MercoPress. South Atlantic News Agency

Chinese Embassy in Buenos Aires rebukes Bessent's remarks

Some people with ulterior motives are trying to sow discord in Sino-Argentine and Sino-African relations,” the Chinese Embassy underlined

The Chinese Embassy in Argentina issued a strong rebuke against US Secretary of the Treasury Scott Bessent for his statements during his visit to Buenos Aires on Monday, accusing him of “maliciously slandering” China by labeling its bilateral swap agreement with Argentina as “rapacious” and debt-heavy.

The diplomatic mission criticized Bessent for “maliciously slandering and defaming” China by referring to the bilateral swap agreement renewed by the Central Bank (BCRA) and the Central Bank of the People's Republic of China (PBOC).

“We advise the United States to adjust its mentality instead of wasting time repeatedly defaming and attacking China and interfering in the foreign cooperation of countries in the region,” the embassy stated in a document.

In an interview with Bloomberg, Bessent said that China signed “rapacious agreements labeled as aid” and “added huge amounts of debt,” especially with African countries.

While Bessent suggested Argentina cancel the swap, which was renewed amid exchange tensions, the diplomatic mission defended the agreement, highlighting its role in stabilizing Argentina's economy and aiding its recent International Monetary Fund (IMF) financing.

“The statement about the agreements described as rapacious and the alleged large amounts of debt incurred by the People's Republic of China is false. What is true is that some people with ulterior motives are trying to sow discord in Sino-Argentine and Sino-African relations,” the Chinese Embassy underlined while arguing that Bessent was obstructing Global South development.

Beijing also reaffirmed its commitment to multilateralism, mutual benefit, and supporting developing nations without political conditions, urging the U.S. to respect international systems like the United Nations (UN) and World Trade Organization (WTO) and contribute positively to regional development.

“These cooperations have intended to contribute to the socioeconomic development and the improvement of the welfare of the peoples” and were “very well received by the governments and peoples benefited,” the Chinese embassy said. “If the United States prefers not to go down this path, it should at least refrain from deliberately obstructing or sabotaging assistance provided by other countries to developing nations and the Global South.”