waiting until 2022, when the next presidential election takes place, may not be viable. “There is a risk not only of deglobalization but also of the destabilization of Brazil, which was already underway. If this crisis is very deep and completely breaks the country and the economy, we could have a disarticulation of such magnitude that we become incapable of responding positively to this deglobalization and the opportunities it creates. It is politically fundamental not to delay changing the Brazilian political landscape; I don't know if we can wait for the 2022 elections. The scenario that is taking shape is one in which conservative forces of the traditional right are trying to promote a kind of 'soft' ban on Bolsonaro, the so-called operational president.”
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