Barron’s (August 14)
“Investors have typically penalized emerging markets such as Turkey, Argentina, and China due to concerns about the independence of the central bank, government intervention in the private sector, and rampant overspending.” Now these concerns are focused on “the U.S., which has historically been the paragon of a developed market.” Investors are reevaluating “the premium that U.S. assets have long commanded” and this could lead to “weaker long-run returns for stocks or, more immediately, higher bond yields and a continuation in the weakness of the dollar that has emerged this year.”
Tags: Argentina, Bond yields, Central bank, China, Developed market, Emerging markets, Government intervention, Independence, Investors, Overspending, Paragon, Penalized, Premium, Private-sector, Rampant, Reevaluating, Returns, Stocks, Turkey, U.S. assets
Washington Post (March 14)
President Trump may be hoping to copy Argentinian President Javier Milei’s success at beating inflation and rejuvenating an economy. Trump now seems “willing to risk a recession to see his vision come to pass,” but his approach is more likely to “backfire and harm the economy for years to come. Recessions hurt. They have long-lasting effects.” On top of that, the President is focused on restoring yesteryear’s jobs. He “is fixated on returning to the economy of the 1990s — or even the 1890s. The only thing worse than undergoing a forced recession would be a forced recession that leaves America less competitive.”
Tags: 1990s, Argentina, Backfire, Economy, Inflation, Jobs, Less competitive, Milei, Recession, Risk, Trump, Vision
Barron’s (November 12)
“Germany’s economy, historically the powerhouse of Europe, is going through a rough patch. Its reliance on Russian energy and trade with China will have to be scaled back and new sources of growth found.” The nation’s GDP “declined in the third quarter, bringing down the rest of the euro zone with it,” and the OECD now “expects Germany to be the second worst performer in its group of 30 advanced economies this year, ahead only of Argentina.”
Tags: Argentina, China, Economy, Europe, GDP, Germany, Growth, OECD, Powerhouse, Reliance, Russian energy, Trade, Worst performer
Mercury News (May 12)
“From Mexico to far-flung Argentina, thousands of Latin Americans are booking flights to the United States to take advantage of one of the world’s most successful vaccination campaigns, as rollouts in their own countries sputter.” The increased demand is evident. “Flight prices from Mexico to the United States have risen an average of 30%-40% since mid-March.”
Tags: Argentina, Boomed, Campaign, Demand, Flight prices, Flights, Latin America, Mexico, Rollouts, Sputter, U.S., Vaccination
Forbes (October 28)
“Amid a global slowdown in economic growth that has seen central banks lower interest rates near zero or below in an effort to provide stimulus,” a number of “major economies are on high recession alert.” These include Hong Kong, the U.K., Germany, Italy and China. “Other highly stressed economies around the world include Turkey, Argentina, Iran, Mexico and Brazil.”
Tags: Argentina, Brazil, Central banks, China, Economic growth, Germany, Global slowdown, Hong Kong, Interest rates, Iran, Italy, Mexico, Recession, Stimulus, Stressed, Turkey, U.K.
The Economist (September 7)
Argentina’s reimposition of currency controls “confirms the horrible reality that Argentina has once again become a financial outcast.” Most are quick to blame the current president Mauricio Macri. “In fact much of the blame for Mr Macri’s failure lies with his populist predecessor, Cristina Fernández de Kirchner, who …. left behind a gaping budget deficit, artificially low utility prices, statistics that were brazenly manipulated and ruinously high public spending.”
Tags: Argentina, Blame, Budget deficit, Currency controls, Fernández, Financial outcast, Macri, Manipulated, Populist, Reimposition, Statistics, Utility prices
Financial Times (March 28)
“Helped by generous subsidies from Beijing, Chinese industrial fishing fleets are travelling further and further from their depleted home waters to find fish and squid, leading to growing tension with even friendly countries such as Argentina.”
Wall Street Journal (March 1)
Mauricio Macri, the new Argentine President, is off to a dramatic start. “This week he settled a dispute with a number of the country’s creditors that had dragged on for more than a decade as it tarnished Argentina’s reputation. Mr. Macri now has the country poised for a return to international capital markets and perhaps an economic revival that was impossible under his Peronist predecessor Cristina Kirchner.”
Tags: Argentina, Creditors, Cristina Kirchner, Dispute, Economic revival, International capital markets, Mauricio Macri, Peronist, Reputation
Chicago Tribune (December 3)
“The drama never ends for Argentina, land of failed expectations and the setting for a great Broadway musical. Next week, a new leading man steps into the role of president with a chance to fix the broken economy and set a positive example for South American democracy.”
Tags: Argentina, Broadway, Broken, Democracy, Drama, Economy, Expectations, Musical, President, South America
Wall Street Journal (November 3)
“Moscow may have a currency crisis on its hands.” For the year the ruble has sunk 22% against the dollar, trailing only “Argentina as the biggest emerging-market currency loser.” Though the faltering Russian economy could benefit from lower interest rates, “the Bank of Russia raised its benchmark interest rate to 9.5% from 8% on Friday in an attempt to stop a run on the ruble and stem inflation, but the ruble kept falling even after the rate hike.”
Tags: Argentina, Benchmark, Currency crisis, Dollar, Economy, Emerging markets, Inflation, Interest rates, Moscow, Ruble, Russia
