With the death of Pope Francis, the world loses not only a church leader but also a moral compass that spoke out against inequality, discrimination, war, and climate destruction, writes MARC VANDEPITTE
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Milei’s affronts to China backfire
Already the extremism of the new Argentinian president’s administration is being watered down in the face of reality – but now the Chinese central bank has cut funding it could be in serious trouble, writes JAMES MEADWAY
Argentina's newly sworn-in President Javier Milei, center right, arrives at the Metropolitan Cathedral for an interfaith ceremony in Buenos Aires, Argentina, Sunday, Dec. 10, 2023
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THE Chinese government may have pulled the plug on far-right “anarcho-capitalist” President of Argentina Javier Milei, just weeks after his shock election win.
In a spectacular demonstration of how the lines of geopolitical power are shifting, the People’s Bank of China has withdrawn its “swapline” to the Argentinian central bank, depriving it of a vital source of cheap funding.
This leaves debt-ridden Argentina without ready access to funding to meet its promises to pay creditors. These international creditors include the IMF, to whom Argentina owes a world-record $43 billion.
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