Argentina's financial stability: How can a currency swap with China help?

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  China and Argentina renewed a currency swap agreement.

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  And Saudi Arabia, Turkey and Pakistan signed a joint defense agreement.

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  I'm Do Hongyu in Beijing.

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  Our first story.

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  China's central bank says it's renewed a bilateral currency swap agreement with the Central Bank of Argentina.

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  The swap amount is set at 130 billion yuan, around 19.1 billion US dollars, equivalent to 28 trillion Argentine pesos.

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  The agreement runs for five years and is renewable by mutual consent.

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  The People's Bank of China says the move will help deepen financial cooperation between the two countries,

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  facilitate bilateral economic and trade exchanges, and safeguard financial market stability.

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  For more, we are joined by Professor Liu Baocheng,

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  Director of the Center for International Business Ethics and the University of International Business and Economics.

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  Thank you very much for joining us, Professor.

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  Argentina's President Javier Millay once made harsh anti-China remarks during his campaign.

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