Argentina formally announces it won't join the BRICS alliance in Milei's latest policy shift
Argentina formally announces it won't join the BRICS alliance in Milei's latest policy shift
Argentina has formally announced it won't join the BRICS bloc of developing economies. Friday's announcement is just the latest in a dramatic shift in economic policy triggered by Argentina’s new far-right President Javier Milei.
Guess the ghost dog wants the country to starve. I hope he doesn't get what he wants.
I don't think he literally wants the country to starve. He doesn't strike me like an evil fuck.
He is an incompetent ignorant, though.
Literally first paragraph from his bio in wiki:
Javier Gerardo Milei[note 1] (born 22 October 1970) is an Argentine politician and economist serving as the president of Argentina since December 2023. Milei has taught university courses in macroeconomics, economic growth, microeconomics, and mathematics for economists. He has written numerous books on economics and politics, and also hosted radio programs on the subject.
As we can see he's basically accomplished veteran of all levels of economics. And regardless of capitalist economics being more or less worthless scam, there are countries run by it and not having nosedive into fascism and slavery in a week. Therefore we can assume that either he faked his entire career and nobody noticed that or he is doing what he's doing completely on purpose.
Good riddance. Can't take a country keen on dollarization into an organization who's primary goal is dedollarization.
Why doesn't south America agree on a single currency like the Euro?
The Peso. The Sol. The Amero.
Argentina and Brazil have apparently been looking at it https://www.reuters.com/markets/currencies/brazil-argentina-begin-preparations-common-currency-ft-2023-01-22/
I assume that the rest of Mercosur would be invited over time if it's successful
Because the governments would no longer be able to fake the exchange rate, and their socialist policies would've been reveald as a scams they are, without the keys to the money printer.
Also, who would be in charge of the monetary union? A bunch of countries that couldn't even managed their own monetary systems?
Going with an existing foreign currency as a base is probably better until the situation stabilizes a bit.
🇦🇷: I consent
🇨🇳: I consent
: I don'tIsn't there someone you forgot to ask?
This is the best summary I could come up with:
BUENOS AIRES (AP) — Argentina formally announced Friday that it won’t join the BRICS bloc of developing economies, the latest in a dramatic shift in foreign and economic policy by Argentina’s new far-right populist President Javier Milei.
Milei’s predecessor, former center-left president Alberto Fernandez, endorsed joining the alliance as an opportunity to reach new markets.
But economic turmoil left many in Argentina eager for change, ushering chainsaw-wielding political outsider Milei into the presidency.
In foreign policy, he has proclaimed full alignment with the “free nations of the West,” especially the United States and Israel.
Throughout the campaign for the presidency, Milei also disparaged countries ruled “by communism” and announced that he would not maintain diplomatic relations with them despite growing Chinese investment in South America.
However, in the letter addressed to his counterpart Luiz Inácio Lula Da Silva in neighboring Brazil and the rest of the leaders of full BRICS members — Xi Jinping of China, Narenda Mondi of India, Vladimir Putin of Russia and Matamela Ramaphosa of South Africa — Milei proposed to “intensify bilateral ties” and increase “trade and investment flows.”
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Maybe in the next round we can get Algeria or Morocco instead. Either way, Argentina was the weakest link and I'm glad they left on their own.