Considering Argentina's social and economic instability, China froze a currency swap agreement of 46 billion, and Argentina ** Milley quickly appointed an ambassador to ChinaDuring this time, the South American country of Argentina is experiencing a violent turmoil, due to the new ** Milley insisted on the implementation of the so-called shock **, Argentina's domestic economy was in turmoil, Milley took office on December 10, 10 days later a large number of people have taken to the streets, and his relationship with China has also had twists and turns. According to a report by Argentina**, Milley has appointed Salvia as the new ambassador to China.
Argentina interpreted Milley's move as a "show of goodwill to China." During the election campaign, Milley made all kinds of malicious remarks about China, and at one point declared that he would stop cooperating with China, and even said that he would stop seeking to join the BRICS.
In the past two days, Argentina** has reported that China has indefinitely shelved the Sino-Arab currency swap agreement worth 46.5 billion yuan, and this amount will not be unsealed until the Argentine side expresses clear goodwill.
Milley took office on December 10, and it has been about ten days now, but it has turned Argentina upside down. Of course, this is an internal affair of Argentina, and it is inconvenient for other countries to bother with it. But while Milley is tossing his own country, he is also trying to stumble on China, so China must show its attitude.
Argentina was originally a South American country with good relations with China, and Argentina's former ** Cristina once famously said: within the G20, if China and the United States do not agree, nothing can be done.
As early as 2009, the currency swap agreement between China and Argentina began, and it has now reached a scale of 130 billion yuan. Since 2023, Argentina** has twice used the renminbi to repay its international debts.
Due to the deterioration of Argentina's domestic economic situation, high international debt and declining credit, the currency swap agreement with China has become one of the most valuable assets of the Argentine central bank.
But what did Milley do during this time?He has said that he will suspend cooperation with China, Brazil, Russia and other countries, and has also said that he will not participate in the BRICS. In addition, Argentina **also** also reported that Argentina had stopped buying Chinese Thunder fighter jets and sought to buy American F-16 fighter jets.
These few things are obviously betting on the United States in Sino-US relations. At the BRICS summit in August 2023, Argentina was one of the six new members confirmed by the summit and was supposed to become a full member on January 1, 2024, but Milley retreated at this time, embarrassing China.
On top of that, China is a rare world power that supports Argentina's claim to the Falklands, but Milley is ready to replace Chinese fighter jets with American fighter jets. Such a lack of credibility has made China suspicious.
Although these rumors have not been confirmed at the moment, China has not had the patience to watch Milley's performance, and has taken decisive action to freeze the currency swap agreement between China and the Arab States.
It is worth mentioning that freezing the currency swap agreement is only China's first step, and if Milley does turn into an anti-China leader or gets too close to the United States, China will not rule out taking follow-up countermeasures.
You know, the Argentine economy is currently in turmoil, the country's main export commodities are agricultural and mineral products, China is the main buyer of these goods, if relations between the two countries deteriorate, orders from China will quickly disappear, which is difficult for the Argentine economy to bear.
Regardless of whether Argentina is in power by the left or the right, the question of "how to make money" must be solved, and it is extremely unwise for Argentina to provoke China as soon as it comes to power.
Of course, a far-right leader like Milley is hard to look at with normal logical thinking. So far, Milley's unfriendliness towards China has only been verbal, and he has not made any further moves.
Milley's appointment of Salvia, who is familiar with Chinese affairs, as the new ambassador to China is, to a certain extent, indeed an indication that he still wants to maintain normal exchanges with China.
China's countermeasures also leave a lot of leeway, and the China-Arab currency swap agreement is only "frozen", not "abolished". Argentina speculates that as long as Milley makes it clear that he will continue to maintain relations with China, China will soon unblock the currency swap agreement and relations between the two countries can return to normal.
To put it simply, China is also listening to his words and watching his deeds, and Milley has only been in office for more than ten days, and everything is still inconclusive.
However, it should be noted that if Milley does continue to carry out the so-called shock**, then the relationship between Argentina and China is likely to be affected.
The so-called shock ** is a kind of far-right economic policy, and its core idea is to cut spending and stop the construction of public works, which alone can easily conflict with China.
China currently has a lot of investment in Argentina's infrastructure sector, and if these investment projects want to be sustained, they must be promoted through cooperation between the countries, but according to the economic proposition of Miledi, these projects led by the first are likely to be stopped, which will directly affect China's interests.
It is difficult to say where China's relations with Argentina will go, and Milley himself is still figuring it out, but one thing is certain: China has brought Argentina an opportunity rather than a threat, goodwill rather than malice, and if Milley turns a blind eye, it will only hurt Argentina itself in the end.
Project Sword