The BRICS has long been the focus of global attention because it represents the rise of emerging economies and the formation of a multipolar world. However, it is surprising that Argentina has chosen to refuse to join the BRICS and has also announced that it will fully dollarize. This act has sparked widespread controversy and speculation. This article will discuss this topic and analyze the reasons and implications behind it.
In August of this year, at the BRICS summit in South Africa, Argentina successfully obtained the approval to enter the BRICS organization. This is the reward of Argentina's efforts over the years and an important milestone in gaining international recognition. However, in the past three months, Argentina has changed its attitude and decided to refuse to join the BRICS. This move caused an uproar on the international stage and shocked countries around the world.
Argentina has been trying for years to implement a policy of de-dollarization, trying to get rid of the control and influence of the dollar, a move that is evident in its ** and in the financial sector. Argentina and China's ** preferential use of RMB for settlement, and even use RMB to repay the US dollar debt due. In addition, Argentina and Brazil are in discussions to promote a single currency within South America, the South American dollar. This series of actions shows Argentina's gradual alienation from the dollar.
Once the economic leader of South America, Argentina has become a developed country with its livestock and crop farming. However, with the advent of the 20th century, especially after the Great Depression, the United States rose and reaped Argentina repeatedly. Argentina's economy is gradually declining, and the problem of inflation has become the norm, **constant**, and the exchange rate continues**. At the moment, the official exchange rate of the Argentine peso against the US dollar is only 00028, which shows the seriousness of the exchange rate problem.
In the face of economic difficulties and the pressure of the dollar, Argentina's new ** Milley and his selected * * * chief have expressed a cold attitude towards the BRICS. Milley even opted for full dollarization as a response, hoping to revive the economy by merging with the dollar. This move has caused a series of controversies and discussions in Argentina, and people are full of expectations and worries about the new economic policy.
Argentina's decision to opt for full dollarization will undoubtedly have far-reaching consequences for its economy. On the one hand, full dollarization means that Argentina will become more dependent on the dollar, which is a challenge for both exchange rate issues and international competitiveness. On the other hand, Argentina's efforts through a de-dollarization policy could be in vain, and the country faces economic uncertainty. In addition, full dollarization could raise the risk of inflation and economic instability.
Argentina's reverse choice has sparked concern and reflection on BRICS. The expansion of the BRICS organization is of great significance to enhance the status and influence of emerging economies, and Argentina's withdrawal will pose certain challenges to the development of the BRICS organization. At the same time, the de-dollarization trend in Argentina and other countries reflects the current instability of the international financial system and the urgency of reform.
Argentina's decision to refuse to join the BRICS and opt for full dollarization has sparked widespread discussion and concern. This move has not only had an impact on the international stage, but has also created challenges and uncertainties for Argentina's economic and financial sector. We need to think deeply about the issues reflected in this incident, the role of emerging economies in the international economic order, and how to better cope with the impact of globalization and financialization.
As a self-editor, observing and researching international affairs is my daily job. Argentina's refusal to join the BRICS and its choice of full dollarization is a subject worth studying and thinking about for me. In my opinion, the development of the BRICS organization is inseparable from the rise of emerging economies, and Argentina's withdrawal will have a certain impact on the future development of the BRICS. Argentina's de-dollarization tendency also reflects the imbalance and instability of the international financial order, which requires the international community to work together to promote reforms. For me personally, this event reminds us to pay attention to the changes and trends in international affairs, as well as to give full play to our observation and analysis skills to deepen our understanding and knowledge of the world.