END OF AN ERA! China’s Yuan Reshaping the Energy Market! Is it Overtaking the Dollar?｜AsianQuickTake

Welcome to Asian QuickTake with Jacob. In this eye-opening episode, we explore a groundbreaking shift in global economic dynamics. On October 19, PetroChina International conducted a significant crude oil purchase, marking a historic milestone as the digital yuan was used for the first time in international oil transactions. This move is part of a growing trend towards de-dollarization and the internationalization of the yuan. Cross-border yuan settlements have surged, with China’s central bank reporting a 35% increase in yuan transactions during the first three quarters of this year, reinforcing the yuan’s global influence since the inception of cross-border trade yuan settlement back in 2009. Discover how major players like French energy giant ENGIE and the UAE’s First Bank of Abu Dhabi are embracing RMB-settled deals and digital currency agreements, further strengthening the role of the yuan in international trade. These developments signify a significant move away from the U.S. dollar in global economic transactions, including oil trade. We delve into the impact on the petrodollar as countries like Russia, Iran, Venezuela, and India increasingly adopt the yuan for oil trading. Notably, Saudi Arabia, one of the world’s largest oil producers, has also initiated the use of yuan for some of its oil-related trade. The U.S. Treasury’s aggressive debt policies and Federal Reserve actions are causing a surge in U.S. bond yields, leading to a potential decline in the dollar’s dominance in oil trade and global commerce. Explore how the dollar’s share of global currency reserves is diminishing, and the implications this has on international trade. China’s rise as the world’s largest importer of commodities and its burgeoning bond market are attracting global investors, including Wall Street institutions. As we analyze China’s shifting holdings of U.S. Treasuries and its role as a net seller, we contemplate the future of the petrodollar and U.S. monetary policies. Economist Daniel Lakar’s insights suggest that the world’s largest debtor, the United States, may soon confront the repercussions of its debt monetization cycle. Jim Rogers warns of the constant intervention in the U.S. dollar and the potential insecurity of the dollar’s status. As we witness the transformation of global economic and trade settlements, the U.S. dollar and U.S. Treasury bonds are steadily being replaced, drawing more global capital into the Chinese market. This shift underscores China’s growing influence in the international economy and trade. Thank you for joining us in this exploration of pivotal shifts in the global economic landscape. Don’t forget to like this video, subscribe to our channel, and enable notifications to stay informed about world affairs, economics, and geopolitics. Your presence is greatly valued. 💯TOP 3 Video China Shocks Yellen With Massive Selling of U.S. Bonds and Buying of Gold ▶ China to Accelerate Dumping of Up to $800bn U.S. Debt ▶ Swiss Sells $36.4 billion U.S. Treasuries ▶ ━━━━━━━━━━━━━━━━━━━━━ ✅ COPYRIGHT DISCLAIMER Asian Quicktake Doesn’t Fully Own Some of the Materials Compiled in Its Videos. It Belongs to People or Organizations Who Ought to Be Respected. If Used, It Falls Under the Following Provisions: Copyright Disclaimer Section 107 of the Copyright Act 1976. “Fair Use“ is Allowed for Purposes Such As Criticism, Comment, News Reporting, Teaching, Scholarships, and Research. ━━━━━━━━━━━━━━━━━━━━━ ✅ If You Are the Owner of the Materials Used in This Video, Let us Know in the Comments or Send a Email to me. We Will Follow Your Request Immediately. ━━━━━━━━━━━━━━━━━━━━━ ✅ FINANCIAL DISCLAIMER This Channel’s Content Should Not Be Interpreted or Construed As Financial Advice. We Are Not, and Do Not Claim to Be, an Attorney, Accountant, or Financial Advisor. This Channel’s Content is Not a Substitute for Financial Advice and is Solely for Entertainment Purposes.