Milei wins, Argentina promised a different direction, and towards the dollar

Will Argentina's massive struggles lessen or multiply? That will depend on whether or not opposing forces work together.

Javier Milei is the new President of Argentina. His attack on “elites” and “sociopathic politicians” resonated during a blowback against liberalism and 143% inflation the past year.

He has promised to end the Central Bank, replace the local currency with the dollar, and commit to austerity. He opposes abortion and sex education, and believes in looser gun laws and less social security.

His Vice President is Victoria Villarruel who comes from a military family, and denies atrocities committed by the junta in the late 70s and early 80s, and has vowed to close the museum remembering the victims. Such actions will hamper reconciliation.

Argentina has the resources to be “great again” but its problems are enormous, and it’ll be difficult to turn populism into positive rule. Forming a coalition will be the first test of Milei’s presidency. And populism may respond to austerity as a double-edged sword.

Ex-Presidents Trump (USA) and Bolsanaro (Brazil) have congratulated Milei.

Argentina is expected to reject BRICS membership. Will that affect China’s past willingness to help them restructure the country’s loans. The USA will be looking to take advantage of the situation,and help prop up the dolalr. Will the IMF, the institution most hated by Argentinians, become more lenient with Milei and the USA in play?

Argentina has been mistreated, and is in an unfair hole that requires combined effort to escape. Will their struggles lessen or multiply? It took Russia a long time to overcome “shock therapy”.