After taking office, Argentine Milley adopted a series of economic policies, but instead of leading the country out of the crisis, it caused new problems. His measures, including a sharp devaluation of the national currency and the easing of restrictions on the foreign exchange market, have led to soaring prices in Argentina and a state of economic emergency in several provinces. This has made the situation in Argentina even more chaotic.
In the face of internal and external pressure, Milley hopes to seek assistance from China. He put forward two demands to China: First, he hoped to sign a currency swap agreement and increase the amount of the swapSecond, it hopes that China will provide $5 billion in RMB funds to urgently repay its debts. However, the Chinese side has shelved the currency swap arrangement. Milley's plan fell through.
China's refusal to assist Argentina does not mean that it has abandoned its development relations with that country. China has always been committed to supporting the development of developing countries and providing assistance to the best of its ability. But China takes into account a number of factors when making decisions, including the current situation in the countries it helps.
Milley** is hostile to China, which is a big reason for refusing aid. Milley has said during the campaign and after his victory that he would not strengthen ties with China and would prefer close ties with the United States. He even publicly announced that he would embrace Judaism in order to enlist the support of Biden in the United States. However, he did not receive the expected treatment after his visit to the United States, and Biden was unwilling to even meet him in person, and his ** level was also very low. This left Milley frustrated, and the expected U.S. aid did not materialize.
China's poor friendliness toward Milley and its warm attitude toward the United States have led China to have reservations about providing aid to Argentina. After all, China has always adhered to the principled position of equality and mutual benefit, rather than unconditionally bailing out the people.
Although China rejected the arrangement of a currency swap agreement, it did not mean that it would abandon the development of relations with Argentina. China's willingness to support the development of developing countries naturally includes providing Argentina with all kinds of assistance within its capacity. But this requires Argentina to show concrete actions and plans to attract China.
China has always adhered to the concept of down-to-earth, joint development and win-win cooperation. If Argentina wants to cooperate with China, it needs to take positive actions to attract China's attention. Is Milley able to come up with something that would be of interest to China?"Package", which will determine whether Argentina will be able to receive assistance from China. However, given Milley's style, we have to worry about something even more magical that could follow.
Milley's predicament is not only economic, but also politically and diplomatically. Milley has skewed his attitude toward China and the United States, placing too much emphasis on relations with the United States and ignoring opportunities for cooperation with China. This made it difficult for him to seek assistance.
As a leader of a country, he needs to establish a correct outlook on diplomacy and economy in accordance with his own national interests and development needs. Only by cooperating with other countries on the basis of equality and mutual benefit can we receive real support and help from the source.
For Argentina, economic distress and debt problems remain acute. In the face of assistance from international aid agencies and other countries, support needs to be sought in good faith and with concrete action. Only through our own efforts and reforms can we truly get out of our predicament and achieve economic recovery and national development. As for China, it needs to stick to its principled stance and ensure the rationality and sustainability of aid in order to achieve win-win cooperation between the two sides.