LA PAZ (Reuters) - Bolivia's president expressed&nbsp;openness to the use of the Chinese&nbsp;yuan&nbsp;for international&nbsp;trade&nbsp;during a press conference on Wednesday, citing similar moves by Argentina and Brazil to tap the Asian currency for transactions with China.
International&nbsp;trade&nbsp;transactions tend to be priced in U.S. dollars, especially for major commodity markets like energy and grains, going back decades.
"The two largest economies in the region are already trading in&nbsp;yuan&nbsp;in agreements with China, and that is going to be the trend in the region," Arce said, adding the South American country could not afford to stay on the sidelines.
The Argentine government announced last month it will start to pay for Chinese imports in&nbsp;yuan&nbsp;rather than U.S. dollars, in large part to safeguard the central bank's dwindling dollar reserves needed to pay down debt as well as to finance imports.
Earlier in the year, China and Brazil moved to reduce the dominance of the greenback by signing a deal to set up&nbsp;yuan&nbsp;clearing arrangements that can facilitate bilateral&nbsp;trade.
"In Latin America, we have always had a great influence from the United States... but today many countries have more foreign&nbsp;trade&nbsp;with China. Things are changing," said Arce.
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(Reporting by Daniel Ramos; Writing by Valentine Hilaire; Editing by David Alire Garcia)

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Bolivian leader open to using yuan for trade, touting 'trend'