They also refer to Bolivianos as Bolitas.Welcome to Argentina, where any Asian is a Chino, Paraguayans are Paraguas, Peruvians are Perucas, Bolivians Bolacas and Brazilians are Brazucas.
Also the word Quilombo, which here means mess and chaos, was taken from the name given to the communities of runaway slaves here in South America.
Enjoy your time here.
If we look at it from psycho-linguistic (and as you mentioned, through historical and contextual filters), it is very clear why Argentines use these terms and how (and when, in which context) these terms evolved (and why are they still present today).... As with any of these adjectives, they are not negative or racist per se, it depends on the context and the speaker. A person called American does not feel offended but others around them might act offended based on political views and not racist issues. ...