(MENAFN- The Rio Times) (Opinion) Javier Milei's victory in Argentina's presidential election represents a significant political shift in South America.
This shift sees a departure from the region's recent trend of leftist governance.
With Milei's win , the continent's political landscape will now include four right-leaning governments.
Before Milei's rise to power, nine of the twelve South American countries were under leftist rule.
This balance was largely influenced by Luiz Inácio Lula da Silva's presidency in Brazil.
However, Milei's inauguration on December 10 will change this dynamic, resulting in eight left-leaning and four right-leaning governments across the continent.
It highlights the political changes in South America between 2019 and November 2023.
This period saw significant shifts, with elections in Ecuador and Argentina playing a crucial role.
South America Gets More Balanced
The last four years have been transformative for South America. Argentina, Ecuador, and Uruguay moved from left-leaning to right-leaning leadership.
In contrast, Bolivia, Brazil, Chile, Colombia, and Peru saw the rise of leftist presidents.
Economically, the division is stark.
World Bank dat shows that left-leaning governed countries amassed $3.5 trillion in regional production in 2022.
Right-leaning nations, namely Ecuador, Paraguay, and Uruguay, accumulated a total of $227.95 billion.
Brazil remains the economic powerhouse of South America, contributing over half of the region's output.
In 2022, Brazil's GDP stood at $1.9 trillion. Argentina, under leftist rule in 2019 and the second-largest economy on the continent, accounted for 13.3% of the regional GDP.
By 2022, its share increased to 18%.
Argentina is also a significant trade partner for Brazil. In the previous year, trade between the two countries resulted in a $2.24 billion balance in Brazil's favor.
Milei's win over Sergio Massa, the Peronist candidate, marks a pivotal moment in Argentine politics.
It ends a period of Peronist dominance in Argentine elections over the last two decades.
With 98.43% of the vote counted, Milei secured 55.74% of the valid votes, a clear majority over Massa's 44.25%.
Milei's victory is not just about a change in Argentina's political direction.
It symbolizes a broader shift in South American politics, challenging the recent dominance of left-leaning ideologies.
His presidency could herald a new era for the continent, with potential implications for both domestic and regional politics.
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