Bolsonaro asks Brazil execs to support Macri's re-election

[Judi Lynn]

He fears the opposition may hinder the opening of Mercosur if elected
Published in 21/08/2019 - 16:01 By Andreia Verdélio Brasília

President Jair Bolsonaro today (Aug 21) asked Brazilian business owners to support the re-election of Argentina President Mauricio Macri. At the Brazil Steel Congress 2019, in Brasília, Bolsonaro expressed concern over the election of opposition hopeful Alberto Fernández.

“The fact that the primaries showed a wide margin for the opposition was enough for the market to respond immediately [with a slide in Argentina’s stock exchange and a hike in the dollar]. But this scenario can be reverted if you can all contribute. We’re not supporting Macri. We want the old left not to regain power. If the way to do that is to support Macri, so be it, as I have done discreetly. I’ve urged everybody to do the same,” Bolsonaro said.

In the August 11 primaries, Fernández, with former President Cristina Kirchner as running mate, received 47 percent of the vote. Incumbent Mauricio Macri garnered 32 percent.

Bolsonaro’s concern is seeing Fernández elected and posing resistance to the economic opening of Mercosur and the recent agreement the bloc inked with the European Union. “If we have to reconsider [Mercosur and the agreement], we’ll take the initiative and aim for bilateralism, if that’s the best thing to do,” Bolsonaro stated. “[Alberto Fernández] said he doesn’t want to move away from us when it comes to economic matters. OK, we can walk together in the economy, but never in political matters. If they deviate from defending democracy and liberty, we’ll take a political stance too,” he added.

More:
http://agenciabrasil.ebc.com.br/en/internacional/noticia/2019-08/bolsonaro-asks-brazil-execs-support-macris-re-election

[sandensea]

1. Bolso the Jungle Burner is as delusional as his buddy Trump

Argentine candidates essentially need a 10% margin to avoid a runoff; Fernández already has a 16% margin from Sunday's first round - and polling now has him 20% up for the 2nd round in October.

So Brazilian businessmen, like their Argentine counterparts, are quickly acclimating themselves to an Alberto Fernández presidency - and no doubt making the requisite phone calls to his economic advisers (as many Argentine CEOs already have).

Top among Brazilian industrialists' concerns? Rebuilding Argentina's depressed domestic market - and curbing Macri's abusive (and self-enriching) utility hikes, which now eat up 20% or more of many factories' income.

Brazil's sales to Argentina have collapsed 45% since the Macrisis began in April 2018, and sharp losses have been recorded in most of the sizable factories Brazilians own in Argentina.

Some, like footwear maker Alpargatas (the largest in Argentina), have shut down altogether. 1,300 good jobs, gone.

That's what Brazilian business is most worried about. And that's what they ask Fernández's people most often:

"How will you recover local demand to what it was until just a couple of years ago?"

I can tell you that had Macri (somehow) been re-elected, they would've asked him nothing.

They would've simply shut down and left.