As soon as Argentina's new ** Milley came to power, he immediately fulfilled the promise he made during the election campaign, cut down those ** institutions that he considered a burden, and implemented the so-called "shock **" economic policy. However, judging from the current situation in Argentina, "shock**" did not help in any way, but aggravated the "condition". In less than a month in power, 11 provinces in Argentina have entered a state of economic emergency, while Milley**'s debt problem continues to grow.
Seeing that the situation continued to deteriorate, Milley suddenly reversed his mind on relations with China, and did not want to do business with China, as he said during the election campaign, but immediately asked China for help, hoping that China could open a currency swap arrangement between the two countries and expand the scale of the agreement. As for whether China has acceded to Milley**'s request, we can see from ***'s response, when asked whether China has suspended the currency swap arrangement with Argentina, the spokesman did not give a positive answer, but suggested that the inquirer can go to the competent authorities to understand, this roundabout attitude has explained a lot.
Clearly, what Milley feared was happening, and China was not willing to help Argentina with a shortage of foreign exchange. Objectively speaking, it's not that China doesn't want to help, but that Milley ** is really sinister, and Argentina wants to increase currency swaps at this time, so it is almost said that it wants to pull China to "block the gun". The currency swap agreement between the two countries is essentially the exchange of a credit card issued by China to Argentina, with a limit of more than 100 billion yuan, which can be used to buy computers, electric cars, clothing, socks and the like.
Argentina has sent us more than 4 trillion pesos, which can be used to buy minerals and food. Although the amount is large, there are also big problems in it, and the credit cards issued by China can be bought by Argentines whatever they want, and can even be used to pay off US debts. However, Argentina sent us a "chicken rib", with the gradual implementation of the "shock **", the value of the peso is getting lower and lower, which directly leads to the fact that many food enterprises in Argentina, as well as mining enterprises, have now begun to denominate in dollars.
In other words, the value of the credit card that Argentina gave to China is about the same as that of a plastic card. China insists on carrying out mutually beneficial cooperation with Argentina on the basis of equality and mutual benefit, and now that it is unequal, then we will naturally freeze the credit cards issued to them. Coupled with the fact that Milley doesn't want to do business with China, then don't blame the bad news for hitting Argentina.
In general, if Milley wants to get out of the current predicament, he must find a problem from himself and then take the initiative to find a solution. Argentina's debt problem has been accumulating for decades, and even the United States can't save it this time, otherwise Milley would have traveled thousands of miles to the United States, and Biden wouldn't have had time to see each other. The United States is reluctant to take action, and it still expects China to help Argentina regardless of past suspicions and at the expense of its own interests, which is even more unrealistic.