The BRICS organization has run aground, and the changes in Argentina have aroused heated discussions. The country, once a World Cup winner, is now in financial trouble and has been hailed as a "miracle of decay". In late August this year, the BRICS countries gathered in South Africa for a summit of leaders to discuss the expansion of the BRICS organization, but Argentina was hit by the refusal to join the BRICS, and its development changes have attracted much attention. Argentina's transformation has led to the question: How did this once-wealthy country get into trouble?And what does it mean to de-dollarize?What is the economic logic behind this turning point?If we look back in history, we will find that in the late 19th century, Argentina was a country that exported livestock products, and became a developed country with huge foreign exchange earnings from cowhide and beef. But now, it has become a poor country and its economy is decliningNot so long ago, Argentina announced its refusal to join the BRICS organization and began full-scale dollarization, a move that was seen as a measure to get rid of the hegemony of the dollar. At the same time, the country has also given priority to the use of renminbi for settlement in China**, and even used renminbi to repay a maturing dollar debt.
This series of moves is undoubtedly an indication of Argentina's efforts to weaken the dollar's impact on its economy. Argentina's economic transformation has raised questions about the expansion of the BRICS organization. Before the BRICS summit in August this year, a total of 23 countries applied for the summit, but only six countries were finally approved. This shows the fierce competition to join the BRICS, but Argentina has chosen to go the other way. What exactly does this shift mean?Some believe that Argentina's move may be seeking new ways to develop in response to its economic downturn. The promotion of the dollarization policy and the exchange with the renminbi may be an attempt by the country to get rid of the negative impact of its dependence on the dollar for some time in the past. However, there is also a view that Argentina's move could bring new economic challenges, especially at a time when the global economic system and multilateral centers are undergoing drastic changes. In any case, Argentina's actions have undoubtedly provoked deep reflection on the future development of the BRICS organization. The once-glorious country is now trying to redefine its position in the global economic system through a series of initiatives. The expansion of the BRICS organization will also usher in more attention and thinking.
Perhaps, Argentina's choice will serve as a inspiration for other countries and inspire more emerging countries to find their own development paths in the tide of globalization. And the future of the BRICS organization will become more colorful as a result. In this ever-changing world, every transformation may be pregnant with new possibilities, so let's wait and see what the future holds. Argentina used to be an economic powerhouse in South America, but now it is mired in inflation and exchange rate. Faced with this dilemma, the new ** Milley has proposed a surprising plan: full dollarization. This move has sparked heated discussions and debates from all walks of life. What will the Argentine people choose to do about it?Over the past few decades, Argentina has experienced ups and downs in the economy. Once a developed country with a plantation industry, it also attracted a large number of immigrants due to its economic prosperity. However, after the Great Depression, Argentina's economy gradually declined, and inflation has been plaguing the country. Recent data shows that inflation in Argentina has reached a staggering 140% or more. Soaring prices and persistent exchange rates have plunged Argentina into a severe economic crisis.
Faced with this dilemma, the new ** Milley proposed a plan for full dollarization, hoping to stabilize the domestic economic environment through the full use of the dollar. He also said that Argentina's accession to the BRICS does not make much sense, indicating his adjustment of foreign policy. This unexpected move has sparked heated discussions in all walks of life, and the feasibility and impact of this plan have also been discussed. Is full dollarization an "insurance" or a "gamble" for Argentina?Will this approach be effective in alleviating the inflation problem and saving the country's economy?Or will it bring more uncertainty and risks to the country?These issues have become the focus of debate in all walks of life. The Argentine people will also face an important choice. They voted for a new **, what will they think of Milley**'s comprehensive dollarization plan?Will this initiative be able to gain popular support?These issues will determine the future direction of Argentina. Argentina is at an important crossroads in the face of the economic crisis. The proposal of the new ** has sparked extensive discussion in society, and the future direction of development is still full of uncertainty. However, the people of Argentina will have the opportunity to chart a path for the future of the country through their own choices.
This is not just an economic reform, it is a national choice that will determine the future of Argentina. Argentina, once an economic powerhouse, is facing enormous challenges and opportunities. Can full dollarization become a new opportunity for the country's economic development?All this will be witnessed and decided by the people of Argentina.