로그인




연락처 :
bolle1917@gmail.com


http://russia-insider.com/en/politics/saudi-arabia-has-lost-asia-russia-now-chinas-biggest-oil-partner/ri12611

Goodbye Petrodollar: Russia Accepts Yuan, Is Now China's Biggest Oil Partner

Russia reaps the rewards of dumping the dollar

Wed, Feb 3, 2016 | 60,865 108
Saudi Arabia's share of Chinese oil imports at the beginning of the decade was about 20%, while Russia's was below 7%. Not anymore.
Saudi Arabia's share of Chinese oil imports at the beginning of the decade was about 20%, while Russia's was below 7%. Not anymore.

Russia is now the top crude exporter to China, the largest (or second largest, depending on whom you ask) oil demand growth country in the world.

At the start of the decade, Saudi Arabia enjoyed a 20% share of Chinese crude imports, while Russia was lagging far behind with 7%. Now the Saudis find themselves neck and neck with Moscow for the lead in Chinese market share, with both performing in the 13-16% range. But Russia's share continues to rise, as The Kingdom struggles to maintain a foothold.

Why? Analysts attribute Russia's huge market share growth to its willingness to accept yuan, while Saudi Arabia is still clinging to blood-soaked dollars. As Business Insider notes:

Interestingly, part of Russia's success in China has been attributed to its willingness to accept Chinese yuan denominated currency for its oil.

This is consistent with earlier forecasts about Russia's market share in China. Bloombergreported back in July:

Following Russia’s recent acceptance of the renminbi as payments for oil, we expect more record high oil imports ahead to China,” Gordon Kwan, the Hong Kong-based head of regional oil and gas research at Nomura Holdings Inc., said in an e-mail, referring to the Chinese currency. “If Saudi Arabia wants to recapture its number one ranking, it needs to accept the renminbi for oil payments instead of just the dollar.”

As both the head of the Eurasian Economic Union (and founding member of BRICS), as well as a major energy exporter, Russia is leading the charge against the dollar. And now other nations are following suit: Iran and India announced last month that they intend to settle all outstanding crude oil payments in rupees, as part of a joint strategy to dump the dollar and trade instead in national currencies.

The dollar is slowly losing its privileged place in international transactions. What this means for the United States is anyone's guess.

?

List of Articles
번호 제목 글쓴이 날짜 조회 수
180 [제국주의/IBT] Roots & Fruits of Imperialism 볼셰비키 2017.02.05 24
179 [제국주의/미국] From 1945 Until Today – 20 to 30 Million People Killed by the USA 볼셰비키 2019.11.19 110
178 [제국주의] Monetary Imperialism 볼셰비키 2017.11.30 88
177 [중국/러시아] China’s Growing Presence in Russia’s Backyard 볼셰비키 2015.04.07 146
» [중국/러시아] Goodbye Petrodollar: Russia Accepts Yuan, Is Now China's Biggest Oil Partner 볼셰비키 2016.10.27 34
175 [중국/미국] China’s rise, America’s fall 볼셰비키 2017.11.09 110
174 [중국/미국] The Coming War on China: A pacifist appeal 볼셰비키 2017.07.30 22
173 [중국/베트남] What is socialist about socialist East Asia? 볼셰비키 2018.05.13 120
172 [중국/아프리카] China is building its first overseas military base in Djibouti 볼셰비키 2016.05.06 38
171 [중국] Poor Working Conditions Persist at Apple Supplier Pegatron 볼셰비키 2015.10.27 272
170 [중국] Believe in socialism not sorcery, China tells party members 볼셰비키 2017.11.21 93
169 [중국] China Is Canceling the Debt of the World’s Most Impoverished Nations 볼셰비키 2015.10.24 56
168 [중국] China Provides $1 Trillion in “Green Credit” 볼셰비키 2016.09.03 23
167 [중국] China sends artists to the countryside in Mao-style cultural campaign 볼셰비키-레닌주의자 2014.12.03 157
166 [중국] China workshop: challenging the misconceptions 볼셰비키 2019.09.30 90
Board Pagination Prev 1 ... 26 27 28 29 30 31 32 33 34 35 ... 42 Next
/ 42