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      At Davos, War Is on the Agenda, but the Focus Is on A.I. and Elections

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      The leaders and executives gathering at the World Economic Forum are obsessed with elections and artificial intelligence, not Ukraine or Gaza.Each day this week has brought a new and fleeting reminder to the executives and politicians at the annual World Economic Forum meeting of the two wars threatening global security and clouding the economy. Ukraine’s president spoke on Tuesday. Israel’s spoke on Thursday.Neither was able to hold the collective attention of a gathering that this year has focused overwhelmingly on artificial intelligence and populist politics.Gaza and Ukraine have made daily appearances on the public agenda in Davos, along with climate change and economic inequality. But in the warm halls and slushy streets around town, conversations almost inevitably turn to the two accelerating trends that are destabilizing business models and democracies.Everyone wants to talk about how A.I. and this year’s elections, especially in the United States, could shake up the world. The Russian invasion of Ukraine, the Oct. 7 attacks on Israel led by Hamas or the ensuing Israeli bombing of Gaza? Drowned out in comparison.“No one is talking about Israel,” said Rachel Goldberg, who came to Davos to urge action to free the more than 100 hostages who were taken on Oct. 7 and continue to be held by Hamas, including her 23-year-old son, Hersh.In an interview on Wednesday, Ms. Goldberg said she was not surprised the war had taken a back seat here. “I think it’s complicated,” she said. “And I think it’s very polarizing.”Davos is many things layered on top of one another. It is a font of wealthy idealism, where the phrase “committed to improving the state of the world” frequently adorns the walls of the main meeting center.The forum is a networking event where chief executives, world leaders, celebrities, philanthropists and journalists speed-date through half-hour coffee meetings. It is a trade show for big ideas, with overlapping panel discussions on topics including gender equity, media misinformation and the transition to green energy.It is also a venue for top government officials to speak on grave issues, including war. That is where much of the Gaza and Ukraine discussion played out this week.President Volodymyr Zelensky of Ukraine and Klaus Schwab, the founder and executive chairman of the World Economic Forum, meeting on Tuesday.Laurent Gillieron/Keystone, via Associated PressPresident Volodymyr Zelensky of Ukraine called for international aid — but not more weapons — in a packed-house address on Tuesday to hundreds of people. He also took questions from reporters afterward.Without more assistance from the United States and others, Mr. Zelensky said, “a huge crisis will happen.” He added: “We have a war now, and we will have a huge crisis — a crisis for the whole of Europe.”Several leaders spoke about Gaza and the broader conflict it has spawned in the Middle East, though typically to smaller crowds. In a room of about 60 attendees on Wednesday, Mohammad Mustafa, the chairman of Palestine Investment Fund and the former deputy prime minister of Palestine, called for additional international aid for the people in Gaza and for an end to the war.“The military action has got to stop very quickly,” Mr. Mustafa said. “There is no need for anyone to build their political careers at the expense of more Palestinian people.”Hossein Amir Abdollahian, the foreign minister of Iran, blamed Israel for raising tensions in the Middle East in the past several months. “If the genocide in Gaza stops, then it will lead to the end of the other crises and attacks in the region,” he said.In his Thursday speech, President Isaac Herzog of Israel called Iran the center of an “empire of evil” destabilizing the Middle East and displayed a photograph of Kfir Bibas, a 1-year-old hostage being held in Gaza. “We have a very cruel, sadistic enemy who has taken a decision to try to torture the Israeli national psyche as well as the hostages themselves,” Mr. Herzog said.But those speeches rarely dominated the conversations on the sidelines of the event, at the nightly private dinners after the day’s agenda concluded or in most of the storefronts that large corporations paid to transform into branded event spaces along the main promenade in town.President Isaac Herzog of Israel with a picture of Kfir Bibas, a child who was taken hostage by Hamas, on Thursday.Denis Balibouse/ReutersOne possible explanation: Attendees and leaders here do not view either war as a significant threat at the moment to the global economy. Neither Gaza nor Ukraine cracked the Top 10 near-term concerns in the Global Risk Report — a survey of 1,500 global leaders — that the forum released on the eve of the gathering. A World Economic Forum chief economists’ report released this week suggested that growth forecasts for the Middle East had “slightly weakened” amid uncertainties about the war between Israel and Hamas. It did not mention Ukraine.In private conversations around Davos this week, corporate leaders acknowledged the wars in Gaza and Ukraine as one of many concerns. But they grew much more animated about other topics that they said they expected to affect their businesses in the near term — potentially enormously, for good or ill.A.I. topped that list. In interviews, executives expounded, usually with significant enthusiasm, on the benefits and drawbacks of the technology. They also talked politics, exhaustively. Over dinner, they and other attendees debated whether former President Donald J. Trump would win back the White House in November — and how his populist, protectionist policy could roil markets and upend their business models.Some executives explicitly ranked Gaza and Ukraine lower than the American elections on their list of geopolitical concerns. Many attendees lamented that there was not more energy behind war discussions, or recognition of the risks the wars pose to the economy and global security. Last year, concerns about Ukraine shared the spotlight at the gathering, along with a surge of A.I. interest.This year, “everyone is focusing on other subjects,” Pascal Cagni, France’s ambassador for international exports, said in an interview. Economically and politically, he added, Ukraine is “a critical issue.”There were a few exceptions. Supporters of Ukraine opened their own storefront space on the main promenade and staged several events each day to draw attention to the conflict. The technology company Palantir and its chief executive, Alex Karp, hosted Ms. Goldberg and other parents of hostages for events and interviews.Waiting for the arrival of Mr. Zelensky at the Ukraine House in Davos on Tuesday.Gian Ehrenzeller/EPA, via ShutterstockSeveral governments sent leaders to Davos in an attempt to quietly advance back-channel diplomacy in Ukraine or Gaza. That was true of the Biden administration, which sent Secretary of State Antony J. Blinken and Jake Sullivan, the White House’s national security adviser, to Davos for a flurry of meetings centered on Gaza.In an interview on Wednesday, Ms. Goldberg said she was grateful for all efforts to bring her son and the other hostages home. She wore “103” taped to her sweater, which represented the number of days since her son had been taken.In Davos, Ms. Goldberg was sharing a house with other parents of hostages. “I walked out this morning and here, you know, you have these, like, gorgeous views and beautiful mountains,” she said. She said she had turned to another mother and said: “It’s so beautiful. It’s perverse.”But, she added a moment later: “I’m very grateful that I’m here. Because I am having access to people that I would never have access to. And the goal is to save Hersh’s life, and everyone who is there, their lives. I can only do that if we have access to people who have power. And that’s people who are here.”Reporting was contributed by More

