The era of de-dollars is accelerating! More than 60 countries have enabled RMB settlement
Deepin Moments: 11-10-2022
Argentina has publicly fired the first shot at de-dollarization, starting to use RMB (short for renminbi or ) for trade settlement, a move that is undoubtedly a head-butt for Biden, who is currently in the midterm elections in the United States.
CCTV news, Argentina RMB clearing bank service launch ceremony, held in the Argentine capital Buenos Aires. So far, Argentina will directly adopt RMB for settlement in its trade with China.
The establishment of the RMB clearing mechanism will facilitate cross-border transactions between enterprises and financial institutions of both countries and can further promote trade and investment facilitation.
RMB is the official currency of the People’s Republic of China[note 1] and one of the world’s most traded currencies, ranking as the fifth most traded currency in the world as of April 2022. https://en.wikipedia.org/wiki/Renminbi