China US Illustration: Liu Rui/GT
The Chinese embassy in Argentina said on Tuesday it firmly opposes US Treasury Secretary Scott Bessent's remarks made during his visit to Argentina, accusing him of maliciously smearing China's legitimate cooperation with other nations.
The so-called "rapacious deals" and "debt traps" attributed to China are unfounded; however, it is true that some people with ulterior motives are attempting to sow discord between China and countries such as Argentina and those in Africa, the embassy stated via its official WeChat account on Tuesday.
China offers assistance to developing countries, including those in Latin America and Africa, within its capacity and without attaching any political conditions. Such cooperation has effectively promoted economic and social development, improved livelihoods in the respective countries, and has been warmly welcomed by local governments and citizens, the embassy said.
The embassy emphasized that if the US cannot provide similar support, it should at least avoid hindering other countries' efforts in assisting developing nations and refrain from compromising their well-being for its own geopolitical interests, which not only lacks basic respect for developing countries and the Global South, but is also an extremely immoral act of hegemony, tyranny and bullying.
Bessent said in an interview that China signed "rapacious deals marked as aid" and "added huge amounts of debt" to Latin American countries' balance sheets, Reuters reported on Tuesday.
The embassy highlighted that China has consistently engaged in pragmatic cooperation with Argentina, including currency swaps, based on mutual respect, equality, and win-win benefits.
It pointed out that for years, this currency swap cooperation has significantly contributed to Argentina's economic and financial stability, earning positive feedback from the Argentine government. The embassy further noted that this collaboration has been instrumental in facilitating Argentina's recent access to IMF financing.
China's cooperation with Latin American countries, including Argentina, is grounded in South-South cooperation, always adhering to principles of equality, mutual benefit, and win-win outcomes.
The embassy urged the US to adopt a more constructive approach, refrain from smearing China and interfering in the foreign cooperation of regional countries. It emphasized that China does not pursue spheres of influence nor target any third party.
We advise the US to adjust its mindset. Instead of persistently smearing and attacking China, interfering in the foreign cooperation of regional countries, and attempting to resurrect a "new Monroe Doctrine," it would be better to focus on doing more practical things to support the development of these countries, the embassy said.
The so-called "tariff measures to block Chinese goods from entering the US and its allies' markets" are fundamentally acts of unilateralism, protectionism, and economic bullying, the embassy reiterated.
Recently, the US has been imposing excessive tariffs, which is essentially aimed at depriving countries, especially those in the Global South, of their right to development, the embassy stated.
According to World Trade Organization (WTO) data, US tariffs will widen the global wealth gap, with underdeveloped countries facing even greater hardships.
The embassy emphasized that the US' actions not only show no remorse but also seek to discredit China's normal foreign cooperation. This, the embassy noted, is an attempt to stifle China's industrial development, constituting economic coercion and bullying.
China will cooperate with other countries to uphold the principles of extensive consultation, joint contribution and shared benefits, adhere to true multilateralism, safeguard the international system with the United Nations at its core, and safeguard the multilateral trading system with the WTO at its core, the embassy said.
Global Times
