Russia, US, China to split influence in new world order: Argentina
3 Min Read
Argentine President Javier Milei envisions a new global order led by the US, Russia, and China, while navigating a delicate balance between these powers as Argentina faces an economic crisis.
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Argentina's President Javier Milei delivers the annual State of the Nation address in Buenos Aires, Argentina, March 1, 2025 (AP/Rodrigo Abd)
Argentine President Javier Milei has stated that a new global order is taking shape, in which three major powers, Russia, the United States, and China, will each dominate distinct spheres of influence.
Speaking in an interview with Argentina’s Neura radio, Milei laid out his vision for a world increasingly divided along geopolitical lines led by these key players.​
“The world order is being redefined. The US will now lead America, Russia will lead Eurasia, and China will be the leader of Asia, that is, of the part not headed by Russia,” Milei said.​
The Argentine president argued that Europe is no longer in a position to claim global leadership, attributing the continent’s decline to its internal ideological conflicts.​
“Europe will have to struggle a lot to get rid of the woke narratives (based on the liberal and gender agenda - TASS),” he added. “Europe has long ceased to advance.”​
Milei emphasized that Latin America should look to the United States as its primary partner, claiming his country has already become Washington’s key partner in the Western hemisphere. “We are in the right place at the right time,” he said.
Since assuming office on December 10, 2023, Milei has made a sharp foreign policy pivot toward the West. He has consistently named the United States and "Israel" as Argentina’s most important partners. Expressing strong support for economic integration with the US, the president has voiced his intention to pursue a free trade agreement with Washington.​
According to reports, Milei has visited the United States 10 times in the last 15 months, showing the priority his administration places on strengthening bilateral ties with Washington.​
Argentina faces a tough balance
Argentina faces a precarious balancing act under President Milei's vision, as the country attempts to align itself with the United States while maintaining critical economic ties with China and Russia.
Milei has struggled to distance Argentina from China, despite having strongly opposed relations with the country during his 2023 campaign, even going so far as to call Chinese leaders "assassins."
However, facing a severe economic crisis, he has since taken a more pragmatic approach, strengthening Argentina’s economic ties with China over the past three months.
According to the Associated Press (AP), this month, Argentina renewed its $18 billion bilateral currency swap with China, adding an additional $5 billion to the arrangement. Milei oversaw an earlier extension of the currency swap in June 2024.
This extension, valid until mid-2026, allows Argentina to borrow funds in Chinese yuan, bolstering its foreign currency reserves and facilitating trade with Chinese partners. The deal is crucial for Argentina's economic stability, supporting imports and investments, particularly in infrastructure and energy sectors. ​
China imports Argentine soybeans, beef, and wheat, while it runs hydroelectric dams in the country and maintains a stake in lithium mines and a space station in Patagonia, among other strategic assets.
