Javier Milei, Argentina’s newly elected president, has decided that the country will not be joining the economic alliance of Brazil, Russia, India, China, and South Africa (BRICS). Instead of formalizing the final decision, Milei reached out to the leaders of these major emerging markets, sending a letter stating that his government would not consider membership into the organization appropriate at this time. He emphasized that the current Argentine foreign policy significantly differs from that of the previous administration, and that decisions made by his predecessors will indeed be reviewed.
Furthermore, Milei announced that he aims to intensify bilateral trade and investment flows, and has stated his readiness to hold meetings with each of the BRICS leaders. The president frequently championed alignment with the “free nations of the West” such as the United States and Israel, while making clear that a partnership with communists was not in the books.
The liberatarian economist and his cabinet have opted for a friendlier approach to China and Brazil, the two of Argentina’s largest trading partners. While maintaining his stance on the BRICS decision, Milei and his government have received backlash following the implementation of a series of reforms to transform the country’s economy, leading to recent protests.
At this current juncture, it is still uncertain if and when Mr. Milei’s campaign promises of eradicating the central bank and converting to the U.S. dollar will be officially set in motion. The president has also caused a stir among his supporters and critics alike, following Argentina’s commitment to the Paris Agreement on climate change, despite his past remarks that opposed it. He has called for greater autonomy and vigilance in the uncertain path the nation finds itself in, as it endeavors to modify and reform a battered economy and resolve the causes that led to the most recent level of conflict and unrest.