Bolivia is the latest country in South America to regularly use the Chinese currency in a growing challenge to the hegemony of the U.S. dollar for international financial transactions.
probably cause there is already a system set up for doing transfers and it’s a lot of work to make your own, and they already do a bunch of trade with China
I think Shrike is asking, if they’re not using the petrodollar, why use Yuan rather than the other country’s currency.
Edit: Bolivia uses the Boliviano.
Well because you need a large stable currency that all agrees on. Yuan or bolivares? What would you like to be paid with?
probably cause there is already a system set up for doing transfers and it’s a lot of work to make your own, and they already do a bunch of trade with China