Taiwan's only diplomatic country in South America Paraguay expressed doubts about the replacement of the US dollar as the dominant currency of the global trade.
According to BloomberEssencePunia has always resisted mainland China to try to abandon Taiwan to turn to the mainland to build diplomatic relations with the mainland, thereby further isolation in Taiwan.
Punia said: "At least now, in terms of international trade, I don't think the use of another currency is reliable."
Russia, Saudi Arabia, and Brazil have signed a series of agreements to promote the use of RMB in order to weaken the US dollar's influence on the global economy.
Paraguay, with a population of 7.5 million, is a inland country, which is equivalent to California, USA. It is one of the few countries that still maintain formal diplomatic relations with Taiwan.This special relationship means that the country cannot directly sell soybean and beef to the mainland.Paraguay's election President Santiago Pena has promised to maintain a relationship with Taiwan.Punia will take over Abdot, who ended in the five -year term on August 15 as president.
Abu Duo proclaimed the trade growth between Paraguay and Taiwan during its ruling, and hinted that Taiwan may not fully realize that Paraguay's low tax rate and investment as a member of the Southern MercosurChance.
Other founding members of the Southern Common Market are Argentina, Brazil and Uruguay.After preliminary negotiations with Uruguay and China, the organization may seek a trade agreement with China.Abu Duo said that Paraguay is open to business with China.
He said that China "doesn't want to do business, unless we change our diplomatic position".
