The Epoch Times SANTA CRUZ, Bolivia—Argentina’s socialist government is scrambling to stem its hemorrhaging currency rates, economic recession, and hyperinflation, while negotiations continue with China over swaps and debt relief.
The nation has an established track record of defaulting on loans, even before China agreed to grant an additional $19 million to the Argentine government in 2020.
China and Latin America relations analyst Fernando Menendez told The Epoch Times that while Beijing’s loans in the region may look risky from a traditional standpoint, in the end, they still come out on top.
“Because if the repayment doesn’t work out, they can just seize assets,” Menendez says.
A large part of Argentina’s economic woes stem from a lack of consistency in macroeconomic policies, according to Institute of the Americas member and University College of London professor, Nestor Castaneda…
