☀ Domingo Brief — Argentinean Labor Takes to the Streets
Each Sunday, take two minutes to catch key stories and opportunities shaping Latin America.
Welcome back to the Domingo Brief! This week, we’re looking at Brazil’s growth in number of passengers, Dominican credit lines, Continental’s new Mexican investment, and more.
Trivia of the Week
Two-thirds of you (67%) correctly guessed that when Marshall C. Eakin called Latin America the convergence of three peoples, he was referring to Europeans, Africans, & Native Americans. In his 2007 book The History of Latin America: Collision of Cultures, the renowned historian outlined how the modern region has been constructed over 500 years by the interplay of culture brought by indigenous Native Americans, European colonists and immigrants, and African slaves and their descendants. This is reflected in the region’s political systems, demographics, cuisine, music, dance, and more.
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🇦🇷 Argentina’s largest labor group, the Confederación General del Trabajo (CGT), launched a massive strike on Wednesday as it protested the policy proposals of President Javier Milei. In particular, the CGT’s members opposed the deregulation of the country’s economy, rollback of labor rights, and privatization of 41 state-owned enterprises such as the oil company YPF. They’re also opposed to his ruling by decree.
Latinometrics: Milei has promised a tough hand on protest, promises echoed by Security Minister (and one-time rival) Patricia Bullrich. Sanctions have been proposed for congregations of more than three people, especially when city streets are blocked. Milei also announced that striking state employees would not be paid.
🇧🇷 Brazil saw 112.6M passengers travel by air to, through, and within the country in 2023. This is the highest number seen since the beginning of the pandemic in 2020. It’s also within spitting distance — roughly 5.5M passengers — of the all-time high of 118M passengers seen in 2019.
Latinometrics: Just three massive airlines — LATAM, GOL, & Azul — control basically the entirety of Brazil’s airline industry. The three companies, which each have a fluctuating market share of roughly 33%, have all experienced significant troubles in recent years as the pandemic has forced bankruptcies and restructuring.
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