According to CCTV, Argentine Foreign Minister Mundino arrived in China last Sunday for a three-day visit to China. In a sense, Mondino's trip to China means that Argentine President Milley has bowed to China after all. As a veritable "pro-American" president, Milley was very tough on China when he first took office, which caused a lot of controversy, and even threatened to "cut off" trade with China, Russia and other countries. But later, Milley's attitude towards China has changed a lot, and his rhetoric towards China has softened a lot, saying that Argentina needs to do business with China. This visit to China by Mondino can be regarded as a further change in Argentina's stance on China.
In fact, it is not difficult to understand the reason why Milley changed his stance on China, because Argentina now needs China's help more than ever, and the benefits that China can give Argentina cannot be given by the United States. As we all know, Argentina is currently in deep economic difficulties, with economic recession, high inflation, a large number of unemployed people in the country, and a lot of debts outside, and the risk of a sharp exchange rate collapse in the national currency, the peso. Each of these problems, taken out alone, is enough for Milley's headache, not to mention these thorny problems, superimposed together, self-likened "savior" Milley, if he wants to pull Argentina out of the current quagmire, successfully pulled out, his own strength alone is definitely not enough, there must be external assistance, and China is one of the few countries that can provide real help to Argentina.
First of all, by maintaining good relations with China, Argentina will not have to worry about selling many of its goods, so that Argentina can earn a lot of foreign exchange through exports to China. In recent years, the trade between China and Argentina has maintained a steady increase trend, and a large number of soybeans and beef are exported to China, which can contribute hundreds of millions of dollars to Argentina's revenue every year. If Milley ignores relations with China, business between China and Argentina will definitely be impacted. Some people may say that Argentina does not do business with China and can find alternative markets, but at present, the consumer market that can replace the Chinese market in the world, to be honest, is really not much, or even no, which is the main reason why many multinational companies increase their investment in the Chinese market.
Second, China can help Argentina ease its debt pressure, as it was previously reported that China and Argentina signed a large currency swap agreement, through which Argentina could get the renminbi and then use it to repay part of its foreign debt. At present, foreign debt is a mountain weighing on Argentina's head, which has a profound impact on the recovery of the Argentine economy. If Milley can solve the problem of foreign debt well, it will be equivalent to throwing off a heavy burden on the road to recovery for the Argentine economy. In other words, with China's help, the pressure on foreign debt faced by Milley and Argentina is certainly less than without China's help.
Finally, China can give Argentina support on the Falklands issue. After Milley was elected president of Argentina, he claimed that he would use peaceful means to recover the Falklands from Britain. To do this, Milley cannot do without the support of China and other countries. On the Falklands issue, the United States is unlikely to support Argentina, after all, the United States and Britain are iron buddies, and it is impossible for the United States to put Britain aside and support Argentina on the Falklands issue. Therefore, the benefits that China can give to Argentina cannot be given by the United States, and Milley must attach importance to relations with China.