"Another strategic step to dislodge the dollar from its dominance.
By swapping yuan for rubles or pesos, China is putting yuan in the hands of two countries with significant consumer bases. And what are yuan used for besides propping up flailing currencies? Buying Chinese stuff!
Argentina and Russia are both resource exporters. Argentina’s economy pretty much hinges on exporting agricultural products, and also possesses oil and gas, precious and base metals, and bulk commodities. Russia’s economy is oil and gas. China can use the swapped pesos and rubles to buy these valuable and needed commodities from its trading partners."