Do populists always crash the economy?
AI Summary
In Buenos Aires, Argentine money changers predict a devaluation of the peso following midterm elections on October 26. President Javier Milei's government has capped the currency to combat inflation but this has led to economic stagnation and increased imports. Since Milei took office two years ago, 18,000 businesses have closed, and 253,800 jobs have been lost. Milei’s policies, including reduced tariffs, have disadvantaged local industries against foreign competition. Economists warn that devaluing the peso could lead to soaring inflation. Argentina's economic situation under populist leadership is being closely watched by other global leaders as a potential indicator of the impact of similar policies.
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This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).
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