MercoPress. South Atlantic News Agency

Mondino assured of China's support for Argentina's stance regarding Malvinas/Falkland issue

Beyond China's old support regarding the Malvinas/Falklands controversy, Mondino's trip seems to have yielded almost no results

Although Argentine Foreign Minister Diana Mondino had the near-impossible task of putting her country on good terms with China despite President Javier Milei's disparaging campaign comments, some common ground was reached this week as the South American diplomat reaffirmed the one-China principle and Beijing backed Argentina's claim to the Falkland/Malvinas Islands.

Mondino's trip was mainly aimed at prolonging the US$ 4.9 billion currency swap, which would be crucial to bolstering the reserves of the Central Bank (BCRA), but no concrete steps were announced. BCRA President Santiago Bausili was reportedly still negotiating.

She also tried to calm relations between the two governments after Milei's verbal outbursts as long as China remained interested in trade with Latin America. However, the Argentine envoy had to tiptoe around Washington's instructions to keep the Asian giant's hands off the region, where it already has several investments.

Mondino held key meetings with Vice President Han Zheng, Deputy Commerce Minister Wang Shouwen, and People's Bank of China President Pan Gongsheng.

With Han Zheng, both officials agreed on the importance of deepening bilateral cooperation in various fields and creating conditions to strengthen ties between the two countries. They also highlighted the advantages offered by the complementarity of the Argentine and Chinese economies. The Foreign Minister also explained the reforms that Milei intends to implement in the areas of the economy, trade, investment, energy, and infrastructure.

The Chinese Vice President reaffirmed China's support for Argentina's position on the Falkland/Malvinas Islands, and Mondino reiterated her country's commitment to the “one China” principle, according to which Taiwan is merely a rogue province.

China was the third destination for Argentine exports in 2023, and the first buyer of meat and soybeans. Projections for 2024 were equally optimistic until this week when Congressman José Luis Espert, a Milei ally, held a meeting with the director general of Taiwan's Trade and Cultural Office in Argentina, Florencia Miao-hung Hsie, which many analysts in the South American capital saw as a “shot in the foot,” according to local media.

Espert chairs the strategic budget committee and is said to speak with Milei almost daily. He has also been mentioned as a possible replacement for Economy Minister Luis Toto Caputo or Interior Minister Guillermo Francos.

Taiwan is a red line for China, which has already approved dozens of Brazilian meatpacking plants to replace shipments from Argentina and is on a similar path with Australian soybeans, the LPO website noted.