On Argentina’s Woes & China’s Policies

Argentina’s failing economy was buoyed by IMF intervention in April, but since August the floor has fallen out. President Milei’s austerity plan is slamming consumer confidence, and foreign investors are rushing for the exits. Trump’s controversial $20 billion bailout won’t help, William predicts. It simply buys more time for a (MAGA loving) president whose shock-therapy plan is failing spectacularly, and it could set off a 1980-style downward spiral. … China’s stock market has been riding high on the government’s commitment to 5% annual GDP growth. But prioritizing the GDP targets warps economic incentives and comes at the expense of getting China’s fiscal house in order.