Not long ago, Argentina’s president could still be cast as an economic wunderkind. Today it is clear the opposite is true. He inherited a poor and broken country, managed to deepen every problem he touched, and is now completing the cycle with an act that amounts to economic treason. He is handing over Argentina’s vast mineral wealth to the United States — in exchange for support to keep himself in power.
But what, then, was he supposed to do?
For a start, he could have built domestic Argentine capacity to mine and process lithium and copper. He could have laid the foundations for new factories capable of turning those resources into finished products. And if Argentina lacked enough experts — which is likely — he could have invited foreigners. But as employees of Argentine firms, not as owners.
Right now Argentina has a remarkable opportunity. Germany’s industrial base is faltering, and thousands of skilled technicians are looking for a future. Where else might they turn if not to a country like Argentina? That could have been leveraged tremendously. At the same time, Argentina would have needed to ensure that these newcomers did not become a new ruling caste — and to invest seriously in the professional development of its own people.
It is, in principle, irrelevant whether such an effort was driven by state enterprises or by Argentine private capital. As a right-of-center politician, Milei would naturally prefer the private sector, and that is perfectly legitimate — provided the state could set firm boundaries and prevent strategic assets from being sold off to foreign interests.
Of course, this path would have required sustained, disciplined work. The people in charge would need genuine competence, a willingness to endure setbacks, and a measure of stubborn resolve. It would also mean that an Argentine president pursuing such a course would not be popular abroad. A prosperous, self-reliant Argentina is the last thing many outsiders want. This is a task for a very different type of leader — not for an influencer waving a gold-painted chainsaw.
Argentina is still waiting for someone like that. So is the Czech Republic.