Alec Hogg’s Davos moments: Milei challenges WEF elites, advocates Argentina’s economic model

Key topics.Javier Milei challenges WEF elites, denouncing "sickly wokism."Argentina's economic turnaround showcased as a model for global leaders.Historical parallels drawn with Mandela's transformative Davos moment.Pic above by Greg Beadle.Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here..The seventh BizNews Conference, BNC#7, is to be held in Hermanus from March 11 to 13, 2025. The 2025 BizNews Conference is designed to provide an excellent opportunity for members of the BizNews community to interact directly with the keynote speakers, old (and new) friends from previous BNC events – and to interact with members of the BizNews team. Register for BNC#7 here..If you prefer WhatsApp for updates, sign up to the BizNews channel here..By Alec Hogg.During a round of golf years ago, a good friend dubbed himself "Number Two" because after invariably messing up his first attempt at hitting the ball, he delivered a near-perfect shot next time. Perhaps it's time that it should become my own WEF nickname. .With family commitments elsewhere, I missed Argentina president Javier Milei's speech last year. Number Two, however, was special. I arrived early and got a great seat ahead of his address this morning. He surpassed even my own lofty expectations. .From what I have been told, Milei cut a lonely figure last year. .The newly elected leader of a hyper-inflated, economically collapsed, globally irrelevant Argentina told delegates his country represented the Western World's "ghost of Christmas Future". For the most part, it fell on deaf ears. .A lot can happen in 12 months. .This time, when introducing Milei WEF president Borge Brende gushed. He enthused how a few months back, he'd called in on Buenos Aires with a group of 50 business leaders seeking ways to invest in the rebounding country. He teed-up Milei's address as a highlight of WEF25, pointing to a massive transformation effected by the libertarian economist..Milei did not repay the compliment. .In a half-hour speech I intend revisiting often, he continuously told off the WEF as being a promoter of what he describes as the "barbaric culture of sickly wokism". He praised "the amazing Elon Musk" and,, to the horror of the some in the elite gathering, referenced Ayn Rand. His overriding message to others in positions of power: abandon the failed system embedded during the past 40 years and choose "a new way of doing politics – telling people the truth to their faces and trusting that they will understand.".Some will dismiss it as populism. But those arrogant assertions lack credibility when the facts of a stunning economic turnaround are laid on the table. For me it is an overdue jolt to a system that desperately needs it. A system largely run largely by the innumerate driving idealistic narratives while being immunised from the consequences others are forced to bear. .Argentina's success has seen Milei's profile change from oddity to economic rock star. Supporting a timeless fact on whose foundation the great businesses (and countries) of tomorrow will be built: there truly is nothing more powerful than the truth. Rock on Mr M. .The other reason for my new WEF moniker goes back to being similarly absent at another important first act, but lucking out at Number Two. .The start of my relationship with the Forum reaches back to a period (1992-94) as economics editor at the national broadcaster. Like most South Africans, back in January 1992 I had no idea the WEF existed. Then Nelson Mandela, FW de Klerk and Mangosuthu Buthelezi chose Davos as the venue where shared a stage for the first time. It showed telegraphed the reality of a new democracy that was being born. .Such was the global impact of that historic meeting that the next year, the WEF invited two South African editors to attend. It was at that event in 1993 where I first met many ANC leaders who would play such pivotal roles in coming decades. Among them the late Tito Mboweni, Labour Minister in Mandela's Administration and subsequently, a successful SARB Governor..Davos Moments being created – pic by Greg Beadle..Tito told me the real story of how Madiba's economic views did a 180 in the wake of that famous Alpine visit in 1992. He arrived as a hard-line socialist determined to nationalize anything that moved. But returned as an economic pragmatist, evangelizing how free enterprise was the key to economic growth needed to uplift and empower our people..Many in the West, including numerous corporate leaders within and outside SA, have privately claimed credit for the SA first democratic president-in-waiting's astonishing economic transformation. Tito shared how, in truth, it came from Mandela's own cell-time hero, Vietcong general Vo Van Kiet. One of the world's most celebrated military leaders, Van Kiet became Vietnam's prime minister from 1991 to 1997. .It was the Vietnam PM's voice that Mandela heard. The man now revered as Vietnam's "great economic reformer" was simple: don't follow the socialist example which hurt us so much. Leapfrog straight to free enterprise which I have been driving and iwhich is the reason for Vietnam's globally admired economic success. .Madiba listened to his icon. As a result, South Africa's future path altered. While the social-engineered idiocy has delivered a dismal recent performance, SA's economy remains far better than where it would have ended had that fateful 1992 WEF meeting not happened. To the massive benefit of all in the Beloved Country. Lest we forget. .On the same track, dare we hope Cyril Ramaphosa can undergo a Madiba-like transformational moment? Perhaps even as a result of his appearance here this week? .Unlikely, but not impossible. .I have no idea whether Cyril got to talk to Milei. Or if he did, whether the GNU's captain nodded dutifully or listened with deserved attentiveness. In the way Mandela did to Vo Van Kiet. .But what we do know is there was a common connection. .Government's communication service distributed pics from Davos showing Ramaphosa meeting Ukrainian president Vladimir Zelensky. And Zelensky definitely did get together with Milei. Taking a chunk out of his schedule to engage and almost certainly learn from the Argentinian. .Here's how I know this. .Yesterday I braved the (understandably) heavy security cordon at Ukraine House to attend an update on the war and hear an argument that WW3 has already started – with the Ukrainians on the front line of freedom and democracy. Something Zelensky does his best to ensure is not taken for granted in the west. .This excellent update session lasted an hour. On conclusion, the 50 or so of us in an increasingly stuffy room were told to please wait another 10 minutes. For "security reasons"..Those 10 minutes ended up being almost an hour and a half. The "security reasons" were due to a meeting in the room immediately below us (and hence en route to the exit) where Zelensky was with Milei. As it lasted far longer than initially expected, the obvious conclusion is that their chat went well. Just maybe Zelensky passed on some pearls of the gleaned wisdom when he met CR. .In his powerful WEF Plenary address today, Milei wrapped up with a message to all world leaders: Follow Argentina's example, he urged, and embrace freedom by rejecting the tyranny that has failed so dismally. He ended with the now trademark shout of "Long Live Freedom, dammit." Which, in our terms, would be "Viva, freedom, viva." Quite. .Read also:.BN Briefing: Zelensky on possible peace deal, Javier Milei on China and US global AI SuperpowerAlec Hogg's Davos Moments: From Ramaphosa's fizzle to AI's sizzleLessons from Argentina: Javier Milei at Davos

Alec Hogg’s Davos moments: Milei challenges WEF elites, advocates Argentina’s economic model

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