Milei promised to dollarize and close the central bank. What is he waiting for?
Mary Anastasia O’Grady
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Tag: Developing Economies
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Opinion | The Cure for the Run on the Argentine Peso
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Milei Fixed Half of Argentina’s Inflation Problem. He Needs Help With the Rest.
Two years ago, Argentines elected the radical libertarian Javier Milei as president with a mandate to fix the country’s chronically high inflation.
The odds didn’t look good. Previous presidents had failed to address one of inflation’s root causes: government deficits. Without access to capital markets, Argentina often turned to the central bank to finance its deficits by printing money. Efforts to rein in spending were stymied by resistance in Congress and by the public.
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[ad_2] Greg Ip
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Milei Is Counting on Trump to Bail Argentina Out of an Economic Mess
Argentine President Javier Milei is staking the future of his free-market overhaul on his relationship with President Trump, who stopped short of promising a bailout for Argentina but issued an unusual political endorsement of the leader in coming elections.
“We’re going to help them,” Trump told reporters Tuesday after meeting with Milei on the sidelines of the United Nations General Assembly gathering of world leaders. “If he can continue to do the job that he’s been doing, it’s going to really be something special.”
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[ad_2] Ryan Dubé
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China’s Colossal Hidden-Debt Problem Is Coming to a Head
China’s Colossal Hidden-Debt Problem Is Coming to a Head
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The Cost of Doing Business With China? A $40,000 Dinner With Xi Jinping Might Be Just the Start
Updated Nov. 28, 2023 12:54 am ET
Broadcom Chief Executive Hock Tan shelled out $40,000 to sit at Xi Jinping’s table for the Chinese leader’s recent dinner in San Francisco with the heads of American businesses. Tan had a lot more at stake—a $69 billion deal he was waiting on China to approve.
For months, Chinese regulators wouldn’t clear the U.S. chipmaker’s bid to buy enterprise software developer VMware, leading Broadcom to put off its date for completion of the deal—first announced in May 2022—three times. Beijing had held up previous mergers involving U.S. companies. Intel’s planned acquisition of Israeli firm Tower Semiconductor, for more than $5 billion, was scuttled in August after Chinese regulators failed to approve it.
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How Starbucks Lost the Top Spot in China’s Coffee Race
Starbucks is losing its prime spot among chains racing to meet China’s growing thirst for coffee.
Luckin Coffee has surpassed Starbucks as China’s biggest coffee chain by sales and units, company reports show, a comeback for the Chinese company after an accounting scandal that stalled its growth.
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WSJ News Exclusive | Xi Jinping Is Looking for Someone to Blame for China’s Property Bust
Updated Oct. 26, 2023 12:05 am ET
With China’s property bust threatening to sink the country’s economic recovery, Xi Jinping is looking for someone to blame.
After putting the billionaire founder of Evergrande, a heavily indebted property firm, under investigation for possible crimes, Beijing is expanding its probes to include bankers and financial institutions that facilitated developers’ risky behavior, people familiar with the matter say.
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China’s Factory Floor Is Moving—But Not to India or Mexico
China’s Factory Floor Is Moving—But Not to India or Mexico
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NIO’s Shares Fall on Plans to Raise $1 Billion via Convertible Bonds
NIO’s Shares Fall on Plans to Raise $1 Billion via Convertible Bonds
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How U.S. and China Are Breaking Up, in Charts
A deepening confrontation between the U.S. and China is eroding trade ties between the world’s two largest economies, with goods from China accounting for the smallest percentage of U.S. imports in 20 years.
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