A revolt against red tape is sweeping much of the world. President Donald Trump is determined to deregulate America’s economy. From Buenos Aires and Delhi to Brussels and London, many other leaders share his desire to get rid of rules that strangle their economies. Even Vietnam’s Communists have a plan to shrink the bureaucracy. Done right, the anti-red-tape revolution could usher in greater freedom, faster economic growth, lower prices and new technology. But Mr Trump’s impulse to demolish essential functions of government before reinstating the ones he likes risks giving deregulation a bad name. The question is how to make reform bold enough to count, but coherent enough to succeed. One example to follow is Argentina. Javier Milei, the president, came into office having spent 18 months working out how to extract the government from areas where it did not belong. Once in power, he wasted no time in using bold strokes to reset expectations about the economy. His example can help Europe and America get deregulation right.