On the 22nd, Argentinian President Milei attended the World Economic Forum 2026 Annual Meeting in Davos, Switzerland, stating that Argentina does not need to choose between the United States and China, and called China a “great” trade partner.
According to Global Times citing foreign media reports, Milei said in an interview, “I want an open economy. If you look at China’s weight in the world economy, you will understand that I need to trade with China.”
The report quoted Milei as saying that his responsibility is to act in the best interests of the Argentine people. “My plan is to open up to the EU, to open up to the United States, and also to open up to China…The United States itself trades with China. In our eyes, China is a great trade partner.”
As one of former President Trump’s closest geopolitical allies, Milei has sought a delicate balance between Washington and Beijing since calling the Chinese government a “killer” during his campaign. After taking office as president, he has clearly softened his rhetoric toward China, neither fully embracing nor completely rejecting this Asian power.
Currently, China is Argentina’s second largest trading partner. Data shows that in 2025, Argentina’s exports to China increased by 62% year-on-year, much higher than the 27% growth in exports to the United States during the same period.
For a long time, Argentina has been highly dependent on agricultural and energy exports. The country’s economic structure is relatively simple, lacking a complete industrial system, and is susceptible to fluctuations in international commodity prices and changes in the global economic climate. In addition, the country has long been under alternating rule by left- and right-wing parties, resulting in frequent policy changes, repeatedly missing development opportunities. The government runs deficits and faces mounting debt problems.