Re: There's a new table has been built and U.S does not have a seat at it.
In a recent news, Saudi and Iran, two sworn enemies, have accord peace between them. And the one who was able to make this happen is China. Their difference in religious view was the cause of it, but I don't want to get into that here. Also the conflict includes war in Yemen and Syria. This is huge news.
China needs constant flow of oil from them and that's the reason why they agreed under some conditions. If you want to read more about it in detail follow this link to an article.
What You Need to Know About China’s Saudi-Iran Deal
There's been some rumors that Saudi wants to settle their oil trades in Yuan (China's currency) replacing the Dollar. If this happens, the Dollar's global reserve currency status will be in serious question. And one more thing, Saudi and Iran could join the BRICS (Brazil, Russia, India, China). If this is to happen, it will become one of the largest oil producing alliance. This is like half of the global population, where US is not a part of it.
How much of an impact this could have on the global economy and how bad or good is it?
China needs constant flow of oil from them and that's the reason why they agreed under some conditions. If you want to read more about it in detail follow this link to an article.
What You Need to Know About China’s Saudi-Iran Deal
There's been some rumors that Saudi wants to settle their oil trades in Yuan (China's currency) replacing the Dollar. If this happens, the Dollar's global reserve currency status will be in serious question. And one more thing, Saudi and Iran could join the BRICS (Brazil, Russia, India, China). If this is to happen, it will become one of the largest oil producing alliance. This is like half of the global population, where US is not a part of it.
How much of an impact this could have on the global economy and how bad or good is it?
the problem is that China is now trying to create some kind of visibility of its significance. Yes, China looks good from the outside - the second world economy, the regional leader, has thrown Russia out of the place of the second pole of the bipolar world ...
But there are many problems behind this. Starting from the fact that today the Chinese economy is very unstable:
- external debt of $33 TRILLION, which is much higher than the external debt of the United States
- internal long - has the same order.
- economy - export-oriented and more than 80% dependent on Western consumer markets
- China's economy is totally dependent on Western technology
and many other, no less serious problems ...
The game with BRICS for China is a game for, exclusively, YOUR benefits. You already know that "avoiding the dollar in settlements within the BRICS, and switching to local currencies" actually turned out to be nothing more than "everyone buys and sells for RMB"
And what China is now trying to do in the international arena is just a "beautiful wrapper" to show its "younger brothers" like Russia that China must obey and China must obey ...