Brazil and Venezuela Economic Governance Essay Example | Topics and Well Written Essays - 750 words

Brazil and Venezuela Economic Governance - Essay Example From this discussion it is clear that  it was the period from the second quarter of 2005 to end months of 2006 that preceding repeated presidential elections, the idea of â€Å"swing to the Left† or â€Å"new Left† was introduced in the Latin American political history. This gave rise to a new notion in the Left government of the region polarizing two social coalitions, one being a â€Å"social democratic Left† such as that of Brazil and the other being a â€Å"populist Left† illustrated by the democratic system of Venezuela.This study highlights that  under the leadership of Luiz Inà ¡cio Lula da Silva, the Brazilian economic governance became more inclined towards chasing the traditional macro-economic policies being practiced in the nation generating robust financial surplus owing to its agreement with the International Monetary Fund (IMF). In relation to its democratic governance, the nation began encouraging it’s regional as well as local capacity aiming dynamism in its socio-economic structure, even though the employment rate and other social growth factors were recorded to be worthy of deep concern. Where the aforementioned attempts made by Brazil demonstrates the main features of the governance in a   Ã¢â‚¬Å"social democratic Left† country under the influence of Latin America’s â€Å"Left Turn†, the policy measures adopted by Venezuela with the leadership of Hugo Chà ¡vez demonstrate a quite distinct picture of the â€Å"populist Left† region.