De-dollarization must be seen as a godsend as countries can now trade outside the US$ and avoid the sanctions, even as they are asking - who is next. The Iran War is going to see de-dollarization up a notch with Russia and Iran now selling oil in Yuan. This move by Russia and Iran is no small potato, as both are major oil producers. Other Gulf oil producers will in time have to consider accepting Yuan, (if they have not done so already), as a currency for settlement when selling oil to China, the biggest market by far.
I have been watching videos of the changing landscape around the world regarding who is dominating in which sector. There are indeed somewhat of a surprise for me that China has grown to dominate in so many sectors of the global landscape which is fermenting a natural worrying reaction by the USA. China's domination in churning out scientific papers in chemistry, physics, mathematics, engineering and construction, which were the monopoly of the USA before, is now turned on its head. China has dominated the registration of patents (which is about new inventions) and is the top dog in this sector. China has stamped its domination in EVs, drones, shipbuilding and renewable energy harvesting, leaving the rest of the world fighting for runners-up position.
Anonymous
No comments:
Post a Comment