Citing Argentina and Brazil, Bolivia says open to use China's yuan

Bolivian President Luis Arce cites a 'trend' in Latin America of ditching US dollar in favour of Chinese yuan, expressing openness to follow suit

Luis Arce says trading in yuan "is going to be the trend in the region." [File] / Photo: Reuters Archive

International trade transactions tend to be priced in US dollars, especially for major commodity markets like energy and grains, going back decades. "In Latin America, we have always had a great influence from the United States ... but today many countries have more foreign trade with China. Things are changing."

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