On his first day in office, Argentine's new ** Milley wrote a letter to China seeking the first business cooperation funds. The move attracted global attention, and people wondered if Milley would be able to deliver on his promise and passEconomyThe reforms have brought Argentina out of its predicament. However, Milley, who had previously said that he would sever diplomatic relations with China and withdraw from the BRICS organization, now wants to cooperate with China, has raised doubts among some. Milley needs to prove his sincerity and willingness to cooperate with China in order to receive China's support and financial assistance.
On his first day in office, Milley began to take important reform measures, starting with halving the number of ** departments, from 18 to 9. This initiative is aimed at streamlining the organization, improving efficiency and saving on financial expenditure.
And whereasEconomy, Milley took a series of measures to stimulateEconomyDevelop. He lowered the official exchange rate to 800 pesos to the US dollar in order to reduce fiscal spending and improve export competitiveness. At the same time, he canceled all tenders for public works projects and cut subsidies for the energy and transportation sectors. These measures are aimed at stabilizationEconomy, reduce inflation andDebtHaunt.
However, these reforms mean an increase in the cost of living for ordinary people. Due toCurrency depreciation, people's incomes cannot keep up with the rate of inflation, leading to further poverty problems. Although Caputo acknowledged that the situation in the coming months could be more difficult, he believes that this is the only way to tackle inflation and avoid a catastrophic situation.
Milley hopes to secure financial assistance and support through cooperation with China. In his inaugural speech, he expressed his continued supportThe one-China principleand further promote exchanges and cooperation between the two countries in the economic, trade, and people-to-people fields. He also asked China's special envoy Wu Weihua to bring a letter to China after the inauguration ceremony, asking the Chinese side to allow the two countriesCurrency swapsand expand on what was agreed with the Chinese side in the previous sessionCurrency swapsAgreement.
Argentina chose to turn to China for help because of the relationship between the two countriesCurrency swapsAgreement. In 2009 and 2017, China and Argentina signed the agreementCurrency swapsagreement, which enables the parties to proceed directlyCurrency exchange, reducing transaction costs and risks, and increasing Argentine'sForeign exchange reserves。PassedCurrency swapsAs a result of the agreement, Argentina was able to apply for renminbi, ease the financial pressure, and be able to repay on timeDebtto keep your credibility.
However, Milley needs to show China Argentina's sincerity and willingness to cooperate in order to gain China's support. China will not provide financial assistance unconditionally, and needs to see Milai take positive reform measures and maintain friendly and cooperative relations with China.
Millet** turned to China for help shortly after coming to power, showing that Argentina desperately needs external assistance to reviveEconomy。Although in the past, Milley had an unfriendly attitude towards China, but in the face of Argentina severelyEconomyIn a difficult situation, he had to seek cooperation with China.
However, before seeking external assistance, Milley needs to demonstrate his sincerity and determination by taking positive reform measures. It is only through real actions and reform measures that he can win the support and trust of China and other countries.
At the same time, China needs to carefully consider cooperation with Argentina. Whether Argentina's reform measures are effective enough and whether they can be usedEconomyGet out of the way, which will take time to verify. China should ask for Milley to be thereEconomyFurther cooperation can only be considered if substantive results are achieved in the areas of reform, anti-corruption and domestic stability.
For China, cooperation with Argentina carries certain risks. Argentina is oneEconomyDifficult country, politics andEconomyThere is also uncertainty in the environment. Therefore, China needs to carefully choose cooperation projects and take measures accordinglyRisk managementMeasure.
Most importantly, China-Arab cooperation should be equal and mutually beneficial. China should not just be Argentina's money**, but through cooperation to achieve mutual benefit and win-win results. The Chinese side should ask Argentina to take more active measures to attract cooperation with China, such as improvementInvestmentsenvironment, expanding the opening of the market, etc.
In conclusion, Milley's move to seek cooperation with China is understandable, but he needs to prove his sincerity and determination through practical actions. China also needs to carefully consider cooperation with Argentina to ensure that it is safe and sustainable. The two sides should strengthen communication on the basis of the principles of equality and reciprocity and promote the further development of China-Arab cooperation.