On December 10, Argentina ushered in the inauguration of the new ** Milley. The young ** won a lot of attention with a series of crazy remarks during the election campaign, and was even nicknamed "Argentine Trump". He promised to proceedEconomyShock**, the practice of non-**ism, and the radical reform of state institutions, these extreme policies have caused huge controversy in society. At the moment Argentina is in a serious situationEconomyIn the midst of the crisis, inflation was as high as 1427%, with a poverty rate of more than 40% and a huge debt problem. Milley's ascension to power means that Argentina will usher in a major social experiment, and people are full of wait-and-see expectations.
Milley's policy program, though superficially able to improve rapidlyEconomydata, but its long-term impact is highly debated. His plans to cut welfare, privatize state assets, and advocate legalizing gun carrying and organ trafficking have been catastrophic for the lower strata of society. However, the truth is that whenEconomyWhen the data begins to improve, the gains of these reforms will gradually be depleted, leading to even greater disaster. Argentina is heavily indebted and has repeatedly declared bankruptcy, and Milley believes that it can only passEconomyShock**in order to receive financial support. However, such a decision is not only contrary to Milley's previous oneEconomyThe policy proposition has also aroused doubts and incomprehension at home and abroad.
Before taking office, Milley made a "private visit" to the United States, which attracted widespread attention from the outside world. He is in contact with the U.S. Department of the TreasuryInternationalCurrencyThe organization and the World Bank had close conversations, but unfortunately he was unable to meet with Biden. It is clear that the attitude of the United States towards Argentina is very clear, and Wall Street can afford low prices**, but is not willing to provide financial support. This position of the United States forced Milley to face reality, and at the same time made him realize that relying on the United States is unreliable.
However, Milley was not discouraged and played a "hat-trick". Although he has openly stated that he does not cooperate with socialist countries, his attitude towards China and Brazil has been much softer. According to Argentina** (eicanciller), Milley wants to renew his contract with ChinaCurrency swap agreements, he also said that he attaches great importance to relations with China. This move is the same as his previous oneEconomyThere is a clear contradiction in the policy, becauseCurrency swapsIt means reducing dependence on the US dollar, converting US dollar debt into RMB debt, and repaying debt bilaterally. This will not only reduce the cost of both sides, but also help Argentina get out of the predicament of being harvested by the United States. At the same time, for China, Argentina, as a world agricultural power, is known for its beef,Soybeansand mineral resources, which are just in line with China's needs. China has provided Argentina with a large amount of project investment and import demand in recent years, and under the influence of the epidemic and the accelerated harvest of the United States, Argentina has become a countryEconomyThe collapse has brought challenges to China-Arab economic and trade relations. By following the "Belt and Road" initiative, increase the export of beef and minerals, etc., insistCurrency swapsAvoiding dollarization is a no-brainer for both China and Argentina. Milley's change in attitude toward China also shows this.
There is great potential for cooperation between China and Argentina, and the two sides have broad prospects for cooperation in agriculture, energy, infrastructure and other fields. As a major agricultural country in the world, Argentina has abundant beefSoybeansCornand other agricultural resources, and the demand for these products in the Chinese market is very strong. In recent years, China has become Argentina's main beef importer andSoybeansbuyers, the amount of agricultural products between the two countries has grown steadily. Argentina also welcomes Chinese investment in infrastructure projects such as hydropower stations, nuclear power plants, and lithium mines, which can not only promote ArgentinaEconomyDevelopment also helps to improve people's living standards.
InEconomyAgainst the background of the crisis, China signed a contract with ArgentinaCurrency swap agreementsThe initiative is also of great significance. PassedCurrency swaps, which can help Argentina get throughEconomyIn difficult times, alleviate debt pressure and achieve smooth progress for both sides. This model of cooperation has also been applied in other countries, such as China, which has signed similar agreements with countries such as Brazil and South Korea to facilitate bilateral cooperation.
Considering ArgentinaEconomyand with the United StatesEconomyConfrontation and embracing China is undoubtedly a wise choice. Cooperation with China could bring more development opportunities for Argentina, reduce its dependence on the US dollar, and strengthen cooperation with other Latin American countries. Of course, this cooperation also requires Argentina to take effective measures to improve the business environment, reduce policy uncertainty, and provide good investment conditions for Chinese enterprises.
Milley's shift in policy and change in attitude toward China has raised widespread concern. Argentina is facing a serious oneEconomycrisis, and Milley's extreme policy measures in the early days of his administration raised questions in society. During his visit to the United States, his exchanges with the United States received a cold reception, but the prospects for cooperation with China were favored by both sides. By signing with ChinaCurrency swap agreements, Argentina can not only get rid of dependence on the dollar, but alsoEconomyResuscitation support. In addition, in the cooperation between China and Argentina, the two sides have broad prospects for cooperation in the fields of agriculture, energy and infrastructure. As a major agricultural country in the world, Argentina can meet the demand for agricultural products in the Chinese market, and China's investment and technology can promote Argentina's growthEconomyDevelop. Signed by both partiesCurrency swap agreementsIt can reduce the cost and promote the development of the bilateral market.
However, Argentina's cooperation with China also faces some challenges. ArgentinaEconomyThe root causes of the crisis are manifold, including political instabilityNon-performing loansquestions and opaqueEconomypolicies, etc. Solving these problems requires Argentina** to take effective measures to improve the business environment and increase investor confidence. At the same time, Argentina needs to strengthen cooperation with China to improve product quality and competitiveness in order to better enter the Chinese market.
In summary, there is great potential for cooperation between China and Argentina, and the two sides can achieve mutual benefits in the fields of agriculture, energy and infrastructure. By signingCurrency swap agreements, can strengthen the best cooperation and promote both sidesEconomydevelopment. However, the cooperation between the two sides also needs to solve some internal and external challenges, and take effective measures to strengthen cooperation and promote common development.