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International relations

Argentina slouches toward China debt reliance on eve of election

Buenos Aires may pivot from Washington-based lenders to Beijing

Argentina's President Mauricio Macri, left, and opposition candidate Alberto Fernandez at the end of a presidential debate on Oct. 20: The opposition has made no secret of its desire for closer ties with Beijing.   © Reuters

SAO PAULO -- Voters in Argentina go to the polls on Sunday to elect their next president, with recent surveys showing the leftist, anti-American opposition camp with a comfortable lead over business-friendly incumbent Mauricio Macri.

At stake in the election are relations with Beijing and Washington. Unlike the pro-American administration of President Macri, the opposition has made no secret of its affinity for China. Brushing aside concerns about being ensnared in a Chinese "debt trap," senior members of the opposition feel that Argentina should rely more on China than the International Monetary Fund, as the country has done in the past.

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