Argentina's President Javier Millay met with Chinese Communist Party dictator Xi Jinping on Tuesday on the sidelines of the annual G20 summit in Rio de Janeiro, Brazil.
Milley and Xi reportedly discussed a “packed agenda of common interests” during their meeting.
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The meeting was one of the most anticipated during Milay's visit to Brazil, given his aggressive anti-communist stance both before entering politics and as president. Although libertarian economists allow Argentine individuals to participate in private business with the Chinese government, they have always maintained that they do not do business with communist countries, including China.
According to Argentine news outlets, Argentine government officials took part in economic and political talks with the Chinese delegation for about 30 minutes. The meeting took place early Tuesday morning at the Sheraton Hotel in Rio de Janeiro, where Xi and a delegation from the Communist Party government are staying “under strict security measures.”
The Argentine presidential palace published photos of the meeting on social media.
During the exchange, Mr. Xi reportedly The Argentine president formally invited Mr. Milley to visit China, and the Argentine president responded with a similar invitation to President Xi to visit Buenos Aires.
The Argentine government told local media: “This visit will take place on terms agreed upon by the two foreign ministries.”
Argentine news agency Infobae described the encounter as a “realistic” turn for Millay, a staunch anti-communist and oft-repeated critic. claimed During his presidential campaign, he said, “We will not do business with communists.” After meeting with Xi, Milley and her delegation reportedly met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva.
Infobae said Millay's pragmatism toward China was a “direct result” of advice from Economy Minister Luis Caputo and Argentina's central bank board member Santiago Bausiri. The disastrous government of Milay's predecessor, socialist former President Alberto Fernández, left Argentina with a severe foreign exchange shortage, and by the time Millay took office in December 2023, the economy was completely destroyed. It was on the verge of collapse.
President Fernández, who is pro-China, forced Argentina to sign the agreement. 5 billion dollars A currency swap agreement was concluded with China in November 2022, and was expanded to $6.5 billion in mid-October 2023. China reportedly The contract was frozen immediately after Millais took office, but We have resumed It's June.
“The president knows the economy and finances very well, and Mr. Caputo and Mr. Bausiri simply explained to him that without a swap with China, everything could be complicated in the market. Milay understands the problem. He resorted to realpolitik and made a 180-degree turn,” Infobay said. “From that moment on, Mr. Millay, Carina Millay, former Prime Minister Mondino, Mr. Vertein, Mr. Caputo, and Mr. Bausilli were dedicated to strengthening diplomatic relations with the Chinese government.”
Infobae said that Xi “already recognizes Argentina's needs” and in return has a long list of “geopolitical goals” that he seeks to achieve since the previous governments of Alberto Fernández and Mauricio Macri. He claimed that
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Hydroelectric dams are also included in Xi's ambitious list detailed by Infobae. project In southern Argentina, China was aiming to build a nuclear power plant in Buenos Aires. 2022deep-water ports in the Tierra del Fuego region, participation in Argentina's telecommunications sector, access to Argentina's copper and lithium resources, and control of maritime areas. waterway This would give China more influence in the region's grain trade.
“The pressure is constant and at some point Mr. Xi gets what he wants. “We will be able to provide it,” Infobae reported.
In early November, Argentina's Ambassador to China Marcelo Suarez Salvia claimed Despite his fierce opposition to communism, Millay does not intend to completely separate Argentina from China.
The Argentine president was originally expected to visit China in January 2025 to take part in a summit bringing together China and the regional bloc Community of Latin American and Caribbean States (CELAC). According to Infobae, Milay will not attend the summit because he does not want to meet the region's dictators. Instead, Millais' visit to China will be postponed until mid-2025.
The newspaper also claimed that Milley would press China on the need to expand the country's commercial market and the importance of maintaining free access to multibillion-dollar swap agreements.
After meeting with Xi Jinping and IMF Managing Director Kristalina Georgieva, Milley said: met Prime Minister Narendra Modi of India.
Christian K. Caruso is a Venezuelan writer who chronicles life under socialism. You can follow him on Twitter here.
