OAN’s Abril Elfi
11:44 AM – Wednesday, January 17, 2024
Argentinian President Javier Milei called on political leaders at a Davos World Economic Forum (WEF) meeting to reject socialism and embrace “free enterprise capitalism.”
Milei appeared at the WEF meeting in Davos, Switzerland, where he addressed political leaders and business tycoons, urging them to put a stop to socialism so that the world can more easily combat “poverty.”
Leaders in business, governments, civil society, faith groups, academia and the arts – as well as the global media, were in attendance at the event.
“Today, I’m here to tell you that the Western world is in danger,” Milei said. “And it is in danger because those who are supposed to have to defend the values of the West are co-opted by a vision of the world that inexorably leads to socialism, and thereby to poverty.”
This is the first overseas trip that Milei has taken since taking over presidential office last month.
According to reports, Milei criticized Davos members and the WEF for its “socialist agenda, which will only bring misery to the world.”
The WEF had announced that this year’s program was meant to “rebuild trust” and present a return to the fundamentals of candid and fruitful communication between leaders in business, civil society, and policymakers.
Milei was introduced to the Davos stage by WEF founder Klaus Schwab, who said that his “more radical methods” had “introduced a new spirit to Argentina.”
“The main leaders of the Western world have abandoned the model of freedom for different versions of what we call collectivism. We’re here to tell you that collectivist experiments are never the solution to the problems that afflict the citizens of the world — rather they are the root cause,” Milei said. “Do believe me, no-one [is] better placed than us Argentines to testify to these two points.”
With an annual inflation rate of over 211%, the highest in 32 years, the South American nation’s purchasing power has been severely damaged, and two-out-of-every-five Argentinians are reportedly now living in poverty.
Milei has stated that his suggested “shock therapy” is the only way to address the issue. He has suggested privatizing the pension system, doing away with the nation’s central bank, and “dollarizing” the economy.
When Milei refers to “shock therapy,” he is referencing his own assertion regarding how there is no alternative but to increase inflation before bringing it back down in order to prevent the nation’s poverty rates from rising and to stop the economic collapse of Argentina.
“We’re always worse off because our response has been to attack the consequences but not the problem,” said Economy Minister Luis Caputo in a televised address. “What we’ve come to do is the opposite of what they always did, and that’s solve the root problem.”
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