Friday, 13 April 2018

This Could be a Big Deal


China, the biggest importer of oil in the world, and Saudi Arabia’s largest customer, now is taking steps to have oil purchases denominated in yuan. This could be the start of the end of the dollar as the world’s primary reserve currency. See https://www.reuters.com/article/us-china-oil-yuan-exclusive/exclusive-china-taking-first-steps-to-pay-for-oil-in-yuan-this-year-sources-idUSKBN1H51FA.

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