This is hardly new. Panama was the first country in Latin America to adopt the US dollar, in 1904, shortly after independence from Colombia. Almost a century later, Ecuador and El Salvador followed ...

and some 20 countries in Latin America and the Caribbean have signed up to the BRI. The significant investment and diplomatic switches have prompted Taipei to dub the process "dollar diplomacy".

LATIN AMERICAN ... countries of Central America, dollarization showed more fluctuation over the decade, without a clear trend. Cocirculation—also commonly known as dollarization— results when a ...