Argentina and China sign deals strengthening ties after G-20

[Judi Lynn]

Argentina and China sign deals strengthening ties after G-20
Luis Andres Henao, Associated Press
Updated 2:11 pm CST, Sunday, December 2, 2018

BUENOS AIRES, Argentina (AP) — China's president on Sunday signed new trade deals with Argentina as the Asian giant expands its growing role in Latin American economies.

Presidents Mauricio Macri of Argentina and Xi Jinping of China announced the more than 30 agriculture and investment deals during a state visit following the Group of 20 summit of leaders in Buenos Aires. The deals include an agreement to export Argentine cherries to China and an expansion of a currency swap.

China is among Argentina's top export markets, especially for agricultural commodities that are the engine of its economy. It is also one of Argentina's biggest lenders, financing about $18.2 billion in infrastructure and other projects, according to the Inter-American Dialogue, a Washington-based think tank.

"China's development benefits Argentina, our region and the world," Macri said during a ceremony at the presidential residence in the outskirts of the Argentine capital.

Read more: https://www.chron.com/news/world/article/Argentina-and-China-sign-deals-strengthening-ties-13437770.php

LBN:
https://www.democraticunderground.com/10142214814

[Wellstone ruled]

1. You could see that one coming miles away.

Xi ain't no dummy!!

[sandensea]

2. It was an offer Macri really couldn't refuse.

As a right-wing Eurocentric bigot, he didn't always have a yen for the Chinese.

Just two years ago, he was cancelling Chinese-funded hydroelectric projects - agreed to by his center-left predecessor - with high-handed decrees, bashing Chinese-Argentine grocery stores, and calling their currency "colorful little paper."

But after his $100 billion debt bubble popped in April, and with the economic collapse that's followed, he's been singing a different tune.

[Wellstone ruled]

3. Going to through this into the mix.

Several months ago,Trump threatened to send a Military Force into Argentina to capture his Oil Fields. Dipshit Donnies exact words.

[sandensea]

4. Amazing isn't it.

Trump's taken full advantage of the compliant Macri, while he can, and has recently arm-twisted them into allowing U.S. bases in Argentina.

These bases (three in all) were authorized by Macri by decree in July - and without congressional approval or even notification, despite constitutional requirements he do so.

A contingent of U.S. Marines - and Israelis - was already detected on June 7 in downtown Buenos Aires.

They were probably there to survey the city ahead of the G-20 Summit; but Macri gave Congress no explanation.



To your point, one of these bases is already being installed: one which, not coincidentally, happens to be next to Vaca Muerta - the world's 3rd-largest unconventional oil/gas field.

The other two, still in the planning stages, would be next door to the world's 2nd-largest aquifer (the U.S. already has two bases in neighboring Paraguay, where the Bushes own 300,000 acres), and in the world's closest continental point to Antarctica (Tierra del Fuego).

Having said that, it's entirely possible that the next administration - even a potential Cristina Kirchner administration - will go along and reauthorize at least one of these bases (probably the one already being built).

Whoever takes office next year, you see, will have a very full platter - what with the debt crisis Macri is leaving them. They don't want any more problems.

Thanks again for your insights, Wellstone Ruled (I miss him; we could really use him right now).

[Wellstone ruled]

5. Doubt if few know just what the hell is going on in Latin America.

[sandensea]

6. True. It's not exactly prime-time news.

That's part of the fun of discussing these things on DU and elsewhere online: it's something you know is generally being ignored; but that it shouldn't be - at least not this much.

[Wellstone ruled]

7. There is talk of 3 million

people who have fled Argentina . One of the alternative news sites claims it might be 7-9 million. And then there is Venezuela with unknown numbers who are on the move.

You just wonder when people are going to wake the f up. And we who do pay attention,know the bulk of these refugees are eventually end up in the US.

Wonderful how our Policies are causing this to happen.

[sandensea]

8. That would be Venezuela.

The downturn in Argentina is severe, no question about that.

But it's not yet as bad as the 2000-02 crisis - and certainly nowhere as bad as Venezuela's since 2015, on which Gato Gordo posts regular and informative (sometimes shocking) updates.

While recent data on emigrants isn't yet available, during Argentina's 2000-02 debacle an estimated 250,000 people left. It's safe to say the number that have left since 2016 are at most half that many (probably around 100,000).

Immigration (on which there is detailed data) has likewise slowed, from 126,000 annually in the 2011-15 period, to 86,000 annually in 2016 and '17.

As has been the case since the '60s, most are from Paraguay, Bolivia, and Peru - which helps explain the recent rise of the right in Argentina (Macri dog-whistled very effectively for years before running in '15). You'll recall that until 1960, most immigrants to Argentina were European (Italy and Spain mostly).

Now, if the situation continues to worsen - as it has every month since April - then Argentina could be soon looking at 250,000 emigrants easily. I certainly hope it doesn't get that bad.

Difficult times for most of South America.