In the Argentine ** election, Javier Milley defeated the candidate of the left-wing ruling party, Gio Massa, and became the new **. Despite leading Milley in the primaries, he did not perform well in the runoff rounds, even trailing Massa at one point. In the end, however, he won the election by consolidating the votes of right-wing supporters in Argentina. In the manifesto, Milley proposed policies such as abolishing the national currency, full dollarization, and opposing joining the BRICS, giving people the impression of being very conservative and extreme, somewhat like South Korea's Yoon Suk-yeol. However, these ideas are difficult to implement at the national level, so Argentina is likely to fall into chaos during his administration.
And for this election, people may wonder: if Milley is so unreliable, why did the Argentine people still elect him to power?The reason is actually very simple, this election is essentially "worse than bad". During Milley's rival Massa's tenure as Argentina's economy minister, Argentina's annualized inflation rate was as high as 1427%, the exchange rate of the peso against the US dollar is sharply**. Although there are many reasons for this, such as the Fed's aggressive interest rate hikes, ordinary people do not have the ability to put pressure on the Fed, so their only option is to change the leader. In Latin America, the rotation of left and right parties is the norm, and Argentina has become a pioneer in this rotation.
Argentina's rightward shift could have implications for neighboring countries, especially Brazil. Brazil has been vying for the status of the "leader" of South America, and Argentina, which was previously ruled by the left, has been a competitor to Brazil. However, Argentina's right turn now is tantamount to ceding the position of "leader" directly to Brazil. If Milley continues to pursue his style in the international community, exacerbating issues and even disrespecting the BRICS, then Brazil has a chance to eat the "solitary food" of BRICS investment in South America. From this point of view, Argentina's turn to the right has become a historical opportunity for Brazil.
However, the political dilemma in South America needs to be solved through economic development. If Milley's "fierce medicine" can work unexpectedly, Argentina may usher in a round of development. But the more likely outcome is that four years later, Brazil's economy will be back on track, led by the BRICS, while Argentina will be in shambles because of Milley's leadership. At that point, the Argentine population may rebel again, hoping for a political shift.
Argentina's new Javier Milley led in the primaries but did poorly in the runoff round, eventually winning the election by consolidating the support of right-wing voters. However, Milley's policy views are conservative and extreme, and some like South Korea's Yoon Suk-yeol are difficult to implement at the national level. The election was essentially "worse than bad", because inflation and exchange rate problems caused by the economy minister forced the Argentine people to choose a new leader. Argentina's turn to the right could have a positive impact on Brazil, giving it a chance to become the "leader" of South America. However, the political dilemma in South America needs to be solved through economic development, and if Milley's policies are successful, Argentina may usher in development, but if Argentina's chaotic situation continues, it will affect the stability and development of the entire region. Therefore, development has become the key to solving the political dilemma in South America.