Argentina's new president, Millay, announced the implementation of a "shock" to rebuild Argentina's monetary system and repay its foreign debt. However, Milley's request for a currency swap agreement with China to obtain more foreign exchange has not been answered by China. China responded that it is willing to carry out mutually beneficial cooperation with Argentina on the basis of equality and mutual benefit. The word "mutually beneficial" was emphasized in this response, which also hinted at China's position. If Argentina's economy wants to "come back from the dead", it cannot do without China's help. However, before Milley came to power, he made some unfriendly remarks about China, such as severing relations with China and calling China an "assassin". China did not take this too seriously, and sent a congratulatory message to Milley on his election. But now is the stage of real government measures, and Milley's China policy will attract much attention.
China and Argentina are both developing countries and have strong complementarity in foreign trade, and China is a major importer of Argentine agricultural products. Therefore, China's support is crucial for the recovery of the Argentine economy. In its response, the Chinese side did not explicitly state whether it agreed to the currency swap, but stressed the need to cooperate on the basis of equality and mutual benefit. As far as China is concerned, the development of China-Arab relations needs to be based on mutual respect and mutual benefit, and cannot be swayed by momentary rhetoric.
It is worth noting that the Chinese side "seems" to halt the currency swap with Argentina. The move put Argentina under pressure and reminded Milley that he should take China's foreign policy shift seriously. The expert stressed that Argentina's interdependence with China cannot be replaced by countries such as the United States or Europe, and that Millet should have a comprehensive understanding of China and its diplomatic operations. If Argentina loses cooperation with China, it will face great challenges and troubles.
After Milley took office, he repeatedly mentioned strengthening ties with the United States and downplaying economic ties with China, Russia, Brazil and other countries. He also visited the United States as a quasi-** before officially taking office, which was seen as the fulfillment of his commitments. In addition, Milley also stopped negotiations with China on the purchase of "Thunder" fighters jointly developed by China and Pakistan, and confirmed his intention to purchase US F-16 fighters. This series of actions shows Milley's tendency to "tilt" toward the United States.
However, in the case of the urgent need for foreign exchange, Milley ** sent a request to China, hoping to speed up the currency swap and expand the currency swap agreement reached with China in the previous session**. It can be seen that Milley hopes to carry out a currency swap with China as soon as possible and get more foreign exchange support. However, after the previous unfriendly remarks against China and the cancellation of the "fighter plane business" with China, China will naturally not easily swap currencies, which is also a natural reaction.
The word "mutually beneficial" in China's response indicates China's attitude. If Milley completely turns to the United States and then follows up on its China policy, then China will no longer stand in the way and may look for other countries to cooperate. But for Argentina, the loss of China will entail huge losses and will be difficult to make up for these losses. At present, Milley has taken action, and Argentina has also entered the tunnel, but whether the future is bright depends on Milley**'s decision-making and handling.
The relationship between China and Argentina is crucial to Argentina's economic recovery. However, Milley's policy orientation and actions since taking office have brought uncertainty to Sino-Arab relations. Milley's vacillation in China policy and unfriendly remarks against China have led China to suspend currency swaps and remind Argentina that it should take China's position seriously. For Argentina, cooperation with China cannot be replaced by other countries. Milley needs to recognize the importance of the China-Arab relationship and make informed decisions to ensure that Argentina can get the support and cooperation it needs from China to drive economic recovery and development.