The Heat: South America Economy

Argentina faced an extreme economic crisis last year with an inflation rate over 200%. Public discontent with the economy vaulted Javier Milei to the presidency. A self-declared anarcho-capitalist, Milei made deep cuts in government spending and was able to reduce inflation.  Meanwhile in Brazil, government spending and lack of trust from investors devalued the local currency. The Brazilian Real lost 20% of its value in 2024 making it the worst performing major currency in the world. #Heat #Economy #Milei #Argentina #Brazil Joining the discussion:  Gilson Schwartz is a professor of economics at the University of Sao Paulo.  Gustavo Ribeiro is founder and Editor-in-Chief of The Brazilian Report.  Inaki Martinez Soria is a political analyst and founder of E-Wire. Martin Redrado is a Senior Leadership Fellow at the Adam Smith Center, at the Florida International University and former president of the Argentina's Central Bank. Watch CGTN LIVE on your computer, tablet or mobile https://cgtnamerica.vhx.tv/videos/hd-live-broadcasts Subscribe to CGTN America on YouTube Follow CGTN America: Twitter: @cgtnamerica Facebook: @cgtnamerica Instagram: @cgtnamerica TikTok: @newstoks This material is distributed by MediaLinks TV, LLC on behalf of CCTV. Additional information is available at the Department of Justice, Washington, D.C.