Argentina, a South American country, was once one of the richest countries in the world and an important partner of China in Latin America. However, in recent years, the Argentine economy has been in deep trouble, with inflation, fiscal deficits, accumulation of foreign debt, and social unrest plunging the country into an unprecedented crisis.
In October 2023, Milley won *** as an opposition, promising to save the Argentine economy with a "shock**", but his series of radical measures have sparked greater controversy and opposition, and even led to a diplomatic crisis with neighboring countries.
In the face of such a situation, can China, as a friendly country and strategic partner of Argentina, take this opportunity to strengthen cooperation with Argentina in the fields of economy, trade, culture, science and technology, and provide support and assistance for Argentina's economic recovery and social stability?
Milley is a prominent Argentine economist who served as economy minister in the 1990s and introduced a series of market-oriented reforms, including a one-to-one fixed exchange rate between the peso and the dollar, and the privatization of state-owned enterprises and public services. These reforms have alleviated Argentina's inflation and fiscal deficit to some extent, but have also led to the over-financialization and external dependence of the Argentine economy, as well as cuts in social welfare and public investment.
In 2001, Argentina experienced a severe economic crisis that led to a sharp devaluation of the peso, the collapse of the banking system, the default of international debt, and social unrest. Milley faded out of the ** because he was considered one of the main culprits of the crisis.
In 2023, Milley will re-emerge as an opposition and run for **. His campaign slogan was "Break or Stand", and he promised to save the Argentine economy with "shock**", that is, a series of radical measures, including the abolition of the central bank, the introduction of total dollarization, the elimination of sectors, the reduction of spending, the privatization of the public sector and state-owned enterprises, the liberalization of the exchange rate, the abolition of import controls, etc.
He believes that these measures can restore Argentina's international credibility, attract foreign investment, stimulate economic growth, reduce inflation, and solve the problem of fiscal deficit and external debt. However, Milley's "shock**" did not receive widespread support from the Argentine public and political circles, but instead sparked greater controversy and opposition.
On the one hand, these measures are considered an infringement on Argentina's sovereignty and democracy, a deprivation and oppression of the Argentine people, and a negation of Argentine history and culture. On the other hand, these measures are also considered impractical and unsustainable, further damage to the Argentine economy and increased risks, as well as a trigger for further ** and unrest in Argentine society.
As a result, Milley's "shock**" has met with strong opposition from all walks of life in Argentina, including trade unions, social organizations, opposition parties, intellectuals, courts, etc. There were even some Argentine provinces and localities that refused to implement Milley's policy, and there were serious confrontations and conflicts with them.
China and Argentina are friendly strategic partners, and their relations and cooperation have a profound historical foundation and broad prospects for development. It has been 50 years since the establishment of diplomatic relations between the two countries, during which the two countries have carried out extensive exchanges and cooperation in the political, economic, cultural, scientific and technological fields, and have achieved fruitful results.
On the political front, the two countries have exchanged frequent high-level visits, political mutual trust has been strengthened, and the two sides have firmly supported each other on issues concerning each other's core interests and major concerns. Argentina has always adhered to the one-China principle, while China has always supported Argentina's legitimate claim to sovereignty over the Malvinas Islands.
The two sides are staunch supporters of multilateralism and maintain close communication on issues such as international anti-epidemic cooperation, global governance reform and climate change bilaterally and within multilateral frameworks such as the United Nations, the WHO, the WTO and the G20.
In terms of economy, the cooperation between the two countries has been deepened, the economic complementarity has been continuously enhanced, and the fields of cooperation have been expanded. China has become Argentina's second largest partner and third largest investor. In 2020, the bilateral ** amount between the two countries reached 140500 million US dollars, 40.1 billion US dollars, 19. 00 million US dollars, investment stock in Argentina 19$9.3 billion.
The two sides have carried out a series of major cooperation projects in the fields of infrastructure, energy, agriculture, aerospace and nuclear energy, providing strong support for Argentina's economic development and social welfare. The two sides also signed a memorandum of understanding on jointly promoting foreign trade construction, which has provided new opportunities and impetus for bilateral cooperation.
In terms of fighting the epidemic, China can continue to provide medical supplies and vaccine assistance to Argentina, support Argentina in strengthening epidemic prevention and control and the construction of the public health system, and help Argentina defeat the epidemic at an early date. The two sides can also strengthen cooperation in vaccine research and development, production and distribution, and promote the establishment of a global anti-epidemic cooperation mechanism to safeguard global public health security.
On the economic front, China can continue to provide financial support and debt relief to Argentina to help Argentina stabilize its exchange rate and financial markets and restore economic confidence. The two sides can also strengthen investment cooperation in the fields of infrastructure, energy, agriculture, digital economy, and green development under the framework of foreign trade, so as to promote Argentina's economic transformation and sustainable development.
In terms of culture, China can continue to carry out multi-level, multi-field and multi-form people-to-people exchanges with Argentina, enhance mutual understanding and friendly feelings between the two peoples, and lay a solid foundation of public opinion for the development of China-Argentina relations. The two sides can also take advantage of the opportunity of the China-Arab Year of Friendship and Cooperation to hold more activities in the fields of culture, education, tourism, and sports to showcase the cultural charm and achievements of cooperation between the two countries.
Although Argentina's economic crisis and social turmoil have brought certain challenges to the development of Sino-Arab relations, it has also provided new opportunities for the deepening of Sino-Arab cooperation.
As a friendly country and strategic partner of Argentina, China has the ability and willingness to strengthen cooperation with Argentina, provide support and assistance for Argentina's economic recovery and social stability, and create more opportunities for the future development of China-Argentina relations. It is believed that with the joint efforts of both sides, the China-Arab comprehensive strategic partnership will continue to reach a new level, bring more benefits to the two peoples, and make greater contributions to regional and world peace and development.