At a meeting of South America’s presidents last week, Brazilian President Luiz Inacio Lula da Silva called for regional financial integration and some sort of mechanism to conduct trade without U.S. dollars. Judging by the number of times in recent months he has suggested something along these lines, it’s a topic on Lula’s mind.
This year’s G-7 summit made it clear the group views China and Russia as threats to the international order and offered insights into how the Western powers plan to counter them. It seems the G-7 approach has three facets: ignore Russian intimidation, economically decouple from China and court nations throughout the Global South.
Across developed countries, aging populations and slowing economic growth are rendering today’s retirement institutions unsustainable. As a result, working longer as societies age is both natural and necessary, meaning that what future generations may look back on as the “golden age” of retirement is now coming to an end.
