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The rise and extinction of the middle class in Argentina

RIO DE JANEIRO, BRAZIL - In 1934, Carlos Gardel premiered 'Cuesta abajo', a tango full of pessimism in which he spoke of "the shame of having been" and "the pain of no longer being".

Eighty-eight years later, that lament finds greater meaning: according to the World Bank, 51% of Argentines were part of the middle class before the pandemic. One year later, and due to the economic collapse, that average is 44%, making 1.7 million people poor.

The deterioration is long-standing in a country that has gone through successive crises and whose economy has been stagnant for a . . .

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