Argentine President Javier Milei spoke at the World Economic Forum (WEF) in Davos Switzerland, warning attendees regarding socialism and claiming that the Western world is in danger."
During his speech, Argentina's new libertarian laid out his vision on a global stage and assured the world's business leaders that his nation is their "staunch, unconditional ally." He also said that businesspeople are social benefactors and heroes.
The Argentine president added that they should not let anyone tell them that their ambition is immoral, noting that if they make money, it is because they offer a better product at a better price.
Milei, who is a self-declared "anarcho-capitalist," was able to win his country's presidential race in November last year. This followed an unconventional campaign filled with big promises to overhaul Argentina's beleaguered economy.
He is also famous for brandishing a chainsaw at several of his rallies as an illustration of his plans to slash the country's public spending. Milei had also promised to address Argentina's hyperinflation, making it his top priority, as per CNN.
This comes as year-on-year inflation in the South American country topped 211% in December, which was the highest level recorded in more than three decades. When he spoke at the WEF, Milei said that socialism had done nothing but plunge his country into poverty, adding that free-market capitalism was the only system that could generate true prosperity.
He said that Argentina shows that no matter how rich you may be or how much you may have in terms of natural resources, if trade is hindered, the only possible end path is poverty. Milei claimed that this would also be true if measures were adopted that hinder the free function of markets, free competition, and free price systems.
Since the time that former Argentine President Juan Peron came to power in the 1940s, the country's dominant political ideology has been characterized in part by heavy state intervention in the economy.
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Addressing Argentina's Economic Issues
The Davos meeting marks Milei's first international trip following his presidential win last year. It is also considered a test for the ring-wing lawmaker who is seen as a political newcomer, according to Fox News.
Milei is often compared to former United States President Donald Trump and he is looking to win the latter's support for his economic ideas. These include shutting the central bank and adopting the dollar.
In his Davos speech, the Argentine president focused on the role of the state across a wide range of activities. He argued that these amounted to levers of control rather than allowing the nation's people the freedom to prosper through their own efforts.
Milei also criticized Davos for what he considered to be its "socialist agenda, which will only bring misery to the world." The annual WEF meeting's overarching theme this year is "Rebuilding Trust."
The forum noted that the program this time around embodies a "back to basics" spirit of open and constructive dialogue between policymakers, business leaders, and civil society. Klaus Schwab, the founder of the WEF, introduced the Argentine president to the stage by saying that Milei's "more radical methods" had "introduced a new spirit to Argentina," said CNBC.
