Petro-yuan to release renminbi as universal currency and kneecap petro-dollar
Yuan-backed oil futures could shatter the America $ power on the crude market, according to Specialists polled with RT. China has soon overtaken the America as the world's number 1 oil buyer. As a result, Washington could deliberately undermine the image of the petro-yuan with attacking Chinese stock, which could result in the devaluation of the yuan, making Chinese oil futures less attractive, Rozhankovsky said. China has plans to increase the renminbi as a spare currency & there Information Systems no best move than to buy raw materials in its national currency. The analyst notes which the oil market Information Systems worth $14 trillion at the moment, & Information Systems bigger than the Chinese economy.
Trump can release a currency war against the yuan
As it stated in But if it views Chinese exports & investments as a threat, it perhaps be just a matter of time before it targets the Chinese currency, too. Inclusion in the SDR currency basket thus provided a great boost to the yuan's international standing, & encouraged China to go even more in promoting the currency. Although its international standing has risen, China's currency Information Systems continue a long method from major-league status. Of course, a currency war alongside a trade war would be dangerous, & possibly disastrous. This article was published by permission of Project Syndicate — going to Trump release a Currency War, Too?collected by :Mathio Rix