Argentina and China to broaden ties

World Today

Argentina is among the Latin American countries which have received a large amount of Chinese investment and trade in recent years, but the country’s new government may be looking to change this relationship.

CCTV’s Joel Richards reports from Buenos Aires.

Argentina and China to broaden ties

Argentina and China to broaden ties

Argentina is among the Latin American countries which have received a large amount of Chinese investment and trade in recent years, but the country’s new government may be looking to change this relationship.

In recent years, state visits cemented a multi-billion dollar currency swap, increased trade and boosted Chinese investment in transport, infrastructure, and most recently, nuclear energy.

But these agreements also brought criticism, both of the country’s growing dependence on trade with China and over terms of the deals. Among the critics: sectors of President Mauricio Macri’s new government.

The urgent need for foreign currency led the countries’ Central Banks to negotiate terms of the currency swap, which allowed Argentina to drop capital controls just this week.

In its first full week in power, the new Argentine government is still evaluating the situation it inherited from the previous administration.

As Argentina aims to transform its slowing economy, it is actively looking to bring in further investment, be it from the north or from the east.

CCTV America