Photo: Wikimedia Commons.
On his birthday, Argentine President Javier Milei highlighted the work of his Economy Minister, Luis "Toto" Caputo, who was recognized in Washington by LatinFinance magazine before the IMF and World Bank assembly. Additionally, Milei received a congratulatory letter from Chinese leader Xi Jinping.
Relations between Argentina and the United States have been close since the beginning of his term, but interactions with China have improved, especially following a meeting between Foreign Minister Diana Mondino and her Chinese counterpart, Wang Yi, at the UN, where they agreed to strengthen cooperation.
Despite ideological differences, Milei’s administration seeks to maintain strong trade ties with China while continuing to nurture its relationship with the United States, which is watching China's influence in the region with caution.
Recently, a trip to Beijing was planned for Milei to participate in the Community of Latin American and Caribbean States (CELAC) summit in January. During a meeting at the Casa Rosada, Chinese Ambassador Wang Wei personally delivered Xi’s letter to Milei, while in Washington, Caputo negotiated a $2 billion loan with the World Bank for social projects.
Milei believes that the Argentine economy is showing signs of recovery, with improvements in the average salary and inflation that, according to him, could stabilize. He celebrated the latest Internal Wholesale Price Index (IPIM), which recorded a 2% increase in September 2024. This indicator leads him to think that October’s inflation will be similar, marking a step toward the goal of reducing inflation to 2.5% and eliminating exchange controls, depending on the citizens' demand for money.
In the political arena, Milei is betting on economic growth to strengthen his party, La Libertad Avanza, ahead of the 2025 legislative elections. Although there have been tensions with the PRO, he has integrated some of its members into the government, such as the new Secretary of Energy, María Tettamanti.
However, electoral alliances will be defined by district, with special interest in the Buenos Aires province, where the ruling party aims to solidify its presence and sees José Luis Espert as a key figure to contest the governorship in the upcoming elections.
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