Despite Poor Optics, China-Argentina Deals Reflect Both Sides’ Pragmatism

Argentine President Cristina Fernandez, left, toasts with Chinese President Xi Jinping during a dinner in Buenos Aires, Argentina, July 18, 2014 (AP photo by Victor R. Caivano).
Argentine President Cristina Fernandez, left, toasts with Chinese President Xi Jinping during a dinner in Buenos Aires, Argentina, July 18, 2014 (AP photo by Victor R. Caivano).
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In July, just days before a New York court ruling put Argentina in default on a $539 million payment to creditors, Argentine President Cristina Fernandez de Kirchner signed an agreement with Chinese President Xi Jinping whereby China would loan Argentina $11 billion worth of yuan, which the latter could use to either bolster its currency reserves or pay for imported Chinese goods. The first installment of $1 billion is expected by year’s end, according to the Buenos Aires daily La Nacion. The currency swap deal, as well as a secretive deal for a Chinese satellite-tracking station in Argentina, have drawn […]

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