Lula Says Brazil, China Can Change World Governance Together

Let's hope so. The "World governance system" he's talking about is the US-led institutional international financial system, majorly the World Bank and IMF. Those are organized as neocolonial extraction institutions: they bring global south countries into the position of needing debt, then keep them in perpetual debt that cannot and will not be forgiven, as it is the wrench with which the extraction functions. As conditions to receive it, that "order" forces austerity and "structural adjustments" that serve to prevent any own industrial development and thereby the chance to gain value-added wealth. The debt also forces the countries to devalue their currencies, which in turn makes the raw materials in these countries cheaper, which have international, world market prices paid in a US dollar that conversely strengthens against these currencies. That drives the need for more IMF debt, worsening the cycle.

There is a reason the global south is looking to China to escape this pit. forces the denomination of debt in dollars that

> China “recognized the need to reform” the UN and the Security Council in order to make them “more representative and democratic,”

Well thats good. A toothless UN is one of the worst mistakes of the post-WWII order.

And I can see why China wants that right this second... but I'm surprised they want this in the longer term, as a stronger UN beings bigger repercussions for its largest members.

I think the most immediate result of this will be that the CIA replaces Lula.