Inevitable De-Dollarization: Which Countries Are Moving Away From Greenback? lewrockwell.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lewrockwell.com Daily Mail and Mail on Sunday newspapers.
Around 65,000 tonnes of LNG imported from the UAE was exchanged for yuan in the trade between China’s national oil company CNOOC and France s TotalEnergies. Some say countries like UAE are reacting to a global power imbalance, but others question whether this will be replicated on a larger scale
China’s ascension to prominence as one of the world’s two economic superpowers has been accompanied by its rise in diplomatic intermediation, aided by its extensive Belt and Road Initiative. Its recent successes in the Arab region underscore the global power centre’s shift eastward, not boding well for the petrodollar’s continued dominance.