Argentina**When Milley took office, he quickly embarked on a series of radical reforms to achieve thisEconomyof the revival. Not only did it drastically cut state institutions, but it also proposed a policy of fully embracing dollarization. However, this radical reform has brought enormousEconomyTurmoil, ArgentinaCurrencyThe peso has depreciated by a staggering 54 percent. The inflation problem is also starting to worsen severelyEconomyStuck in trouble. In the face of such a difficult situation, whether Argentina should turn to China has become a topic of great concern.
Before coming to power, Milley vowed to embrace the United States and stay away from China and Brazil. However, the fact that China and Brazil are Argentina's top three partners is a rather puzzling statement. Argentina's attempt to break off cooperation with its partners and expand its export markets on the one hand does not seem feasible. Whether Argentina will be able to export all of its exports to the United States is also questionable, especially given the current US interest rate hikes and declining consumption levels. Whether Milley's actions can really save ArgentinaEconomyStill doubtful.
Argentina has long faced the problem of a deficit, with a deficit of 43 in the first half of this year$8.7 billion. PlusForeign exchange reservesFacing depletion, Argentina'sEconomyCaught in a state of severe instability. In order to ensureForeign exchange reservesArgentina even had to borrow Chinese to repay the loan. However, Milley's aggressive policies after coming to power ledCurrencyThe depreciation has accelerated, leading to a large withdrawal of foreign capital. Now Argentina wants to borrow the yuan to stabilizeEconomyThis approach seems a bit too idealistic. Milley's first step was to break with the ChineseCurrencyswap agreements, accelerated themselvesCurrencyThe pace of devaluation.
Whether Argentina should seek assistance from China will require a reassessment of Milley's policies. Maintaining faith is an important factor in national cooperation. However, Milley's previous statements towards China and Brazil have been unfriendly and suspicious. If Milley's policies go wrong, how will Argentina respond?The foundation of cooperation between Argentina and China is the stability of relations between the two countries, but Milley's actions may have some impact on the relationship between the two countries. Argentina needs to think seriously about the choice now, either embrace the United States or cooperate with China, not one moment like this, one moment like that, this is not a fair approach for either side.
ArgentineEconomyThe dilemma needs to be resolved, and Sino-Arab cooperation may be a viable option. However, under Milley's leadership, Argentina's attitude towards China is not clear, and there are also fidelity issues. If Argentina only cooperates with short-term interests and does not consider long-term development, the prospects for Sino-Arab cooperation may be affected.
Middle-AhmadCurrencyThe basis of the swap is the cooperative relationship between the two countries. If Milley fails to maintain a stable policy stance, Sino-Arab relations will also be affected by instability. Cooperation needs to be based on mutual trust, and it remains to be seen whether Argentina has that trust.
In short, Argentina is facing a serious situationEconomyproblem, a solution needs to be sought as soon as possible. Sino-Arab cooperation may be a viable option, but it also needs to consider Milley's policies and attitudes. Argentina should think hard and take stable and reliable measures to achieve thisEconomyof the revival.