The Intelligence from The Economist Inflationary pressure: Argentina’s strikes
Apr 30, 2019
Edward McBride, Asia editor for The Economist, delves into Argentina's escalating crisis, where soaring inflation has ignited widespread strikes. He highlights the deep struggles Argentines face under austerity, with rising poverty and hunger affecting daily life. Shifting to Taiwan, McBride discusses Terry Guo's presidential bid, the challenges of his business ties to China, and the public's divided sentiment. The conversation also touches on a trademark controversy, exploring the tension between branding and ethics in a modern marketplace.
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Argentina's Unrest
- Argentinian trade unions initiated strikes and protests, challenging President Mauricio Macri's economic policies.
- The unrest follows a currency crisis, recession, and a record IMF loan.
Inflationary Pressure
- Argentinians' main concern is inflation, exceeding 50%, impacting the economic policies and reaching beyond union movements.
- 90% of Argentinians prioritize inflation as their primary concern, according to polls.
Macri's Challenges
- Macri's market-friendly reforms faced setbacks due to a currency crisis, recession, and a strong dollar.
- These economic struggles weakened Macri politically, increasing the risk of his predecessor, Cristina Fernández de Kirchner, returning to power.