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      More Than Words: 10 Charts That Defined 2023

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      Some years are defined by a single event or person — a pandemic, a recession, an insurrection — while others are buffeted by a series of disparate forces. Such was 2023. The economy and inflation remained front of mind until the war in Gaza grabbed headlines and the world’s attention — all while Donald Trump’s […] More

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      ¿Qué le espera a la economía global en 2024?

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      Con dos guerras persistentes y la incertidumbre de 50 elecciones nacionales, la inestabilidad financiera podría agravarse en todo el mundo.Los ataques al tráfico marítimo indispensable en los estrechos del mar Rojo por parte de una decidida banda de militantes en Yemen —una repercusión de la guerra entre Israel y Hamás en la franja de Gaza— le está inyectando otra dosis de inestabilidad a una economía mundial que está batallando con las tensiones geopolíticas en aumento.El riesgo de escalada del conflicto en Medio Oriente es la última de una serie de crisis impredecibles, como la pandemia del COVID-19 y la guerra en Ucrania, que han ocasionado profundas heridas a la economía mundial, la han desviado de su curso y le han dejado cicatrices.Por si fuera poco, hay más inestabilidad en el horizonte debido a la oleada de elecciones nacionales cuyas repercusiones podrían ser profundas y prolongadas. Más de dos mil millones de personas en unos 50 países —entre ellos India, Indonesia, México, Sudáfrica, Estados Unidos y los 27 países del Parlamento Europeo— acudirán a las urnas el año entrante. En total, los participantes en la olimpiada electoral de 2024 dan cuenta del 60 por ciento de la producción económica mundial.En las democracias sólidas, los comicios se están llevando a cabo en un momento en que va en aumento la desconfianza en el gobierno, los electores están muy divididos y hay una ansiedad profunda y constante por las perspectivas económicasUn barco cruza el canal de Suez en dirección al mar Rojo. Los ataques en el mar Rojo han hecho subir los fletes y los seguros.Mohamed Hossam/EPA, vía ShutterstockUna valla publicitaria anunciando las elecciones presidenciales en Rusia, que tendrán lugar en marzo.Dmitri Lovetsky/Associated PressWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More

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      Red Sea Shipping Halt Is Latest Risk to Global Economy

