Lula on Russia and the US Dollar

Why Lula's remarks must be understood from the perspective of domestic politics, not foreign policy.

Fragmentation. That is the lexicon of the IMF/World Bank Spring Meetings taking place here in Washington, DC this week. While the world tries to come to grips with industrial policy and subsidy wars, climate change concerns, and growing geopolitical risks, Lula is in China making some noise. The Brazilian president has refused to take a stance on the Ru…