China’s Embassy in Argentina has criticised US Treasury Secretary Scott Bessent, accusing him of “malicious slanders and libellous remarks.”
In a statement issued by Beijing’s envoy in Buenos Aires, the Chinese government voiced its deep dissatisfaction and categorical rejection of the malicious slanders and libellous remarks made by the United States Secretary of the Treasury, Scott Bessent, during his visit to the Argentine Republic.”
However, Bessent also said that if Milei’s government continues with its economic reforms the country should have enough foreign exchange inflows to pay off the active US$5 billion portion of its swap with Beijing.
Refuting a series of claims made by Bessent during an interview with Bloomberg, filmed in Buenos Aires on Monday, China’s statement condemned Bessent for ramping up tensions in the middle of a global trade war sparked by US President Donald Trump’s tariffs.
In his remarks, Bessent suggested Argentina should pay off its currency swap with Beijing to protect itself.
“What we are trying to keep from happening is what has happened on the African continent,” Bessent said in the interview. “China has signed a number of these rapacious deals marked as aid, where they’ve taken mineral rights and added huge amounts of debt onto these countries’ balance sheets.”
In response, China’s Embassy issued a multi-point statement challenging the Treasury secretary’s views.
“The claim concerning predatory agreements and the alleged large amounts of debt incurred by the People’s Republic of China is false. What is true is that certain individuals with ulterior motives are attempting to sow discord in Sino-Argentine and Sino-African relations,” said the communiqué.
“To such individuals, we remind them that China, to the best of its ability, supports developing countries on their path to development – including those in Latin America and Africa – without imposing any political conditions,” it continued.
It went on to suggest that the United States “should … refrain from deliberately obstructing or sabotaging the assistance provided by other countries to developing nations and the Global South.”
“Nor should it sacrifice the wellbeing of the people in these countries to serve its own selfish geopolitical interests in defence of its hegemony,” it added.
Going on to its existing agreements with Argentina, Beijing said its relationship with the country is based on “mutual respect, equality and mutual benefit.”
“Over time, Sino-Argentine cooperation through the [currency]swap has played an important role in maintaining Argentina’s economic and financial stability, and this has been well received and highly valued by the Argentine side.
“Moreover, it is worth highlighting that the renewal of the swap also played an important role in securing relevant funding from the International Monetary Fund (IMF),” the statement continued.
“China’s cooperation with Latin American countries – including Argentina – is South-South cooperation that has always adhered to the principles of equality, mutual benefit and shared gains. It is never aimed at establishing a sphere of influence or targeting third parties. Therefore, we urge the United States to detoxify its mindset,” it said.
“Instead of repeatedly spending its time and energy discrediting and attacking China, pointing fingers at countries in the region for cooperating with others, or attempting to impose a new version of the Monroe Doctrine, it would be far more productive to make genuine contributions to the development of the countries in the region,” it concluded.
– TIMES/NA
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