Shortly after Argentina's new ** Milley took office, the domestic situation deteriorated rapidly. On the first day of his tenure, he began to massively expand the country's reforms, cutting ** departments, lowering infrastructure guarantees and stopping bidding for infrastructure projects, which caused dissatisfaction and ** among the people. So far, 11 provinces in Argentina have announced their entryEconomyThe state of emergency, the domestic situation is worrying, and the ** internal chaos is also plunged. Civil servant salaryThe inability to pay on time has left people worried about their future wages. This series of turbulent events has brought Milley's administration to widespread criticism and accusations.
Argentina's recent internal woes have already arisenInternationalAt this time, Milley chose to ask China for assistance, but unfortunately, China resolutely rejected his request. Milley visited the United States soon after taking office, but failed to obtain a meeting with Biden of the United States, and then urgently sent a request to China to expand the local currency swap agreement, and emphasized the historical basis of Sino-Arab relations and his own friendly attitude towards China. However, China did not respond immediately, but wanted Milley to reassert his attitude towards China. Recently, China*** confirmed the termination of the local currency swap agreement with Argentina, directly rejecting Milley's request. This attitude shows China's concern and consideration for the current situation in Argentina.
The suspension of the China-Arab currency swap agreement is a clear statement of the rejection of Milley's request. This agreement is actually a mechanism for establishing a line of credit between the two parties. China gave Argentina a quota of 130 billion yuan, and Argentina could use the money to do soInternational**。Correspondingly, Argentina gave China a quota of 4.5 trillion pesos for China to buy minerals and grain. However, due to the sharp depreciation of the Argentine peso currency, companies generally do not recognize the currency, resulting in the Chinese peso being unable to be used effectively. In addition, the agreement stipulates that the two parties must repay the loan as agreed upon after the three-year period, but given Argentina's current domestic situation and Milley's governing policies, China can hardly believe that Argentina will repay the debt on time. In the worst-case scenario, Argentina could default and not repay the loan. On the other hand, the peso in the hands of China due to the continuous depreciation of the pesoPurchasing powerhas been significantly reduced, which makes local currency swap agreements uneconomical. Unwilling to take the risk of losing money, China rejected Milley's request for assistance.
As an important part of the diplomacy between the two countries, China-Arab relations have always adhered to the principle of equality and mutual benefit. China has always advocated withInternationalSocial friendship and cooperation, but this does not mean that China will unconditionally assist other countries. When Millet asked China for assistance, China, as a responsible power, insisted on the basis of equality and mutual benefit, and made the decision to refuse after weighing the benefits and risks of aid to Argentina. This not only shows China's concerns about the local currency swap agreement, but also shows that it is also a sign of concernInternationalThe message is clear from society: China will not make decisions that will be at a loss easily. The future development of China-Arab relations needs to be based on mutual understanding and good faith cooperation, and should be considered comprehensivelyInternationalsituation and their respective interests, and seek the path of common development.
Argentina fell into chaos after Milley came to power, and the situation in the country was unstable, causing popular discontent and **. However, Milley's aggressive approach to domestic policy has raised concerns in China, which fears that Milley will not be able to meet its debt to China, while rejecting Milley's request for assistance in the face of a continuously depreciating peso. China, as a responsible power, is treatingInternationalPaying attention to the principle of equality and mutual benefit in affairs is not a major injustice. The future development of China-Arab relations needs to be based on mutual understanding and good faith and cooperation, and jointly seek to maximize the interests of both sides.