U.S. strikes back in the Middle East; Republicans tying Ukrainian aid to fixes at American’s southern border; the end of China's economic miracle; Argentina's new leader has wild ideas and wild hair
Feb 4, 2024
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Vali Nasr, Mina Al-Oraibi, and David Frum discuss the US strikes in the Middle East and the GOP's betrayal on Ukraine aid. Martin Wolf shares insights on China's economic decline. Shannon O'Neil talks about Argentina's new leader and his wild economic ideas.
Javier Milla's unconventional economic approach aims to restore stability and boost growth in Argentina.
The careful and measured response to Iranian-backed militia attacks in the Middle East demonstrates the challenge of avoiding escalation while protecting American credibility.
Deep dives
Javier Milla's Anti-Establishment Appeal in Argentina
Javier Milla, the newly elected president of Argentina, has gained popularity for his anti-establishment stance and calls for economic reforms. Coming from an anarcho-capitalist libertarian background, Milla aims to abolish the central bank and reduce the size of the state. He idolizes figures like Margaret Thatcher and advocates for privatization and budget balancing. The previous peronist-led governments have left Argentina's economy in a state of recession and high inflation. Milla's unconventional approach and focus on economic issues have struck a chord with tired and disillusioned voters, especially the younger generation. Supported by smart advisers and the IMF, his policies are aimed at restoring stability and boosting economic growth in Argentina.
The United States' Response to Iran's Proxy Groups in the Middle East
The recent attacks on American soldiers in Jordan by Iraqi militias, backed by Iran, have prompted the United States to respond militarily. The Biden administration faces the challenge of avoiding further escalation while also displaying strength and protecting American credibility. A careful and measured response has been chosen, aiming to prevent a large-scale conflict with Iran's proxies. These Iranian-backed groups, such as the Houthis, Hezbollah, and Islamic resistance in Iraq, leverage conflict with established armies to gain legitimacy and assert regional influence. The United States needs to navigate this complex situation, considering the potential impact on Iraq's government, the broader security system in the Persian Gulf, and the ongoing tensions with Iran.
The Blockage of American Aid to Ukraine and Israel by GOP Members
The delay in providing aid to Ukraine and Israel by Republicans in Congress is seen as a betrayal by David Frum, a long-time conservative. The GOP is linking the much-needed aid to immigration reform and border security, pressing for these domestic issues to be resolved before releasing funding. Frum points out the irony of such conditions, as they hinder support for Ukraine in its ongoing war with Russia, while claiming to champion pro-Ukraine policies. This delay reveals a loyalty to former President Trump and raises questions about the motivations behind these actions. The Biden administration is striving to find a way to secure the aid needed for Ukraine and Israel, despite the obstruction.
Assessing China's Economic Challenges and Prospects
China's economic growth has slowed down significantly, leading to debates and concerns regarding its future trajectory. The country has faced challenges related to declining productivity and a shrinking labor force. While China still has the potential for growth due to its large population and potential for market reforms, it requires significant shifts in economic policies to promote dynamism and efficiency. However, questions remain about whether Chinese leadership is willing to embrace such changes, as it balances the desire for state control with the need for market-friendly reforms. The international community is closely watching China's economic policies and their impact on the global economy.
This week on the show Fareed speaks to Vali Nasr, professor of Middle East Studies and International Affairs at Johns Hopkins University and Mina Al-Oraibi, editor-in-chief of The National, to discuss whether the U.S retaliatory attacks on pro-Iranian militia targets in Iraq and Syria are the start of America's entry into a broader war.
Then, as Republicans continue to hold up aid to Ukraine, Fareed asks David Frum, staff writer at The Atlantic, why he considers this the GOP's great betrayal.
Next, Financial Times chief economics commentator Martin Wolf tells Fareed why he believes China’s economic miracle has ended and what the future holds.
Finally, Fareed sits down with Shannon O'Neil, senior fellow for Latin America studies at the Council on Foreign Relations, to discuss Javier Milei's ascension to Argentina's presidency and his wild ideas to repair his country's economy.
