Argentine businessmen are sizing up Javier Milei, a mop-haired libertarian promising shock therapy to stabilize the hyperinflation-racked country. The charming tree-lined city of Mendoza, located in western Argentina, is fast becoming a Napa-style mecca for wine-buffs and foodies from across Latin America. The region’s vineyards are watered by snowmelt from the Andes mountains, providing an alluring backdrop for those dreaming of buying a vineyard in the southern hemisphere. The industry survived decades of Peronist interventionism and failed stabilization efforts, mostly due to a fortuitous hedge: when the peso weakens, exports go up; when it strengthens, more bottles sell at home. However, despite the pro-business environment in Mendoza, some vintners harbor reservations about whether Milei’s remedies will work. If you’re considering an oenological fantasy in Argentina, it’s worth talking to Patricio Santos, whose father pioneered Malbec exports, to gain insight into the challenges of winemaking in the country.
Source: www.economist.com