Something unfamiliar is spreading in Argentina: optimism. The impact of President Javier Milei’s dramatic economic reforms has exceeded expectations, even as Milei has maintained popular support. But there is now so much enthusiasm that it raises the risk of irrational exuberance, especially given the scale of the challenge ahead.
Name-calling among Latin America’s leaders has reached the level of schoolyard smears and taunts, but with far more significant implications. It has resulted in recalled ambassadors and crumbling diplomatic relations. And it has made the longstanding dream of regional integration seem more distant than it has been in decades.
Last month, Colombia announced it will apply for BRICS membership, and Argentina formally requested to become one of NATO’s global partners. Ten years ago, both of those statements would have sounded absurd. But while they are a sign of Latin America’s changing diplomatic alliances, it would be a mistake to read too much into them.