This is Argentina’s choice!Argentina’s President Miller recently said in an interview with the media that the world will be divided into three spheres of power: the United States, Russia and China, but the United States is undoubtedly Argentina’s ally, whether you like it or not, this is the reality.
Milley’s remarks are not empty diplomatic statements, but are rooted in the current economic situation in Argentina.
This country, which once ranked among developed countries with its agricultural and industrial strength, now faces triple-digit inflation, 40% of the population lives below the poverty line, and more than 4 million people face food insecurity.
Foreign exchange reserves are in short supply, debt is high, and the peso exchange rate continues to be sluggish. Data on October 17, 2025 showed that the exchange rate of the Argentine peso against the RMB was only 0.005083, and it fell slightly in a single day.
This economic situation puts every diplomatic and economic decision under real pressure.
Regarding the United States as an ally is the consideration of Milei's government based on short-term economic assistance.
In October 2025, the U.S. announced a $20 billion currency exchange framework with the Argentine central bank, and proposed direct purchases of pesos to stabilize its financial markets.
This money is like a “time rain” for Argentina, which is in need of foreign exchange injections.
Millay visited the United States twice before and after receiving assistance and met with Trump. The United States also clearly regarded Argentina as a strategic fulcrum in Latin America. This cooperation carries a clear mark of interest exchange.
But the complexity of reality lies in the fact that Argentina has not completely turned to a single partner.The Milley administration emphasizes its alliance with the United States, but does not end existing cooperation with China.
The RMB 35 billion currency swap agreement renewed in April 2025 has been extended to mid-2026. Argentine companies use RMB to settle imported goods, effectively alleviating the pressure on tight US dollar reserves.
Even though there were setbacks in soybean orders being signed and then "reassessed", its economy minister still made it clear that U.S. financial support would not change the swap agreement with China, and that "short-term assistance is only a market stability tool, not a diplomatic alternative."
Behind this seemingly swinging choice is Argentina's re-examination of the essence of "development".
Millais's mention of "changing from a developed country to an underdeveloped country" is a reflection on the past development path. Historically, over-reliance on external single markets and funds has caused the Argentine economy to fall into fluctuations many times.
Nowadays, even if we choose to deepen cooperation with the United States, we have not given up pragmatic interaction with China.
China is not only an important buyer of Argentine soybeans, but also a participant in the construction of infrastructure such as railways and electricity, and this long-term systematic investment is irreplaceable for short-term aid.
Millay's remarks sparked discussions on the perception of "sphere of influence", but Argentina's practice has quietly transcended this simple division.
The country is exploring a path of balance with action: accepting short-term financial support from the United States to resolve the emergency, while retaining a solid foundation for long-term cooperation with China.
In October 2025, the Argentine cabinet minister openly stated that he could strengthen ties with the United States but would not break ties with China, a pragmatic gesture that implies avoiding the risk of “single dependence.”
Argentina in the global pattern is like a ship looking for its course in the wind and waves.
Recognizing from the developed to the underdeveloped is the courage to face reality; choosing specific allies is to deal with the helplessness of the present; whileining pluralism is the space for the future.
Milley’s “realism” is a nation’s effort to survive in economic difficulties and a continuous exploration of “how to reclaim development initiative.”
This kind of exploration itself also gives the term "sphere of influence" a more vivid footnote.
Today, with the deep integration of the global economy, no country can achieve long-term development by relying on a single partner. Argentina's choice may still be adjusted, but it has sent a clear signal: pragmatic balance and diversified cooperation are the feasible ways out of the development dilemma.
Milley’s remarks are not empty diplomatic statements, but are rooted in the current economic situation in Argentina.
This country, which once ranked among developed countries with its agricultural and industrial strength, now faces triple-digit inflation, 40% of the population lives below the poverty line, and more than 4 million people face food insecurity.
Foreign exchange reserves are in short supply, debt is high, and the peso exchange rate continues to be sluggish. Data on October 17, 2025 showed that the exchange rate of the Argentine peso against the RMB was only 0.005083, and it fell slightly in a single day.
This economic situation puts every diplomatic and economic decision under real pressure.
Regarding the United States as an ally is the consideration of Milei's government based on short-term economic assistance.
In October 2025, the U.S. announced a $20 billion currency exchange framework with the Argentine central bank, and proposed direct purchases of pesos to stabilize its financial markets.
This money is like a “time rain” for Argentina, which is in need of foreign exchange injections.
Millay visited the United States twice before and after receiving assistance and met with Trump. The United States also clearly regarded Argentina as a strategic fulcrum in Latin America. This cooperation carries a clear mark of interest exchange.
But the complexity of reality lies in the fact that Argentina has not completely turned to a single partner.The Milley administration emphasizes its alliance with the United States, but does not end existing cooperation with China.
The RMB 35 billion currency swap agreement renewed in April 2025 has been extended to mid-2026. Argentine companies use RMB to settle imported goods, effectively alleviating the pressure on tight US dollar reserves.
Even though there were setbacks in soybean orders being signed and then "reassessed", its economy minister still made it clear that U.S. financial support would not change the swap agreement with China, and that "short-term assistance is only a market stability tool, not a diplomatic alternative."
Behind this seemingly swinging choice is Argentina's re-examination of the essence of "development".
Millais's mention of "changing from a developed country to an underdeveloped country" is a reflection on the past development path. Historically, over-reliance on external single markets and funds has caused the Argentine economy to fall into fluctuations many times.
Nowadays, even if we choose to deepen cooperation with the United States, we have not given up pragmatic interaction with China.
China is not only an important buyer of Argentine soybeans, but also a participant in the construction of infrastructure such as railways and electricity, and this long-term systematic investment is irreplaceable for short-term aid.
Millay's remarks sparked discussions on the perception of "sphere of influence", but Argentina's practice has quietly transcended this simple division.
The country is exploring a path of balance with action: accepting short-term financial support from the United States to resolve the emergency, while retaining a solid foundation for long-term cooperation with China.
In October 2025, the Argentine cabinet minister openly stated that he could strengthen ties with the United States but would not break ties with China, a pragmatic gesture that implies avoiding the risk of “single dependence.”
Argentina in the global pattern is like a ship looking for its course in the wind and waves.
Recognizing from the developed to the underdeveloped is the courage to face reality; choosing specific allies is to deal with the helplessness of the present; whileining pluralism is the space for the future.
Milley’s “realism” is a nation’s effort to survive in economic difficulties and a continuous exploration of “how to reclaim development initiative.”
This kind of exploration itself also gives the term "sphere of influence" a more vivid footnote.
Today, with the deep integration of the global economy, no country can achieve long-term development by relying on a single partner. Argentina's choice may still be adjusted, but it has sent a clear signal: pragmatic balance and diversified cooperation are the feasible ways out of the development dilemma.