Bolivia Replaces U.S. Dollar With Chinese Yuan in Foreign Trade
“Bolivia is now using the yuan to pay for imports and exports, becoming the latest country in South America to regularly use the Chinese currency in a small but growing challenge to the hegemony of the U.S. dollar for international financial transactions in the region,” the Associated Press reported on July 27.
We’re already using the yuan. It’s a reality and a good start …. Banana, zinc and wood-manufacturing exporters are conducting transactions in yuan, as well as importers of vehicles and capital goods. … The amount being used in yuan is still relatively small, but it will increase over time.
—Marcelo Montenegro, Bolivar economy minister
There is a lot of anxiety in Washington about threats to the special role of the dollar in regions like Latin America …. China’s new role as a lender of last resort in Argentina, and the use of the yuan for international trade by Bolivia, are a sign of the times.
—Benjamin Gedan, director of the Latin America program at the Washington-based Wilson Center
Uniting against the dollar: In the April 2023 issue of the Trumpet magazine, we wrote:
Numerous prophecies show that the U.S.—one of the main descendants of ancient Israel—will be isolated in this end time. … Ezekiel 27 together with Isaiah 23 show that major economies such as Europe, China, Russia, Saudi Arabia and Japan are working together to bring down the U.S. Due to its economic and strategic importance and proximity to the United States, we believe Latin America will also play a crucial role in its destruction.
Learn more: Read “America Is Being Besieged Economically,” by Gerald Flurry.