Carla Subirana

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99 appearances 2 recordings 1 series first heard Jul 2026 last heard 10 Sep

Carla Subirana’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 2 in all, peaking in Sep 2026 with 1.

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Economist Podcasts · Working memory: the surprising decline of dementia · 30 Jul 2026 podcast

And then another concern may be that PIX becomes a model for other countries in Latin America, because if more countries build similar instant payment systems, American card networks could lose more influence and revenue across the region.

But I will say that I think that fear is also probably overstated because PIX was the product of a very unusual set of circumstances.

Brazil has a very powerful and highly trusted central bank, which had the authority to require the country's banks to participate.

And it also had a huge domestic market where millions of people relied on cash.

So there was a lot of demand for sort of a free digital alternative.

And there are very few countries in Latin America that have those combination of factors.

So PIX is actually much harder to replicate than many people assume.

And you can see this with what happened in Mexico, which launched its own version of PIX in 2019.

But it really never took off because unlike Brazil, the Mexican central bank didn't require major banks to adopt it.

And so by 2024, only around 1.6% of Mexicans were using it.

So that kind of shows how unique Brazil's experience has been.

Well, I think this has spectacularly backfired.

And the biggest beneficiary may actually be Brazil's president, who's known as Lula, and who is up for re-election later this year.

Because Brazilians are incredibly proud of pigs.

It's sort of like one of the few things that commands broad support across the political spectrum because almost everyone uses it.

And since Trump stories were announced, there have been loads of memes defending pics spread through social media.

So it's really become a symbol of resistance to what many see as foreign interference in Brazil's affair.

So I think that rather than undermining it, those attacks seem to have strengthened its status as a source of national pride.

Thank you, Jason.

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