"Argentina's Milei Faces China Conundrum Amidst Soy and Lithium Trade"
Argentina's President-elect Javier Milei, who previously insulted China during his campaign, now faces a conundrum as he takes office and needs China as its second-largest trade partner amid a looming recession and dwindling foreign currency reserves. While Milei's team has adopted a more diplomatic tone, emphasizing the importance of private trade and reviewing state-to-state deals, concerns remain about the fate of sensitive mega-projects and ongoing infrastructure projects financed by China. Additionally, Argentina heavily relies on China as the top buyer of its soybeans and beef, and China has major investments in Argentina's lithium sector. The future of the $18 billion currency swap between Argentina and China is also uncertain under Milei's government.
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