Geoeconomics and Digital Autonomy

Argentina between Economic Vulnerability and Data Governance Dependence

Abstract

In an international scenario marked by fragmentation and technological competition, big data has become one of the century's most strategic geoeconomic resources. Its accumulation, processing, and control not only determine economic advantages but also shape new forms of international power. According to Blackwill and Harris (2016), geoeconomics describes the strategic use of economic instruments to produce geopolitical advantages. As a result, access to large volumes of data allows states to influence trade flows, establish regulatory standards, condition financing agreements, and intervene in the national security of other countries. This article examines how financial dependence shapes data governance in the Global South through a case study of Argentina under the Milei administration. It argues that recent regulatory changes facilitating cross-border data flows toward the United States, formalised in the 2025 Framework for a United States–Argentina Agreement on Reciprocal Trade and Investment, cannot be fully explained by ideological alignment alone. Drawing on qualitative analysis of regulatory documents, financial data, and the sequencing of policy decisions, the article demonstrates that in the Argentinian economic situation, financial dependence structured the range of feasible policy options, making regulatory alignment with the United States the least costly alternative under conditions of acute economic vulnerability. The timing and content of the agreement, particularly the recognition of the United States as an adequate jurisdiction for personal data transfers, suggest that regulatory concessions were shaped by the need to secure external financing and maintain creditor confidence.