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179

The Argentinian Peso sucks so badly that it has made Huawei the world’s single largest beef importer. Huawei is immediately spending all pesos in its Argentinian accounts on beef to sell in China. (hexbear.net)

submitted 5 months ago* (last edited 5 months ago) by CoolerOpposide@hexbear.net to c/news@hexbear.net

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Tracking Milei’s Wins:

Huawei does a lot of business in Argentina. As a result of the recent Argentinian currency instability crisis, it has become impossible for Argentina to pay China in RMB or USD, and Huawei really doesn’t want to be stuck holding the hot potato (Argentinian Pesos) in its accounts.

Imagine you have two cows:

Huawei has immediately been taking any payment it receives in pesos, and immediately flipping it by purchasing Argentinian beef, which it then ships to sell back in China. China is the largest importer of beef in the world, and Huawei is now China’s largest importer of beef, which makes it quite possible that Huawei is currently the world’s largest beef importer.

It’s been very difficult to find any English media talking about this, so here is a link to the article

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[–] ReadFanon@hexbear.net 9 points 5 months ago

I feel like if there's one thing that's gonna make Argentinians take to the streets in a mass uprising to depose Milei, it'll be when the domestic beef supply dries up because all of it is being exported.