Commentary: Javier Milei’s election win and global market implications

"This week, Javier Milei secured an impressive victory in the midterm elections, that places him in a  position to fully deploy a program of market-driven reforms, as together with potential allies from the centre-right, they enjoy an absolute majority in the lower chamber. Yesterday’s elections marked the transition from Milei the outsider to Milei a political leader.

"The victory was surprising to many because it comes at the moment where economic hardship from the strong austerity package is strong.

"Milei’s election has potential precautions at the global level. He has been used as an example by conservatives to push for austerity measures. Moreover, the help from the Trump administration was decisive and it probably marks new approach to geopolitics in which the United States interfere directly to support its allies in regions where it battles for hegemony over China."