Manage episode 312264661 series 3231395
The rivalry between China and the United States is peaking: the trade war, the struggle for dominance of the Pacific, for the control of Africa and the new silk route. and, now, this clashis reaching one of the great pillars of the North American economy: the dominance of the US dollar. Even though China is already the second world power, the second largest economy and the largest exporter in the world, its currency, the Yuan doesn’t really have any global clout. But now Beijing wants to change that situation and make the Yuan a global reference currency. To do this, they want to promote what is already known as the Petroyuan, they want oil to be largely commercialized in Yuan. How? What would this change entail? What intentions does the Chinese government have and what does it want to do with the Yuan? Is the dominance of the dollar really in danger? We’ll discuss these and other questions in this video.