It didn't take long after his election in 2002 for the new President of Brazil, Luiz Inacio Lula da Silva, to make his mark. In Cancun, Mexico, last September, a coalition of developing nations shut down a meeting of the World Trade Organization. Led by Lula and Brazil, the developing world refused to negotiate new foreign-investment rules until powers like the U.S. and the European Union promised to cut the lavish agriculture subsidies that effectively keep developing-world farmers out of lucrative markets. Lula's stance may also derail or seriously dilute the Free Trade Area of the Americas, the hemisphere-wide pact that...
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