USD, step aside. China wants to globalize the yuan.
One of the largest home appliance stores in Argentina, Newsan, imports the majority of its goods from China. Up until this point, it.
Paid for refrigerators, TVs, and parts with U.S. dollars, the dominant currency in world trade.But Newsan began paying deals in Chinese.
Yuan last month in an effort to relieve pressure on Argentina's dollar-strapped economy.
The yuan is growing more important as a medium of exchange for international trade, according to Newsan CEO Luis Galli.
But beggars cannot make their own decisions. This agreement resulted.
From a pressing need.Argentina's economy is in trouble once more. Key agricultural exports have been destroyed by a drought, putting the economy—which was already dealing with surging.
Inflation—on the verge of a recession.Argentina's currency supply was running low, so in April the.
Government said it would pay for $1 billion worth of imports from China in yuan, followed by $790 million worth of imports each month.