Collapse of US dollar’s hegemony to come? Argentina to pay for imports from China in RMB not dollars

Argentina will pay for Chinese imports in yuan rather than dollars for settlement starting from May. Argentina’s currency swap with China may help it to save foreign exchange expenses worth about $4.4 billion in the coming months, according to the embassy’s official WeChat account, quoting Argentina’s Economy Minister Sergio Massa. After reaching the agreement with various companies, Argentina will use the yuan for imports from China worth about US$ billion this month. The process will be accelerated in the next few months as authorization time will be shortened from 180 days to 90 days. __________________ ShanghaiEye focuses on producing top-quality contents. Nobody knows SHANGHAI better than us. Please subscribe to us ☻☻☻ __________________ For more stories, please click ■ What’s up today in Shanghai, the most updated news of the city