'The Western world is at risk': Milei, an Argentine 'anarcho-capitalist,' advises Davos elites to oppose socialism.

• On Wednesday, Javier Milei, President of Argentina, urged business and political leaders at Davos to abandon socialism and instead support "free enterprise capitalism" in order to alleviate global poverty.
• In a special address at the World Economic Forum in Davos, Switzerland, Milei stated that the Western world is facing a threat, as translated from the original speech.
• Since taking office last month, Milei's trip to Davos is his first overseas tour.

On Wednesday, Javier Milei, the president of Argentina, urged business and political leaders to abandon socialism and instead support "free enterprise capitalism" in order to alleviate global poverty.

In a special address at the World Economic Forum in Davos, Switzerland, Milei stated that the Western world is facing a threat, as translated from the original speech.

He stated that the values of the West are endangered because those responsible for defending them are being influenced by a worldview that inevitably leads to socialism and poverty.

Since taking office last month, Milei's trip to Davos is his first overseas tour.

The right-wing leader, who identifies as an "anarcho capitalist" and is often compared to former U.S. President Donald Trump, reportedly stated on his way to Switzerland that he was attending the meeting to promote freedom.

According to Reuters, Milei criticized Davos for its "socialist agenda," which he believed would lead to misery for the world, while traveling to the Swiss resort town via commercial jet.

The annual WEF meeting's central theme is "Rebuilding Trust," with a focus on open and constructive dialogue between policymakers, business leaders, and civil society.

In Davos, Klaus Schwab, the founder of WEF, introduced Milei to the stage and praised his "more radical methods" for bringing a new spirit to Argentina.

Collectivist experiments are not the solution to global problems, but rather their root cause, according to Milei, who stated that the main leaders of the Western world have abandoned the model of freedom in favor of different versions of collectivism.

"No one is better placed than us Argentines to testify to these two points," he added.

The challenges facing Milei's presidency are significant, especially considering that Latin America's third-largest economy is once again in a profound crisis.

The inflation rate in South America has reached 211%, its highest level in 32 years, while 40% of Argentines now live in poverty.

Milei has stated that his "shock therapy" is the only solution to the problem. He has suggested dollarizing the economy, abolishing the central bank, and privatizing the pension system.