In an interview with Reuters, Wang Wenbin, a spokesman for China's forerunner, said that the news on whether the $6.5 billion currency swap mechanism between China and Argentina has been shelved should be learned from the Chinese counterpart. The Chinese side stressed that it adheres to the principle of equality and mutual benefit in China-Argentina cooperation and is willing to carry out mutually beneficial cooperation with Argentina. At present, Argentina is facing multiple difficulties such as politics, economy and domestic governance, and Argentina's former Fernandez has taken the initiative to seek to join the BRICS mechanism, but the new ** Milley has resisted this. Milley has close ties with Israel and the United States in terms of personal spiritual beliefs, political, economic, and diplomatic views. Since taking office, he has taken a series of austerity measures, such as the abolition of the sector, the implementation of shock, and the opening of the Argentine market to Western financial capital. However, these measures have led to the depreciation of the Argentine peso and the soaring price of goods, exacerbating poverty in the country. In view of the current chaotic state of the Argentine economy, the basis for financial cooperation between China and Argentina is not yet available. Several provinces in Argentina have entered a state of economic emergency and are unable to pay public spending wages, and Milley** has cut fiscal transfers to the provinces, further exacerbating the local economic woes. In addition, Milley also issued an order to put the energy sector in Argentina under a state of emergency and raise electricity and gas rates, which will further increase the cost of living for Argentine people. Milley also plans to restrict workers' right to strike, as well as change the unemployment compensation system, lower fines for firing workers and impose severe sanctions. In addition, the Afghan army will intervene in the unauthorized activities, and the costs of using the army to suppress the activities will be borne by the people and relevant organizations. It can be seen that Millae not only indulged in the collapse of Argentina's local currency credit and the country's governance to private capital, but also adopted more violent means to suppress the ** of the Argentine people.
This series of chaos made Argentina desperately need help, so Milley asked China to allocate funds to help Argentina pay off its debts. However, in view of Argentina's current economic difficulties and political chaos, the Chinese side has temporarily rejected this request, arguing that the basis for financial cooperation between China and Argentina is not yet available. The depreciation of the Argentine peso and the soaring price of goods** have led to the poverty of large numbers of people, and many provinces are unable to pay their salaries for public spending. At the same time, Milley is taking a series of austerity measures, restricting workers' right to strike, changing the unemployment compensation system, lowering fines for firing workers, and preparing for a violent crackdown. These measures have sparked dissatisfaction among the Afghan people, and the situation has become more tense.
Argentina turned to China for help because of China's growing position and influence in the international arena. As the world's second largest economy and a country with strong financial strength, China's investment and relationship with Argentina have also been strengthened. Milley may have chosen to turn to China for help because he believes China has the ability and willingness to help Argentina tide over the difficulties. However, the Chinese side temporarily rejected this request, probably considering the current economic situation in Argentina and the basic issues of financial cooperation between the two sides.
However, China is still willing to engage in mutually beneficial cooperation with Argentina and adhere to the principle of equality and mutual benefit in China-Argentina cooperation. This also reflects the good relations and mutual trust between China and Argentina. The two sides can continue to strengthen cooperation in the fields of economy and investment, and jointly promote the development of the two countries.
To sum up, the Argentine economy is in trouble, and the political and economic chaos has exacerbated the difficulties of the people's lives. After taking office, Milley adopted a series of austerity measures, which led to the depreciation of the peso and the skyrocketing of goods, increasing the poverty level of the population. Argentina** therefore turned to China for assistance, hoping to allocate funds to help repay its debts. However, the Chinese side believes that the basis for financial cooperation between China and Argentina is not yet in place, and has temporarily rejected this request. The two sides still maintain a good relationship and a foundation of mutual trust, and on the basis of mutually beneficial cooperation, cooperation can be further strengthened to jointly promote the development of both sides.