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Petro-yuan to launch renminbi as global currency & kneecap petro-dollar

April 9th, 2018
Categories: News

Link: https://www.rt.com/business/423461-petro-yuan-us-dollar-oil/

The trade war between the US and China has already begun. China has plans to promote the renminbi as a reserve currency. Yuan-backed oil futures can shatter the US dollar dominance on the crude market If the world trade enters into a death spiral of reciprocal economic sanctions, keeping oil trade in dollars will be a matter of strategic importance for the US

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