Join in 7 seconds.. Existing users: sign in.

FORUMS

Miami Herald columnist on Argentina

Colombia received more foreign investment last year than Argentina, and Peru received almost as much.

=======================
http://www.miamiherald.com/news/columnists/andres_oppenheimer/story/53...

New president picks too many fights
By ANDRES OPPENHEIMER
Miami Herald, 15 May 2008

When Argentina's President Cristina Fernández de Kirchner won her country's elections last year, I wrote that she was likely to be an improvement over her predecessor and husband Néstor Kirchner. I was wrong.

Five months after taking office, Fernández de Kirchner has been as unable -- or unwilling -- as her husband to take advantage of Argentina's best external economic conditions in recent history to reinsert her country in the world economy. Instead, she has carried on with Kirchner's confrontational style and populist policies, causing meager domestic and foreign investments.

The conventional wisdom in Argentina's political circles is that Kirchner -- officially head of the ruling Peronist party -- is still ruling the country behind the scenes. Political commentators refer to Kirchner as ''co-president,'' or they talk about ''the presidential couple.'' Hopes that Fernández de Kirchner would help mend her country's divisions and improve ties with Washington and Europe have been largely dashed.

Last week, when the United Nations released its annual figures on foreign investment in Latin America, it was hard not to notice Argentina's steady regional decline.

Despite benefiting from nearly 9 percent economic growth thanks to soaring world prices of soybeans and other commodities, Argentina's foreign investments grew by only 14 percent last year. Comparatively, foreign investments in El Salvador grew by nearly 600 percent, Chile by 96 percent, Brazil by 84 percent, Peru by 54 percent, and in conflict-torn Colombia by 40 percent.

NUMBERS

In dollar terms, the figures are just as striking: While Brazil got $34.5 billion in foreign investments in 2007, Mexico $23.2 billion, Chile $14.5 billion and Colombia $9 billion, Argentina received only $5.7 billion, according to the U.N. Economic Commission for Latin America, and most of that was a one-time injection by an oddly named Canadian guy renovating a hotel in Buenos Aires.

Economists say that Peru, a much smaller economy which got $5.3 billion in foreign investment last year, may overtake Argentina this year.

Domestic business confidence runs low. According to a recent poll conducted by the World Economic Forum in 127 countries around the world, Argentina placed 124th -- just above Chad, Venezuela and Zimbabwe -- in its business community's confidence that property rights are well protected by the law.

What's going on in Argentina? Judging from what I saw during a visit there earlier this year and what I heard in various interviews this week, Fernández de Kirchner -- like her husband -- is picking fights with almost everybody.

At home, Fernández de Kirchner's government is lashing out against farmers, who are blocking roads and holding back soybean and rice production since the new president increased soybean export taxes from 35 percent to as much as 44 percent. Fernández de Kirchner accuses farmers of being greedy and oblivious of the poor. But farmers counter that the new taxes are destroying Argentina's top export industry.

INTIMIDATION

In recent days, with her popularity falling, Fernández de Kirchner has lashed out against Argentina's mass circulation daily Clarín, which until recently had a soft spot for the Kirchners. Argentina's freedom-of-the-press groups are protesting what they describe as growing intimidation against the media.

On the foreign front, Fernández de Kirchner reacted with an amazing lack of judgment earlier this year to a U.S. prosecutor's charges that a suitcase with $800,000 in cash carried by Venezuelan businessman Guido Antonini Wilson to Argentina was destined to help fund Fernández de Kirchner's presidential campaign.

Instead of calling for a full investigation, Fernández de Kirchner's joined Venezuelan President Hugo Chávez's government in blaming the whole case on an alleged U.S. conspiracy. At least three of the Venezuelans arrested in Miami have already pled guilty to participating in a Venezuelan-government effort to cover up the alleged campaign donation.

My opinion: To be fair, Fernández de Kirchner cannot be put on the same level of economic or political lunacy as Chávez. She is not nationalizing industries every other week, nor supporting terrorist groups abroad.

But Fernández de Kirchner has failed to realize that the difference among Latin American presidents today is not among rightists and leftists, but among those who make friends -- like those of Brazil, Mexico, Chile, and Peru -- and those who are picking fights all the time, like Chávez.

So far, she has come across as closer to the latter, which has kept Argentina from using its economic momentum to achieve long-term growth and reducing poverty much more rapidly.

By Tinto (Moderator) on May 16, 2008, 07:47 in Off Topic.

billyb says on May 16, 2008, 09:32:

Interesting article Tinto.

miamimike says on May 16, 2008, 09:49:

Tinto--A. Oppenheimer is pretty spot on with this article but he has been, IMO, way off base in many of his other recent articles. This guy is hard to figure out! To his credit he has has personally answered Emails I have sent him which for a journalist is somewhat surprising,,,

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? ... That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.,

slguy says on May 16, 2008, 16:01:

oppenheimer is my favorite columnist. pragmatic and smart.

he's answered my emails, too, mike.

Before you throw me out, make sure I pay my bar tab

miamimike says on May 16, 2008, 17:22:

SLguy-he is way off base as far as his opinion on Illegal Immigration and amnesty. He also blames the Republicans as those not wanting Amnesty when in fact, over 70% of the American Citizens, in a recent poll, also were not in favor of Bush's Amnesty proposals. So a mix if democrats, Republicans and Indys informed their congressional Reps to vote against the Bush Plan. These Amnesty proposals were defeated twice by the will of the American Citizens and if they come up again, will go down a 3rd time.

