What happened in Argentina after falling from developed countries to developing countries, inflation exceeding 100%?

Argentina's Economic Dilemma: Behind the Boom and Bust

In March 2023, inflation in Argentine society exceeded 104%, and the price of both milk and bread rose significantly. The Argentine government has repeatedly borrowed and repeatedly broken its commitments, resulting in international creditors being reluctant to lend money to Argentina. However, Argentina's economic problems have not aroused much sympathy from the international community.

Argentina's economic development model can be said to be in trouble. When European colonists came to Argentina, they were attracted by the richness of the land. However, Argentina has been dependent on agriculture and livestock, and has not developed modern industry, making the economic growth chart show a "roller coaster curve".

Argentina had profited handsomely from exporting agricultural products and livestock, but the lack of industrialization left Argentina helpless in the face of an international economic crisis. The government has repeatedly promised the people to protect their interests, but the economic crisis has made social welfare programs a burden.

Juan. When Perón was in power, he proposed the theory of "Peronism" in an attempt to solve Argentina's economic problems. However, the policy of big government economic intervention he advocated was inconsistent with Argentina's actual political system, making it difficult to implement the policy. In addition, the Argentine government continues to print money, which exacerbates inflation.

As the stagflation problem in the Western world exploded, Argentina was also mired in it. The loss of foreign trade caused Argentina's social wealth to shrink rapidly, and inflation was exacerbated. The Argentine government began borrowing from international creditors to fill the revenue gap.

However, the debt problem has become a serious problem for the Argentine economy. The government's constant borrowing efforts have not fundamentally solved economic problems, but have temporarily diluted wealth. Argentina's economy is caught in a vicious circle.

Although the inflation rate in Argentine society has reached alarming levels, ordinary people seem to have become accustomed to it. They will hold on until inflation is not high enough to live on. The government had to borrow to maintain people's livelihoods.

Argentina's economic problems remind us that the economic development of a country requires the attention and support of all its citizens. Government regulation and control is only a means, and the broad masses of the people are the main force for economic development. Everyone should take responsibility for economic development and overcome difficulties together.

Although Argentina's economic problems remained serious, with the concerted efforts of its people, Argentina could emerge from its predicament and achieve economic stability and sustainable development. Only by working together as a whole can Argentina's economy move towards a more stable and prosperous future.