‘Today, the rebuilding of Argentina begins’, Javier Milei declared in his first speech as the new president-elect. The anarcho-capitalist is wasting no time in his mission.
Milei has already pulled the plug on what was set to be current president Fernandez’s career-defining achievement: Argentina’s historic admittance to Brics (a loose alliance of economies led by Brazil, Russia, India and China). Argentina’s new leader intends instead to swivel westwards, prioritising trade and relations with ‘the liberal democracies of the world’, while casting a backwards glance at China.
Is Milei right to reorient Argentina, or is he biting the hand that feeds him? Beijing has declared it a ‘grave error’ if Argentina opts to burn bridges. China has certainly been generous to Argentina, as its second-largest trading partner. During a time where Argentina owes the IMF huge sums of dollars, but is running in deficit of dollar reserves, China has happily gone above and beyond in currency
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