Not long ago, Argentina ushered in a new ** Milley. This unique leader caused an uproar in **, advocating "blowing up the Argentine central bank" and "full dollarization" and other remarks have attracted much attention. However, what is surprising is that before he was officially sworn in after being elected, Milley quickly went to the United States, but was met with a cold reception, and Biden ** avoided meeting with him. At the same time, the infighting between the two parties in the United States has escalated again. According to US media reports, the US House of Representatives, which is dominated by Republicans, passed a resolution on December 13 by 221 votes to 212 to officially launch an investigation into Biden. In fact, the Republican Party in the United States has long been calling for Biden to **, and now that the resolution has passed, it means that it will go all out to search for evidence of the illegal behavior of Biden and his family.
While Milley was receiving a cold reception in the United States, Argentina's domestic political situation was also in turmoil. Faced with multiple difficulties at home and abroad, Milley desperately sought support and turned to China for help. It is reported that Milley has sent a letter to China, asking for support and acceleration of the currency swap between the two countries, and the expansion of the currency swap agreement signed with China in the last **. In June last year, the central banks of China and Argentina renewed the agreement of 130 billion yuan and 4A bilateral currency swap agreement of 5 trillion pesos for a period of 3 years. However, despite the fact that the agreement has not yet expired, Milley is desperate to expand it. At a time when Argentina is mired in multiple difficulties such as high debt and high inflation, the expansion of the agreement means that it will be able to obtain large amounts of money from China, and to some extent avoid a new debt default, which Argentina has repeatedly defaulted on before, making it increasingly difficult to obtain funds from international financing markets.
There are mixed reviews for Milley's move to ask China for help. Some people believe that China should not easily agree, and should ask Argentina to repay its past arrears first. After all, in his recent inaugural address, Milley acknowledged that Argentina could face inflation of up to 15,000 percent a year, saying that Argentina is plagued by poverty and that reforms are difficult to promote. In addition, the new policies introduced immediately after Milley took office led to a depreciation of the Argentine peso by more than 50%. On the whole, some people may think that Milley's move may see China as the "first wrongdoer" after taking office.
Opinions differ on whether China should accede to Milley's request. China's spokesperson Mao Ning revealed the deep meaning in his response on the 13th. He said that China and Argentina are large developing countries and important emerging economies, and are comprehensive strategic partners with good relations. China has always attached importance to China-Arab relations from a strategic and long-term perspective, and is willing to work with Singapore to promote the steady development of the China-Arab comprehensive strategic partnership. This shows that China-Arab relations are good, and China is willing to push forward the development of China-Arab relations. However, there are differing views on whether Argentina has a strong and practical desire.
What is Argentina's sincerity? If sincerity is sufficient and its China policy remains stable, China may be willing to strengthen cooperation. Under the premise of risk control, China's assistance may produce good results. First of all, it will help promote the local currency swap agreement and promote the internationalization of the RMB. At present, there is a wave of "de-dollarization" in the international community, and China's assistance to Argentina shows confidence in the renminbi, which is expected to attract more attention and recognition from the international community. Second, China's kindness and friendliness will help demonstrate its sincere willingness to promote multilateralism, and it is more responsible than other countries that only look at their immediate interests.
In addition, Milley's previous attitude towards China and radical remarks on the "Belt and Road" initiative, if China lends a helping hand, it will also repay grievances with virtue and show the demeanor of a great power, while if Milley insists on being paranoid, he will destroy his image and find it difficult to get support from the outside world.
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