Is Saudi Arabia accepting Chinese money for oil?
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Posted On: 03/30/2023 9:39:14 PM
Is Saudi Arabia accepting Chinese money for oil?
Saudi Arabia Reportedly Considers Accepting Yuan Instead of Dollar for Chinese Oil Sales | Video | CoinDesk. Saudi Arabia is reportedly in talks with Beijing to price some of its oil sales to China in Chinese currency yuan instead of the U.S. dollar. This could dent dollar's dominance in the global market.
Benefits of petro currency
The petrodollar system gave the US dollar elevated status as the dominant currency in the global economy. This has many benefits for the US, including: Consistent trade deficits and source of liquidity. Inflow of foreign capital through petrodollar recycling.
What happens if America loses the petrodollar?
But if the petrodollar system ever crumbled, America would be stuck with lots of extra dollars that would no longer be in demand. Those dollars would quickly return to the U.S., which would lead to massive inflation.
Biden: China not economic threat to U.S
https://youtu.be/dew9qqoAM9A
China pays for oil in Yen
https://www.google.com/search?q=China+pays+fo...cp=Cgxnd3M
Saudi accepts payment for oil in Yen
https://www.google.com/search?q=Saudi+Accepts...nt=gws-wiz
Make America Better You Like Joe you will LOVE Kamala >< Fetterman > 2024
Saudi Arabia Reportedly Considers Accepting Yuan Instead of Dollar for Chinese Oil Sales | Video | CoinDesk. Saudi Arabia is reportedly in talks with Beijing to price some of its oil sales to China in Chinese currency yuan instead of the U.S. dollar. This could dent dollar's dominance in the global market.
Benefits of petro currency
The petrodollar system gave the US dollar elevated status as the dominant currency in the global economy. This has many benefits for the US, including: Consistent trade deficits and source of liquidity. Inflow of foreign capital through petrodollar recycling.
What happens if America loses the petrodollar?
But if the petrodollar system ever crumbled, America would be stuck with lots of extra dollars that would no longer be in demand. Those dollars would quickly return to the U.S., which would lead to massive inflation.
Biden: China not economic threat to U.S
https://youtu.be/dew9qqoAM9A
China pays for oil in Yen
https://www.google.com/search?q=China+pays+fo...cp=Cgxnd3M
Saudi accepts payment for oil in Yen
https://www.google.com/search?q=Saudi+Accepts...nt=gws-wiz
Make America Better You Like Joe you will LOVE Kamala >< Fetterman > 2024
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