China and Saudi Arabia are in talks for trading oil, and China wants Saudi to accept yuan instead of dollars. This is still under discussion in the talks that were started in a meeting between Saudi Crown Prince (and also Prime Minister) Mohammed bin Salman and Chinese President Xi Jinping during the GCC Summit on December 9-10.
China Saudi Partnership against Dollar
- Thread starter Yugocean
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- #3
China is too clever, but Business is business. Xi jyst met other Gulf leaders too who are struggling after India left for Russian Oil.
Saudi Arabia and other oil producing nations entered into agreement with American at Brentwood, therefore it will go against the the agreement they make with United States. Saudi Arabia enjoy peace because of America support and alliance. It will be diastrous if Saudi Arabia ever pull out relationship with America.
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Only if US is in position, but currently it is facing war which isn't its own, and wasting sources in Europe.
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Saudi oil will take a long way reaching China, time will tell
China is trying all its best to market is yuan to major countries.
One thing that I like so much about China is that there are always business inclined and they're always looking for ways to make their country be recognised in all forms of business.
of course there are a lot of speculations around the world that some powerful countries are teaming up against the dollar. Let us watch and see how things unfolds.
They are very pragmatic people when it comes to business. They don't attach any sentiments when doing business. But I doubt this alliance can do much harm to the us dollars.
the partnership can actually harm the dollar a little because a lot of money is involved in this. I think the Chinese yen will have to gain from this.
It would really affect the dollar that much if they can get alliances from other countries in the world. This is all a test for who would be the next world power.
That's true, but I believe the United States also have a lot of plans in order to sustain their world powership.
I don't know how this wouid affect African countries but it would sure affect them. Maybe that would make the dollar to fall and cost of importing goods to Africa would reduce.
The dollar has gained a lot of strength and it will be very difficult to fight the dollar.
