De-Dollarization Continues: China-Argentina Agree Currency Swap, Will Trade In Yuan

by Tyler Durden
ZeroHedge.com
09/07/2014

It appears there is another nation on planet Earth that is becoming isolated. One by one, Russia and China appear to be finding allies willing to ‘de-dollarize’; and the latest to join this trend is serial-defaulter Argentina. As Reuters reports, China and Argentina’s central banks have agreed a multi-billion dollar currency swap operation “to bolster Argentina’s foreign reserves” or “pay for Chinese imports with Yuan,” as Argentina’s USD reserves dwindle. In addition, Argentina claims China supports the nation’s plans in the defaulted bondholder dispute.

The Rest…HERE

This entry was posted on Sunday, September 7th, 2014 at 6:09 pm and is filed under China, Economics, New World Order, World Politics. You can follow any responses to this entry through the RSS 2.0 feed.