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      Next year could see increasing volatility as persistent military conflicts and economic uncertainty influence voting in national elections across the globe.The attacks on crucial shipping traffic in the Red Sea straits by a determined band of militants in Yemen — a spillover from the Israeli-Hamas war in Gaza — is injecting a new dose of instability into a world economy already struggling with mounting geopolitical tensions.The risk of escalating conflict in the Middle East is the latest in a string of unpredictable crises, including the Covid-19 pandemic and the war in Ukraine, that have landed like swipes of a bear claw on the global economy, smacking it off course and leaving scars.As if that weren’t enough, more volatility lies ahead in the form of a wave of national elections whose repercussions could be deep and long. More than two billion people in roughly 50 countries, including India, Indonesia, Mexico, South Africa, the United States and the 27 nations of the European Parliament, will head to the polls. Altogether, participants in 2024’s elections olympiad account for 60 percent of the world’s economic output.In robust democracies, elections are taking place as mistrust in government is rising, electorates are bitterly divided and there is a profound and abiding anxiety over economic prospects.A ship crossing the Suez Canal toward the Red Sea. Attacks on the Red Sea have pushed up freight and insurance rates.Mohamed Hossam/EPA, via ShutterstockA billboard promoting presidential elections in Russia, which will take place in March.Dmitri Lovetsky/Associated PressEven in countries where elections are neither free nor fair, leaders are sensitive to the economy’s health. President Vladimir V. Putin’s decision this fall to require exporters to convert foreign currency into rubles was probably done with an eye on propping up the ruble and tamping down prices in the run-up to Russia’s presidential elections in March.The winners will determine crucial policy decisions affecting factory subsidies, tax breaks, technology transfers, the development of artificial intelligence, regulatory controls, trade barriers, investments, debt relief and the energy transition.A rash of electoral victories that carry angry populists into power could push governments toward tighter control of trade, foreign investment and immigration. Such policies, said Diane Coyle, a professor of public policy at the University of Cambridge, could tip the global economy into “a very different world than the one that we have been used to.”In many places, skepticism about globalization has been fueled by stagnant incomes, declining standards of living and growing inequality. Nonetheless, Ms. Coyle said, “a world of shrinking trade is a world of shrinking income.”And that raises the possibility of a “vicious cycle,” because the election of right-wing nationalists is likely to further weaken global growth and bruise economic fortunes, she warned.A campaign rally for former President Donald J. Trump in New Hampshire in December.Doug Mills/The New York TimesA line of migrants on their way to a Border Patrol processing center at the U.S.-Mexico border. Immigration will be a hot topic in upcoming elections.Rebecca Noble for The New York TimesMany economists have compared recent economic events to those of the 1970s, but the decade that Ms. Coyle said came to mind was the 1930s, when political upheavals and financial imbalances “played out into populism and declining trade and then extreme politics.”The biggest election next year is in India. Currently the world’s fastest-growing economy, it is jockeying to compete with China as the world’s manufacturing hub. Taiwan’s presidential election in January has the potential to ratchet up tensions between the United States and China. In Mexico, the vote will affect the government’s approach to energy and foreign investment. And a new president in Indonesia could shift policies on critical minerals like nickel.The U.S. presidential election, of course, will be the most significant by far for the world economy. The approaching contest is already affecting decision-making. Last week, Washington and Brussels agreed to suspend tariffs on European steel and aluminum and on American whiskey and motorcycles until after the election.The deal enables President Biden to appear to take a tough stance on trade deals as he battles for votes. Former President Donald J. Trump, the likely Republican candidate, has championed protectionist trade policies and proposed slapping a 10 percent tariff on all goods coming into the United States — a combative move that would inevitably lead other countries to retaliate.Mr. Trump, who has echoed authoritarian leaders, has also indicated that he would step back from America’s partnership with Europe, withdraw support for Ukraine and pursue a more confrontational stance toward China.Workers on a car assembly line in Hefei, China. Beijing has provided enormous incentives for electric vehicles.Qilai Shen for The New York TimesA shipyard in India, which is jockeying to compete with China as the world’s largest manufacturing hub.Atul Loke for The New York Times“The outcome of the elections could lead to far-reaching shifts in domestic and foreign policy issues, including on climate change, regulations and global alliances,” the consulting firm EY-Parthenon concluded in a recent report.Next year’s global economic outlook so far is mixed. Growth in most corners of the world remains slow, and dozens of developing countries are in danger of defaulting on their sovereign debts. On the positive side of the ledger, the rapid fall in inflation is nudging central bankers to reduce interest rates or at least halt their rise. Reduced borrowing costs are generally a spur to investment and home buying.As the world continues to fracture into uneasy alliances and rival blocs, security concerns are likely to loom even larger in economic decisions than they have so far.China, India and Turkey stepped up to buy Russian oil, gas and coal after Europe sharply reduced its purchases in the wake of Moscow’s invasion of Ukraine. At the same time, tensions between China and the United States spurred Washington to respond to years of strong-handed industrial support from Beijing by providing enormous incentives for electric vehicles, semiconductors and other items deemed essential for national security.A protest in Yemen on Friday against the operation to safeguard trade and protect ships in the Red Sea.Osamah Yahya/EPA, via ShutterstockThe drone and missile attacks in the Red Sea by Iranian-backed Houthi militia are a further sign of increasing fragmentation.In the last couple of months, there has been a rise in smaller players like Yemen, Hamas, Azerbaijan and Venezuela that are seeking to change the status quo, said Courtney Rickert McCaffrey, a geopolitical analyst at EY-Parthenon and an author of the recent report.“Even if these conflicts are smaller, they can still affect global supply chains in unexpected ways,” she said. “Geopolitical power is becoming more dispersed,” and that increases volatility.The Houthi assaults on vessels from around the world in the Bab-el-Mandeb strait — the aptly named Gate of Grief — on the southern end of the Red Sea have pushed up freight and insurance rates and oil prices while diverting marine traffic to a much longer and costlier route around Africa.Last week, the United States said it would expand a military coalition to ensure the safety of ships passing through this commercial pathway, through which 12 percent of global trade passes. It is the biggest rerouting of worldwide trade since Russia’s invasion of Ukraine in February 2022.Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics, said the impact of the attacks had so far been limited. “From an economic perspective, we’re not seeing huge increase in oil and gas prices,” Mr. Vistesen said, although he acknowledged that the Red Sea assaults were the “most obvious near-term flashpoint.”Uncertainty does have a dampening effect on the economy, though. Businesses tend to adopt a wait-and-see attitude when it comes to investment, expansions and hiring.“Continuing volatility in geopolitical and geoeconomic relations between major economies is the biggest concern for chief risk officers in both the public and private sectors,” a midyear survey by the World Economic Forum found.With persistent military conflicts, increasing bouts of extreme weather and a slew of major elections ahead, it’s likely that 2024 will bring more of the same. More

