Yuan vs Dollar

China's currency, the yuan, is quietly making its way into global markets, and China is trying hard to introduce it as an alternative to the dollar. Thanks to these efforts, the yuan is rapidly gaining ground in many Latin American countries. In recent weeks, there have been concrete indications in this direction from the southern countries of Latin America. In Argentina, the government announced last month that its exports to China would be denominated in yuan instead of dollars to shore up its dwindling foreign exchange reserves. And in Brazil, where the yuan has replaced the euro as the second-largest foreign exchange reserve currency, the government also announced an agreement to trade with China in both countries' currencies and avoid relying on the dollar. These changes in Latin America's two largest economies have been identified by Bolivian President Luis Arce as a regional trend in which his country can join. But experts also see it as a reflection of China'...