Countries that are joining China and Russia in their de-dollarization campaign could be “acting against their own self-interest,” warned John Kirby, the coordinator for strategic communications at the National Security Council in the White House.
Argentina will pay for imports from China in yuan instead of U.S. dollars to prevent a further decline in the nation’s diminishing dollar reserves, the government announced in a televised broadcast.
Economy Minister Sergio Massa confirmed in an April 26 meeting with Zou Xialoi, China’s ambassador to Argentina, that the South American country would start to pay about $1.04 billion of Chinese goods in yuan this month. Buenos Aires would then complete nearly $800 million in yuan-denominated imports….