Dollar, rise of petro-yuan
President Xi Jinping's historic visit to Saudi Arabia was not good news for the US. First, the dollar system. He told Persian Gulf Arab leaders that China wants to buy oil and gas in yuan, a move that would support Beijing's goal to establish its currency internationally and weaken the US dollar's grip on world trade.
Any move by Saudi Arabia to ditch the dollar in its oil trade would be a seismic political move. It is said that the US economy would be decimated if Saudi Arabia would ditch the petro-dollar system and opt for a petro-yuan one: to what degree would the US economy suffer?
VIDEO | Paris march in support of Palestine women
VIDEO | ICC issues arrest warrants for Israeli prime minister, ousted regime war minister
120 Palestinians perish as Israeli war machine keeps ravaging Gaza
VIDEO | Struggles of Palestinian women amidst war, displacement
VIDEO | Hezbollah rains attack drones down on elite Israeli brigade
VIDEO | US biased mediation fails
Leader: All captains of criminal, Zionist, terrorist gang must be prosecuted
Iran further raises its oil prices for Chinese buyers: Report
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
