Format:
1 Online-Ressource
Series Statement:
DGAP Memo / Deutsche Gesellschaft für Auswärtige Politik
Content:
China, the world’s second largest economy, and Saudi Arabia, the world’s pivotal oil producer, have been in talks to promote greater use of the RMB in oil deals, while China and Brazil recently agreed to transact bilateral trade in their own currencies, sidestepping the dollar. The push for greater use of the renminbi in its foreign trade reflects Beijing’s desire to limit its geo-economic vulnerability vis-à-vis Washington, particularly for critical imports, such as oil. (DGAP)
Note:
Gesehen am: 04.05.2023
Language:
English
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