Arrr! China and Russia be sufferin' a foul blow to their global ambitions as a key matey be refusin' to join their tradin' crew.
2023-12-30
Ahoy, me mateys! The Argentinian Cap'n, Javier Milei, be no fan o' them commie scoundrels! He be shoutin' from the crow's nest, swearin' that his ship will sail alongside the free nations o' the West!
New Argentinian President Javier Milei has announced that Argentina will not join the China and Russia-led BRICS trading bloc. Initially, Milei's team indicated that they planned to delay the country's admission into the bloc, but Milei has now stated that he does not consider it appropriate to join at this time. Milei campaigned against countries ruled "by communism" and pledged to align with the "free nations of the West," particularly the United States and Israel.Since taking office, Milei has taken swift action to deregulate the economy by eliminating over 350 regulatory policies. This move has sparked controversy and led to protests from labor unions and citizens, with some filing a lawsuit against the government for unconstitutional policy changes.
Milei describes himself as an "anarcho-capitalist" and states that his foreign policy differs from that of the previous administration. He plans to meet with each of the BRICS leaders to discuss intensifying bilateral ties and increasing trade and investment.
The BRICS trading bloc aims to challenge Western economic dominance, with China being the dominant force accounting for over 70% of the member states' combined GDP. China and Russia have sought to expand the bloc's membership to counter the G-7 and have offered admission to several states, including Argentina.
Argentina's decision not to join the bloc has significant implications as China and Brazil are the country's biggest trading partners. However, Milei introduced economic "shock therapy" to address Argentina's high inflation and high poverty rates.
Overall, Milei's refusal to join the BRICS trading bloc reflects his commitment to aligning with Western nations and implementing economic reforms to address Argentina's challenges.