Javier Milei Won the Argentina Presidential Election. Now He s Backpedaling. – WSJ

He has jettisoned some top economic advisers who were enlisted to help him kill the central bank and adopt the U.S. dollar as the national currency. He has aligned instead with officials from a previous center-right government that he previously derided. No one said eliminating the central bank was going to be instantaneous, he said Sunday.

After promising to cut ties with China he had referred to the communist regime as assassins he has since exchanged cordial words with Beijing. China is Argentina s top buyer of soy, and Argentina is Latin America s third-largest recipient of Chinese state-bank loans in South America. 

Even his tone has shifted from talk-show personality to stoic voice of reason. He acknowledged the transition from nearly two decades of leftist Peronist governments to his vision of unfettered capitalism could take longer than expected. His moderation comes as powerful labor unions and social movements are lining up against him. Violent street protests have brought down Argentina presidencies in the past.

A spokesman for Milei declined requests for comment.

via www.wsj.com

I hope he still gets rid of their central bank. That’s crucial.