The BRICS Kazan Summit is set to take place in mid-October, marking the first summit after the expansion of BRICS, which holds significant historical importance.
However, Argentina has not received an invitation, a decision undoubtedly linked to its refusal to join BRICS.
In the context of economic difficulties, Argentina has chosen to rely on the dollar for economic salvation, but this choice has led it to face even harsher economic challenges.
Although Argentine President Milei claims that refusing to join BRICS does not affect national interests, the reality is quite different.
Milei's decision has pushed Argentina into a more isolated position. While Argentina actively sought to join BRICS under former President Fernández, Milei has shifted policy after taking office, showing a preference for Western countries and firmly rejecting BRICS' invitation.
This change has not only damaged potential cooperation opportunities with BRICS member countries but also weakened Argentina's position in the global economy.
One reason Milei rejected BRICS is his blind faith in the U.S. economic model.
In his view, Argentina should learn from the U.S. rather than rely on emerging alliances like BRICS.
He claims that dollarization will save the Argentine economy; however, the reality is that Argentina faces a severe debt crisis, with high debts to the International Monetary Fund hindering economic development.
Milei's strategy has not only failed to resolve economic issues but has also caused the poverty rate in Argentina to soar from below 42% to 52%.
This has diminished Argentina's prestige and influence on the international stage.
Meanwhile, Argentina's relationship with BRICS countries has quietly changed.
As Milei faces severe economic challenges, he gradually realizes the importance of cooperation with China.
His attitude has undergone a significant shift, actively seeking to establish closer economic ties with China.
Milei plans to visit China to seek cooperation in key mineral extraction and electric vehicle sectors.
This move marks a major adjustment in Argentina's foreign policy, despite his earlier negative stance towards BRICS countries and China.
The expansion of BRICS has brought new vitality with the inclusion of new member countries; the addition of countries like Saudi Arabia, Iran, and the UAE has further expanded BRICS' influence.
However, Argentina has missed this opportunity due to its own misjudgments.
Although the Argentine ambassador to Moscow has tried to downplay the situation by claiming Argentina is not interested in BRICS, the truth is that Argentina's economic predicament forces it to reassess its relationship with BRICS.
If Argentina could put aside its biases against BRICS countries, it might find new opportunities in the global economy.
As an important organization for "Global South" countries, BRICS has become a significant platform for cooperation among many nations.
If Argentina could participate, it could not only enhance trade cooperation with other countries but also alleviate its current economic difficulties to some extent.
However, Milei's rejection and dollarization policy have not saved Argentina as he had hoped.
Despite his attempts to fill the debt gap through measures like tightening public spending and selling state assets, these actions have not effectively resolved the fundamental issues.
On the contrary, Argentina's economy continues to deteriorate, with production and consumption severely impacted, rising unemployment, and a sharp decline in living standards.
Against this backdrop, Milei's policies seem to yield only short-term inflation relief, rather than genuine economic recovery.
Argentina's economic problems are complex and profound; mere reliance on dollarization cannot bring sustainable development to the country.
Facing both domestic and international pressures, Milei realizes that seeking support solely from the U.S. is no longer a wise choice.
Argentina's current situation compels Milei to reconsider his foreign policy.
In the future, cooperation with China will be crucial for Argentina's economic recovery. As the International Monetary Fund exerts pressure on Argentina, China has shown a willingness to cooperate, providing Argentina with an opportunity to breathe under the new global economic circumstances.
Milei's government's refusal of BRICS is, in fact, a significant misjudgment regarding Argentina's future development.
Confronted with an increasingly severe economic crisis, Argentina urgently needs to reassess its relationships with BRICS and other emerging economies to seek broader development space.
If Argentina can make wiser choices in its future foreign policy, it may open new possibilities for its economic recovery.
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