Bruno Binetti is a non-resident research fellow with the office of the president at the Inter-American Dialogue, based in Buenos Aires. He was previously a research assistant at the Woodrow Wilson Center for International Scholars and has also worked as a legislative aide in the Argentine Congress. Binetti holds a BA in international studies from Torcuato Di Tella University and an MA in international affairs and development from George Washington University’s Elliott School of International Affairs, where he was a Fulbright Scholar. He writes on Latin American political and economic trends and China- Latin America relations and has taught courses at Torcuato Di Tella University and the Catholic University of Argentina.
Few neighbors have such deep and wide-ranging ties as the United States and Mexico. Both countries are bound not only by geography, but also through economic, security and social connections. Despite these strong connections—or perhaps because of them—the bilateral relationship is subject to strong pressures coming from domestic politics in both countries.
Once again, Argentina has become synonymous with crisis. The Argentine peso has already lost half of its value against the dollar this year, and the economy is projected to contract by at least 2 percent while inflation reaches 40 percent. Beleaguered President Mauricio Macri is asking the International Monetary Fund for additional assistant, only three months after finalizing a loan agreement. Not surprisingly, Macri’s domestic popularity has suffered, weakening his re-election prospects next year.
Mauricio Macri has good reason to celebrate: Argentines just gave a strong endorsement to his reform agenda. To capitalize on these results, Macri will need to pick his battles carefully, resolve inconsistencies in his economic program, and show concrete results to maintain the trust of investors and citizens alike.
Both [Bolsonaro and Macri] agree that Mercosur should be a more flexible bloc, where countries have the freedom to negotiate free trade agreements with third countries instead of negotiating together as they have done so far, despite the resistance of industries in both countries.