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When Ideology Meets Inflation, Argentina’s Milei Turns to China

The cry “Cambio! Cambio! Cambio!”  rings out along Calle Florida, the bustling commercial artery of Buenos Aires. Dozens of unofficial money changers—many of them migrants from Chile, Venezuela, and Bolivia—line the street, calling out to passersby. They offer mercado azul, or the “blue market” exchange rates, trading ...
Independent Researcher
When Ideology Meets Inflation, Argentina’s Milei Turns to China
President of Argentina Javier Milei greets Chinese Vice President Han Zheng at the inauguration ceremony for U.S. President Donald Trump on January 20, 2025. (Photo by Chip Somodevilla / POOL / AFP)
The cry “Cambio! Cambio! Cambio!”  rings out along Calle Florida, the bustling commercial artery of Buenos Aires. Dozens of unofficial money changers—many of them migrants from Chile, Venezuela, and Bolivia—line the street, calling out to passersby. They offer mercado azul, or the “blue market” exchange rates, trading euros, dollars, and Brazilian ...