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      Can an ‘Anarcho-Capitalist’ President Save Argentina’s Economy?

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      Carlos Prieto, Rachelle Bonja and M.J. Davis Lin and Marion Lozano and Listen and follow The DailyApple Podcasts | Spotify | Amazon MusicWarning: this episode contains strong language.With Argentina again in the midst of an economic crisis, Argentine voters turned to Javier Milei, a far-right libertarian who has drawn comparisons to Donald J. Trump.Jack Nicas, who covers South America for The New York Times, discusses Argentina’s incoming president, and his radical plan to remake the country’s economy.On today’s episodeJack Nicas, the Brazil bureau chief for The New York Times.In his first decree as president of Argentina, Javier Milei cut the number of government ministries from 18 to nine.Sarah Pabst for The New York TimesBackground readingArgentina’s incoming president is a libertarian economist whose brash style and embrace of conspiracy theories has parallels with those of Donald J. Trump.Argentina braces itself for an “anarcho-capitalist” in charge.There are a lot of ways to listen to The Daily. Here’s how.We aim to make transcripts available the next workday after an episode’s publication. You can find them at the top of the page.Jack Nicas More

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      Argentina se prepara para un presidente ‘anarcocapitalista’

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      Javier Milei ha dicho que la sociedad es mejor sin Estado. Ahora está a punto de dirigir el de Argentina.Javier Milei se dio a conocer al público argentino como un personaje combativo de la televisión, con un peinado rebelde y una proclividad a insultar a sus críticos. Por eso, cuando el año pasado anunció su candidatura a las elecciones presidenciales de Argentina, muchos lo consideraron un actor secundario.El domingo fue electo como el próximo presidente de Argentina, y ahora tiene la misión de sacar a una de las mayores economías de América Latina de una de sus peores crisis.Muchos argentinos se despertaron el lunes ansiosos, otros esperanzados, pero prácticamente todos tenían dudas sobre lo que les espera.Quizá la única certeza sobre el futuro político y económico del país era que, en tres semanas, un outsider político de extrema derecha con escasa experiencia en la función pública tomará las riendas de un gobierno que se ha comprometido a trastocar.En otras palabras, es el momento Donald Trump de Argentina.Milei, economista libertario y diputado novato, dejó claro en su discurso de victoria del domingo que actuaría con rapidez para modificar el gobierno y la economía. “La situación de la Argentina es crítica”, dijo. “Los cambios que necesita nuestro país son drásticos. No hay lugar para el gradualismo”.Los mercados aplaudieron su elección, y las acciones y bonos argentinos subieron en las bolsas estadounidenses (el mercado argentino estaba cerrado por un feriado). Incluso sin tener claro lo que puede lograr, los mercados parecen considerarlo una mejor apuesta económica que sus predecesores, en su mayoría de izquierda.Las políticas económicas fracasadas —incluidos el gasto excesivo, las medidas comerciales proteccionistas, la asfixiante deuda internacional y la impresión de más pesos para pagarla— han llevado al país de 46 millones de habitantes a una caída económica en picada.La inflación anual ha superado el 140 por ciento, la tercera tasa más alta del mundo, dejando a muchos argentinos dispuestos a gastar o convertir sus pesos a dólares estadounidenses o criptomonedas tan rápido como les sea posible, mientras que el creciente número de pobres del país hace fila en los bancos de alimentos y comedores de beneficencia.Personas recogiendo productos descartados frente al mercado central de Buenos Aires. La inflación anual ha superado el 140 por ciento; es la tercera tasa más alta del mundo.Tomas Cuesta/Getty ImagesPara solucionarlo, Milei ha propuesto convertir la 22ª economía del mundo en un laboratorio de ideas económicas radicales que en gran medida no se han probado en ningún otro lugar.Milei, de 53 años, ha dicho que quiere recortar el gasto y los impuestos, privatizar empresas estatales, eliminar 10 de los 18 ministerios federales, pasar las escuelas públicas a un sistema de vouchers, hacer que el sistema público de asistencia a la salud esté basado en seguros, cerrar el banco central y sustituir el peso argentino por el dólar estadounidense.Se identifica como “anarcocapitalista”, que, según ha dicho, es una corriente libertaria radicalmente librecambista que cree que “la sociedad funciona mucho mejor sin Estado que con Estado”.Ahora es el jefe del Estado.“Este es un escenario completamente nuevo en el que nunca hemos estado”, dijo María O’Donnell, periodista política y locutora de radio argentina. “Milei tiene estas ideas tan extravagantes que nunca hemos visto aplicadas en ningún lugar del mundo”.Ha habido poco consenso entre los economistas sobre el mejor camino a seguir para Argentina, pero pocos habían sugerido el enfoque de Milei antes de que llegara a la escena; y pocos saben qué esperar ahora que estará a cargo.El lunes por la mañana, Milei empezó a tambalear en algunas de sus promesas electorales. En una entrevista radiofónica, afirmó que la legislación argentina le impediría privatizar la salud y la educación. En otra, cuando se le preguntó por su plan para utilizar el dólar estadounidense, respondió que “la moneda que se elija es la moneda que elijan los argentinos”.