Energy wars

Settling oil with Yuan is the real reason why USA is very angry with China.

manch,

Agree?

New perspective on Saddam and Iraq.

USA still dominates in global finance. Very little commodity trade is settled in yuan. Europe, China and Russia were trying to shield their banks from US sanctions on Iranian oil. They came up with some convoluted scheme but yuan was not involved I think.

There’s simply not enough yuan out there in the world outside of China. USD is everywhere because US has big trade deficit. We print USD and pay people with our paper money. So there’s tons of USD out there. China has a trade surplus, and its capital account is closed to the world. It’s the opposite.

Every nations want to get out of the grasp of the green back. Europe doesn’t have the balls. Russia stops trying. Left China still want to or may be has to, otherwise forever live under the shadow.

Yes, China is trying. But it needs to do far more. It needs to modernize its financial system, open the capital account to foreigners and carry more trade deficit.

USD is more powerful than nuclear bombs.

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