The $3.5 billion deep water port, set to start operations late this year, will provide China with a direct gateway to the resource-rich region. Over the last ten years, Beijing has unseated the United States as the largest trade partner for South America, devouring its soy, corn and copper. The port, majority-owned by Chinese state-owned firm Cosco Shipping, will be the first controlled by China in South America.
BUENOS AIRES (Reuters) -Argentina libertarian economist Javier Milei was sworn in as president on Sunday in a sharp swerve for the South American country as it seeks a radical fix for the worst economic crisis in decades and inflation rapidly heading towards 200%. Milei, 53, a former TV pundit who shot to fame with expletive-ridden tirades against rivals, China, and the pope, took the presidential sash from outgoing Peronist Alberto Fernandez in a packed Congress with crowds gathered outside. Th
Javier Milei will be sworn in as Argentina s president on Sunday, sealing the abrupt rise of a political outsider who is pledging shock therapy and deep spending cuts to fix the South American.
Argentines expressed a mixture of ecstasy and trepidation on Monday after libertarian outsider Javier Milei, pledging radical fixes to the economy, swept to power with an election win over Peronist government rival Sergio Massa. Milei, who will take office on Dec. 10, marks a major direction change for Argentina, which is battling with inflation nearing 150%, capital controls that impede business, two-fifths of the population in poverty and a looming recession. The wild-haired former TV pundit, who some have compared to former U.S. and Brazilian presidents Donald Trump and Jair Bolsonaro, only entered politics recently, but was able to ride a wave of voter anger at the status quo.