¿Qué significa eso? “No estoy seguro de que lo sepa”, dijo Eduardo Levy Yeyati, economista y profesor argentino.Levy Yeyati lo interpretó como una señal de que Milei se propondría en primer lugar eliminar la mayoría de las restricciones al comercio de divisas, que el gobierno argentino ha impuesto como parte de su esfuerzo por apuntalar el valor del peso argentino. Otros comentarios de Milei el lunes parecieron apoyar esa idea.El Banco Central de Argentina en Buenos Aires. Milei ha dicho que le gustaría sustituir el peso argentino por el dólar estadounidense.Agustin Marcarian/Reuters“Argentina ha sido históricamente un laboratorio de ideas extrañas”, dijo Levy Yeyati, pero muchas de ellas nunca se llevan a la práctica debido a la realidad económica y política.Dijo que cree que ocurrirá lo mismo con Milei, al menos al principio. “Habrá un chequeo de realidad”, dijo. “Se seguirá hablando de la mayoría de estas propuestas, pero será difícil ejecutarlas en el primer año”.Se espera que Milei tenga que llegar a acuerdos políticos para llevar a cabo sus planes, ya que su partido, con dos años de existencia, apenas controla el 10 por ciento de los escaños del Senado y el 15 por ciento de los de la Cámara de Diputados.Lo más probable es que para gestionar muchos de esos acuerdos se valga de Mauricio Macri, expresidente de Argentina, un conservador que ha mantenido un amplio control sobre un gran partido político. Ambos se reunieron el domingo por la noche.Fernando Iglesias, diputado de ese bloque conservador, dijo que él y sus colegas estaban deseosos de ayudar a Milei a arreglar el país. “Es cierto que tiene el hándicap de la inexperiencia”, añadió, “pero tengo la esperanza de que pueda armar un equipo razonable de gobierno y hacer los cambios que necesita el país”.Aunque muchas de las personas clave de la campaña de Milei carecen también de experiencia de gobierno, ellas lo han presentado como una ventaja, no como un inconveniente, y los votantes han estado de acuerdo.Una persona que casi con toda seguridad tendrá influencia en el nuevo gobierno es la hermana de Milei, Karina Milei, que dirigió su campaña y a quien él ha descrito como su asesora más importante.En una entrevista televisiva de 2021, llegó a compararla con Moisés, la figura bíblica portadora del mensaje de Dios. “Kari es Moisés”, dijo con lágrimas en los ojos. “Yo soy el divulgador, nada más”.Karina Milei ha sido un enigma en Argentina, siempre presente al lado de Milei pero sin hablar casi nunca en público. No se sabe mucho de su pasado, más allá de informes no confirmados en los medios de comunicación argentinos de que estudió relaciones públicas en la universidad, dirigió un negocio de cupcakes y fue copropietaria de una tienda de neumáticos. La campaña de Milei dijo que ella ayudaría en la transición.La hermana de Javier Milei, Karina, saliendo de un hotel de Buenos Aires el lunes. Ella dirigió la campaña de su hermano y se espera que también lo haga con la transición.Luis Robayo/Agence France-Presse — Getty ImagesMilei anunció el lunes que su ministro de Justicia sería Mariano Cúneo Libarona, un abogado convertido en comentarista de televisión que saltó a la fama por defender a famosos, incluido el representante de la estrella del fútbol Diego Maradona en un caso de drogas en 1996.Su nueva ministra de Relaciones Exteriores, Diana Mondino, economista, declaró a la prensa que uno de los principales objetivos del gobierno en política exterior sería poner fin a la mayoría de las regulaciones sobre importaciones y exportaciones. También dijo que Argentina probablemente no entraría en el club BRICS de naciones emergentes, como se había anunciado en agosto.“No entendemos, con la información pública de la cual se dispone ahora, cuál sería la ventaja para Argentina”, dijo a los periodistas en el mitin de la victoria de Milei el domingo. “Si ustedes me pueden explicar a mí qué son las BRICS, aprovecho y aprendo”.La compañera de fórmula de Milei, Victoria Villarruel, ha pasado gran parte de su carrera dirigiendo una organización que reconoce a las víctimas de atentados perpetrados por guerrillas izquierdistas, que los militares argentinos utilizaron como justificación de su sangrienta dictadura de 1976 a 1983.Villarruel, que procede de una familia de militares argentinos, lleva mucho tiempo asegurando que se han exagerado las atrocidades de la dictadura, al afirmar que desaparecieron 8500 personas, a pesar de que los archivos desclasificados muestran que incluso los militares admitieron, a solo dos años de su gobierno, que la cifra era de 22.000.Villarruel y Milei fueron elegidos juntos para la Cámara de Diputados de Argentina en 2021, los dos primeros escaños que consiguió su partido, La Libertad Avanza.Milei ha pasado poco tiempo en el Congreso desde entonces, y propuso su primer proyecto de ley apenas a principios de este mes, al pedir al gobierno que haga más para traer a casa a los aproximadamente 25 argentinos retenidos como rehenes por Hamás.Simpatizantes de Milei celebrando en Buenos Aires el domingo por la noche. Los argentinos estaban aturdidos el lunes al pensar sobre lo que Milei podría traer, tanto lo positivo como lo negativo.Adriano Machado/ReutersEn todo el país, los argentinos estaban aturdidos el lunes al pensar sobre lo que Milei podría traer, tanto bueno como malo.Micaela Sánchez, de 31 años, actriz y profesora de teatro, dijo que ella y muchos amigos estaban preocupados por las promesas de Milei de modificar el gobierno, su historial de ataques a adversarios políticos y sus comentarios restando importancia a las atrocidades de la dictadura.“Es realmente un panorama desolador y aterrador para todas las personas que trabajamos en la cultura, que trabajamos con gente, para quienes educamos, para quienes están en salud”, comentó. “Lo único que puedo decir es que estoy muy asustada y muy triste”.Pero Yhoel Saldania, de 27 años, propietario de una tienda, dijo que mantener a Argentina como está habría sido mucho más arriesgado que apostar por Milei. “Los otros gobiernos prometen y prometen, y nada cambia”, dijo. “Queremos un cambio de verdad”.Jack Nicas es el jefe de la corresponsalía en Brasil, que abarca Brasil, Argentina, Chile, Paraguay y Uruguay. Anteriormente reportó de tecnología desde San Francisco y, antes de integrarse al Times en 2018, trabajó siete años en The Wall Street Journal. Más de Jack Nicas More

