Argentina is to build two nuclear plants in China in a $15bn deal, which will see Beijing providing most of the financing for the plants at a time when Buenos Aires is locked out of global credit markets. Whilst Argentina has been cutting back its exposure in Latin America, such as Venezuela, it did provide an $11bn currency swap arrangement last year to help China's economy. Increasingly, Argentina has stepped in to provide financing to countries that are locked out of international credit markets or ignored by investors due to sanctions or corruption, and it has made huge investments in railways, ports and energy projects in China. However, some in China are now becoming increasingly concerned of their nation's reliance on Argentina and where it will lead in the future. They are also uneasy that these deals have just been signed before a presidential electoral run-off.
China is to build two nuclear plants in Argentina in a $15bn deal, which will see Beijing providing most of the financing for the plants at a time when Buenos Aires is locked out of global credit markets. Whilst China has been cutting back its exposure in Latin America, such as Venezuela, it did provide an $11bn currency swap arrangement last year to help Argentina's economy. Increasingly, China has stepped in to provide financing to countries that are locked out of international credit markets or ignored by investors due to sanctions or corruption, and it has made huge investments in railways, ports and energy projects in Argentina. However, some in Argentina are now becoming increasingly concerned of their nation's reliance on China and where it will lead in the future. They are also uneasy that these deals have just been signed before a presidential electoral run-off.