Argentina has announced that moving forward, all Chinese imports will be paid for in yuan instead of dollars, continuing a trend that has witnessed more and more countries across Ibero-America, Asia, and the Middle East settling trade arrangements in national currencies or yuan instead of dollars.
In the announcement, delivered Wednesday, April 26th during a press conference that followed a meeting with China’s ambassador Zour Xiaoli, Argentina’s Economy Minister Sergio Massa said that Buenos Aires aims to pay for around $1 billion of Chinese imports in yuan instead of dollars in April, and thereafter around $790 million of monthly imports will be paid for in Chinese currency, El Diario AR reports.
