Scott Bessent claimed that cooperation with China occurs through ‘predatory agreements’ that increase countries’ debt.

On Tuesday, through a statement issued by its embassy in Argentina, China rejected the slander and defamatory remarks made by U.S. Treasury Secretary Scott Bessent on April 14.

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During his visit to Buenos Aires, the senior U.S. official suggested that, once Argentina accumulates international monetary reserves, its Central Bank should cancel the currency swap agreement with China.

To justify reducing bilateral cooperation with the Asian nation, Bessent claimed that China dominates Latin American countries through “predatory agreements” that appear to be cooperation mechanisms but result in “enormous amounts of debt.”

In response to his statements, the Chinese Embassy issued the following points:

“1. The claim regarding so-called predatory agreements and the alleged large amounts of debt involving the People’s Republic of China is false. What is true is that certain individuals with hidden agendas are attempting to sow discord in China’s relations with Argentina and Africa.

To them, we remind that, within its means, China supports developing countries— including those in Latin America and Africa—on their path to development, without imposing any political conditions. The goal of such cooperation has always been to contribute to socioeconomic development and to the well-being of the people—efforts that have been well received by the governments and citizens of the beneficiary countries.

If the U.S. chooses not to take this path, it should at the very least refrain from obstructing or deliberately sabotaging the assistance offered by other countries to developing nations and the Global South. It should also refrain from sacrificing the well-being of the peoples of these countries to serve its own selfish geopolitical interests in defense of its global hegemony.

Such conduct not only lacks even a basic level of respect for developing countries and the Global South, but it also reveals the hegemonic and coercive nature of an immoral approach.

2. China has always engaged in pragmatic cooperation with Argentina in various areas, including the currency swap, based on mutual respect, equality, and mutual benefit.

Over time, Sino-Argentine cooperation through the swap has played an important role in maintaining Argentina’s economic and financial stability, and it has been positively received and highly valued by the Argentine side. Furthermore, it is worth highlighting that the renewal of the swap agreement has also played an important role in securing relevant financing from the International Monetary Fund (IMF).

China’s cooperation with Latin American countries—including Argentina—is a South-South collaboration that consistently adheres to the principles of equality, mutual benefit, and shared gains. It is never intended to create spheres of influence or to target third parties.

Therefore, we urge the United States to clear its mind. Instead of repeatedly smearing and attacking China, pointing fingers at countries in the region for their cooperation with other nations, or attempting to impose a new version of the Monroe Doctrine, it would be far more productive for the U.S. to make real contributions to the development of the region.

3. The justification of supposed protection through tariffs on Chinese goods flooding the markets of the United States and its allies is nothing more than unilateralism, protectionism, and economic bullying.

The recent hasty imposition of U.S. tariffs is, in essence, a deliberate attempt to deprive other countries—especially those in the Global South—of their right to development.

Data from the World Trade Organization (WTO) show that, given the existing disparities in socioeconomic development and the imbalance in economic power, the imposition of U.S. tariffs will only further widen the gap between rich and poor countries. The least developed nations will be the most affected.

The U.S. not only refuses to rectify its actions, but is also attempting to use this scenario as a tool to tarnish China’s normal cooperation with other countries. Behind this attitude lies a malicious intent to contain and hinder the industrial development of the People’s Republic of China. In short, this is blatant economic coercion and hegemonic intimidation.

China will continue to work with countries around the world to uphold the principles of joint consultation, joint contribution, and shared benefits. China will remain committed to genuine multilateralism and to safeguarding the international system centered on the United Nations and the WTO-ruled multilateral trading system.”

teleSUR/ JF

Sources: Reuters – Chinese Embassy

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