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      Javier Milei’s Presidential Win Is Argentina’s Donald Trump Moment

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      Javier Milei has said that society is better without government. Now he is about to run Argentina’s.Javier Milei was first introduced to the Argentine public as a combative television personality with an unruly hairdo and a tendency to insult his critics. So when he entered Argentina’s presidential race last year, he was viewed by many as a sideshow.On Sunday, he was elected Argentina’s next president, and is now tasked with guiding one of Latin America’s largest economies out of one of its worst economic crises.Many Argentines awoke on Monday anxious, others hopeful, but just about everyone was uncertain about what lay ahead.Perhaps the only certainty about the country’s political and economic future was that, in three weeks, a far-right political outsider with little governing experience was set to take the reins of a government that he has vowed to upend.In other words, it is Argentina’s Donald Trump moment.Mr. Milei, a libertarian economist and freshman congressman, made clear in his victory speech on Sunday that he would move fast to overhaul the government and economy. “Argentina’s situation is critical,” he said. “The changes that our country needs are drastic. There is no place for gradualism.”Markets cheered his election, with Argentine stocks and bonds rising on U.S. exchanges (the Argentine market was closed for a holiday). Even without clarity on what he can accomplish, markets appear to view him as a better economic bet than his mostly leftist predecessors.Failed economic policies — including overspending, protectionist trade measures, suffocating international debt and the printing of more pesos to pay for it — have sent the nation of 46 million people into an economic tailspin.Annual inflation has surpassed 140 percent, the world’s third highest rate, leaving many residents rushing to spend or convert their pesos to U.S. dollars or cryptocurrencies as quickly as they can, while the country’s growing number of poor increasingly line up at food banks and soup kitchens.People collecting discarded produce outside the central market in Buenos Aires. Annual inflation has surpassed 140 percent, the world’s third highest rate.Tomas Cuesta/Getty ImagesTo fix it, Mr. Milei has proposed turning the world’s 22nd largest economy into a laboratory for radical economic ideas that have largely been untested elsewhere. Mr. Milei, 53, has said he wants to slash spending and taxes, privatize state companies, eliminate 10 of the 18 federal ministries, move public schools to a voucher system, make the public health care system insurance-based, close the nation’s central bank and replace the Argentine peso with the U.S. dollar.He identifies as an “anarcho-capitalist,” which, he has said, is a radically free-market strain of libertarianism that believes “society functions much better without a state than with a state.”Now he is the head of the state.“This is a completely new scenario we’ve never been in,” said María O’Donnell, an Argentine political journalist and radio host. “Milei has these very extravagant ideas we’ve never seen implemented anywhere in the world.”There has been little consensus among economists over the best path ahead for Argentina, but few had suggested Mr. Milei’s approach before he arrived on the scene — and few know what to expect now that he is in charge.On Monday morning, Mr. Milei already began to wobble on some of his campaign pledges. In one radio interview, he said Argentine law would restrict him from privatizing health care and education. In another, when asked about his plan to use the U.S. dollar, he responded that “the currency we adopt will be the currency that Argentines choose.”What does that mean? “I’m not sure he knows,” said Eduardo Levy Yeyati, an Argentine economist and professor.Mr. Levy Yeyati interpreted it as a sign that Mr. Milei would first aim to eliminate most restrictions on trading foreign currencies, which the Argentine government has restricted as part of its effort to prop up the value of the Argentine peso. Mr. Milei’s other comments on Monday appeared to support that idea.The Central Bank of Argentina in Buenos Aires. Mr. Milei has said he would like to replace the Argentine peso with the U.S. dollar.Agustin Marcarian/Reuters“Argentina has historically been a laboratory for weird ideas,” Mr. Levy Yeyati said, but many are never implemented because of economic and political realities.He said that he believes the same will happen with Mr. Milei, at least at first. “There will be a