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One of the things I have to respect about Argentina is that even in a year as awful as 2020 where it feels almost impossible to be taken by surprise by negative business news, Argentina has not disappointed. When Argentina’s government announced the nationalization of soy superpower Vicentin in mid-June, even those of us who are extremely negative on the business and economic outlook of the country were taken aback. And while there have been numerous protests and debates about the legality of such action, the fact of the matter is that Production Minister Matias Kulfas defended the move as part of a “statist vision for the 21st century.”
Argentina’s economic strategy under Kulfas includes a greater role for the state and does not prioritize attracting international investment.