Milei's China policy expected to be pragmatic

Argentine President-elect Javier Milei's economic and social policy proposals, as well as his stance on China, have been in the international spotlight ever since he unexpectedly secured the highest vote share during the election. Many of his policy proposals deviate significantly from conventional norms, and his unfriendly remarks toward China during the campaign have added to the interest.

First and foremost, we must acknowledge a fact: Milei, almost a "political outsider", emerged as a formidable contender in this year's presidential election, decisively defeating a politically entrenched opponent, because Argentina's economy is mired in its most severe crisis in nearly 20 years, encompassing currency, financial, and real-sector crises.

Economists suggest the annual rate of inflation in Argentina is expected to average 147 percent in 2023, and the country's GDP could fall by 3.0-3.5 percent in 2023, as well as high unemployment rate, a significant devaluation of the peso against the dollar this year, and a looming external debt crisis.