reality check,” he said. “Most of these proposals will still be talked about, but it will be hard to implement them in the first year.”Mr. Milei is expected to have to make political deals to carry out his plans, as his two-year-old political party controls just 10 percent of the seats in Argentina’s Senate and 15 percent in its lower house of Congress.He will most likely broker many of those deals with Mauricio Macri, Argentina’s former president, a conservative who has retained broad control over a large political party. The two met on Sunday night.Fernando Iglesias, a congressman from that conservative bloc, said that he and his colleagues were eager to help Mr. Milei fix the nation. “It’s true that he has the handicap of inexperience,” he added, “but I’m hopeful that he can put together a reasonable governing team to make the changes the country needs.”While many key people in Mr. Milei’s campaign also lack much governing experience, they have pitched that as an asset, not a liability, and many voters agreed.One person who will almost certainly have influence in the new government is Mr. Milei’s sister, Karina Milei, who ran his campaign and whom he has described as his most important adviser.In a 2021 television interview, he even compared her to Moses, the biblical figure bearing the message of God. “Kari is Moses,” he said with tears in his eyes. “I’m the one spreading the word.”Ms. Milei has been an enigma in Argentina, always present at Mr. Milei’s side but almost never speaking publicly. Not much is known about her past, beyond unconfirmed reports in the Argentine news media that she studied public relations in college, ran a cupcake business and co-owned a tire shop. Mr. Milei’s campaign said she would help run the transition.Mr. Milei’s sister, Karina Milei, leaving a hotel in Buenos Aires on Monday. Ms. Milei ran her brother’s campaign and is expected to run the transition.Luis Robayo/Agence France-Presse — Getty ImagesMr. Milei announced Monday that his justice minister would be Mariano Cúneo Libarona, a lawyer turned television pundit who rose to prominence defending celebrities, including in a 1996 drug case when he represented the soccer star Diego Maradona’s manager.His new foreign minister, Diana Mondino, an economist, told reporters that one of the government’s main foreign policy goals was to end most regulations on imports and exports. She also said that Argentina would likely not enter the BRICS club of emerging nations, as had been announced in August.“We don’t understand, with the public information available now, what the advantage would be for Argentina,” she told reporters at Mr. Milei’s victory rally on Sunday. “If you all can explain to me what the BRICS are, I’ll take advantage and learn.”Mr. Milei’s running mate, Victoria Villarruel, has spent much of her career running an organization that recognizes victims of attacks carried out by leftist guerrillas, which Argentina’s military used as justification for its bloody dictatorship from 1976 to 1983.Ms. Villarruel, who comes from an Argentine military family, has long claimed that the atrocities of the dictatorship have been overstated, claiming that 8,500 people disappeared despite declassified records showing that even the military admitted, just two years into its rule, that the number was 22,000.Ms. Villarruel and Mr. Milei were elected to Argentina’s lower house of Congress together in 2021, the first two seats for their Liberty Advances party.Mr. Milei has spent little time in Congress since, proposing his first bill just earlier this month, calling on the government to do more to bring home the roughly 25 Argentines held hostage by Hamas.Supporters of Mr. Milei celebrating in Buenos Aires on Sunday night. Argentines were reeling on Monday with what Mr. Milei could bring, both good and bad.Adriano Machado/ReutersAcross the country, Argentines were reeling on Monday with what Mr. Milei could bring, both good and bad.Micaela Sánchez, 31, an actress and drama teacher, said she and many friends were worried by Mr. Milei’s pledges to overhaul the government, his history of attacking political adversaries and his comments downplaying the atrocities of the dictatorship.“It’s really a bleak and frightening panorama for all of us who work in culture, who work with people, for those who educate, and for those in health care,” she said. “The only thing I can say is that I’m very scared and very sad.”But Yhoel Saldania, 27, a shop owner, said keeping Argentina as it is would have been far riskier than taking a bet on Mr. Milei. “The other governments promise and promise, and nothing ever changes,” he said. “We want a change that’s real.” More

