Lula-Milei Clash Embodies the World’s Competing Economic Views

Brazilian leader is a veteran politician, old-school leftist
Argentine president is a novelty, offering radical solutions

Javier Milei embraces Jair Bolsonaro during his inauguration ceremony outside the National Congress in Buenos Aires on Dec. 10, 2023. Photographer: Erica Canepa/Bloomberg

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By Manuela Tobias and Simone Iglesias

March 28, 2024 at 11:30 AM UTC

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There are few presidents in the world today with more radically different economic models than Argentina’s Javier Milei and Brazil’s Luiz Inacio Lula da Silva.

Milei is desperate to gut public spending, sell off state-run companies and slash regulations. Lula, meanwhile, hounds his aides to ramp up spending, revitalize state companies to drive industrial policy and strengthen regulations to protect workers and the environment.