Connect with us

Hi, what are you looking for?

Top News

The new apostate from the China-Russia alliance has arrived in Latin America

The new apostate from the China-Russia alliance has arrived in Latin America

Argentina's decline since President Miley's election victory in November represents another unexpected turn. The populist right-wing intruder promised radical economic reforms, which he has already begun to implement, such as the privatization of a large number of state-owned companies, as well as implementing significant reductions in the number of employees in the public sector, according to Haaretz newspaper. BBC.

In his resignation letter, President Miley noted that Argentina's foreign policy now differed significantly from that of the previous government, and that he did not consider full membership in BRICS appropriate. However, he reiterated his commitment to strengthening bilateral relations with the BRICS countries, with a focus on increasing trade and investment flows.

The BRICS alliance is often seen as a counterweight to the Western-led world. The BRICS alliance is economically dominated by China, which contributes more than 70% of the bloc's combined GDP. President Milley's criticism of China during his election campaign and his commitment to ending decades of economic mismanagement in Argentina point to potential shifts in geopolitical alliances.

The country faces serious economic challenges, including high inflation rates, low fiscal cash reserves, high public debt, and a large proportion of the population living below the poverty line.

Miley's government has already begun economic shock therapy, which has caused the value of the Argentine currency to fall by more than 50%. The delicate balance between economic reforms and international relations is clear, as Argentina's most important trading partners include BRICS members Brazil and China, as well as the United States. President Milley's willingness to maintain relations with the United States highlights Argentina's complex geopolitical environment in which resolving its economic problems has become more urgent than ever.

See also  The warships would be deployed by the British if there was no Brexit agreement

Cover image credit: Thomas Cuesta/Getty Images

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

In a harrowing incident that has shaken the community of Lewiston, Maine, a series of shootings on Wednesday evening resulted in a tragic loss...

Top News

President Joe Biden’s abrupt departure from a speech on the U.S. economy at the White House on Monday sent a ripple of speculation and...

Tech

A dangerous application appeared in the Apple App Store disguised as a known program. 24.hu reported the Based on TechCrunch article. Dangerous app in...

World

Chinese scientists have discovered a little-known type of ore containing a rare earth metal highly sought after for its superconducting properties. The ore, called...

Copyright © 2024 Campus Lately.