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      Argentina Elects Javier Milei in Victory for Far Right

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      Argentina’s next president is a libertarian economist whose brash style and embrace of conspiracy theories has parallels with those of Donald J. Trump.Argentines on Sunday chose Javier Milei, a far-right libertarian who has drawn comparisons to Donald J. Trump, as their next president, a lurch to the right for a nation struggling under an economic crisis and a sign of the enduring strength of the global far right.Mr. Milei, 53, an economist and former television personality with virtually no political experience, burst onto the traditionally closed Argentine political scene with a brash style, an embrace of conspiracy theories and a series of extreme proposals that he says are needed to upend a broken economy and government.Mr. Milei drew 56 percent of the vote, with 95 percent of the ballots counted, defeating Sergio Massa, Argentina’s center-left economy minister, who had 44 percent. Mr. Massa, 51, conceded defeat even before official results were released.Mr. Milei has pledged to slash spending and taxes, close Argentina’s central bank and replace the nation’s currency with the U.S. dollar. He has also proposed banning abortion, loosening regulations on guns and considering only countries that want to “fight against socialism” as Argentina’s allies, often naming the United States and Israel as examples.In his victory speech, he attacked the political “caste” that he says has enriched themselves at the expense of average Argentines, saying “today is the end to Argentine decadence.” But he also offered an olive branch.“I want to tell all Argentines and all political leaders and all those who want to join the new Argentina: You’re going to be welcome,” he said. More