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? ... That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.,

slguy says on May 16, 2008, 17:39:

mike, i didn't say he's always right - only that he's smart and pragmatic.

even when i disagree w/ him, it's rarely because his position is not well-reasoned. usually just differing perspectives.

Before you throw me out, make sure I pay my bar tab

miamimike says on May 17, 2008, 00:12:

SLguy---I asked him in my emails why he incorrectly kept referring to Illegal Aliens(correct immigration parlance btw) as Undocumented Migrants/Immigrants and he said to label them correctly as I mentioned does the Illegals a disservice as we invited them here and now that they are here, we shouldn't refer to them as Aliens as it is Derogatory and gives people the impression they are from outer space. I think we all know they are not Celestials from another Planet and was quite surprised he used this comparison. LOL I informed him we did NOT invite these Illegals here and that in fact many came here legally and overstayed their Tourist Visa so they are no longer with status and now Illegal Aliens. We did NOT invite these Visa Overstayers(absconders), they went to the US Embassy and filled out Visas forms on their own volition and if they satisfied the Emabssy's req they were granted a Visa. I fail to see how we invited them,,, Even Immigrants who migrate here legally are technically classified as Aliens and receive an Alien Number that follows them throughout their lifetime or at least until they become full US citizens. Hence the term "Resident Alien" for someone who has permenent US Residency. When he keeps referring to those without status as Illeagl Immigrants it is patently incorrect as all Immigrants are here Legally and with Status,,,,

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? ... That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.,

podborski says on May 17, 2008, 13:36:

"and most of that was a one-time injection by an oddly named Canadian guy renovating a hotel in Buenos Aires."

jaja tinto! and for a second I was wondering who that was

nothing gets past me...nothing...

podborski says on May 17, 2008, 13:36:

p.s. I wish it was a 'one time injection' but right now seems more like a permanent flow

slguy says on May 17, 2008, 14:02:

i missed it completely - but wish i hadn't! jajajaja

Before you throw me out, make sure I pay my bar tab

houstongal says on May 17, 2008, 19:29:

Pod...I saw that line and thought of you as well! jajaja! Hopefully sustainability will occur soon!

Culture is language and language is culture - Dr. Annamaria Napolitano

Man Tequila says on May 17, 2008, 19:48:

Podborski's real life name is so much odder.

How's the hotel going? I knew a nurse who just went Argentina. I gave her your info but at the time BzAz was full of smoke from angry farmers, so I think she took off to Iguazu and Rosario.

Aunque no me creas/ si me lo propongo/ lograre olvidarte/ porque a fin de cuentas/ no soy tan cobarde./ Y termino todo una de estas tardes/ no sera dificil buscar algún sitio donde refugiarme/ donde nunca mas vuelvas a encontrarme. (Polo Montañez)

podborski says on May 17, 2008, 22:12:

hi guys!

Well, let's see, it's 1:21 am, I just finished a wine tasting with a few guests. We were able to sit out on the patio as it's about 20C, so for about the 100th day this year I was exclaiming "the climate here is just unbelievable!", to which my californian guests reply, of course, "you're canadian".

Good thing the weather is freakishly warm, as the power company STILL has not hooked me up to anything but 70 year old strands of wire held together by masking tape, which means my heating/air con unit is out of commission.

Honestly, when the smoke hit the city I thought it was fog. Never seen anything like it. It lasted 2 weeks. I had lots of guests cancel and it was a disaster at first. But then a lot of flights were cancelled and so I filled right back up again, sometimes with the same people who ran out on their reservations a few hours earlier.

I swing wildly between thinking this is the greatest job ever and wondering what in the hell was I thinking, really depends on the day (hour) you ask me.

But, all in all, things are pretty great, thanks for asking. Sorry I'm too busy to chat these days...

houstongal says on May 18, 2008, 06:10:

That's OK Pod. We're glad you check in with us periodically and let us know you're still doing OK.

Culture is language and language is culture - Dr. Annamaria Napolitano

slguy says on May 18, 2008, 08:38:

taught that so-called chef how to make a burger yet? ;)

Before you throw me out, make sure I pay my bar tab

podborski says on May 18, 2008, 10:04:

funny you mention that slguy, he made a pretty good one this week. They don't do buns, but we have some good bread that does the trick.

but there is also a new Burger King 4 blocks from here...I confess, I've been a couple of times...

podborski says on May 18, 2008, 10:07:

Hi HG, things are really very good. Business could hardly be better. But as I just said in pow wow's 'gangs' thread, the cafe across from me just got robbed by 2 armed men...in broad daylight...they stole about 200 pesos (60 bucks) and a cellphone.

Hard to stop them, as they wear suits, and ask to come in for a coffee...then once inside the guns come out.

There's not a policeman in sight. Even now, right after it happened, no police anywhere.

What a country...

I'll be spending my earnings from this month on security I guess...

Not that I care about losing 200 pesos of course, and that's all I keep around...but the trauma for the staff and guests for some guys to put guns to their heads...who needs it.

Monpirri says on May 18, 2008, 10:32:

Che Lucas, que tu opinas de esto? A mi parece que le articulo no esta completo.

Annette Taddeo for US Congress 2008

houstongal says on May 18, 2008, 18:33:

Pod - I thought you and the cafe owner were going to split the cost of a security person? I can't believe that happened, especially at that location and they have huge windows so anyone can see inside the place (as we were while they were getting the place set up and ready to open)!

BTW - I didn't read that post so I missed hearing about the robbery.

Culture is language and language is culture - Dr. Annamaria Napolitano