China says it's moving to buy oil and gas in the yuan — a move that could threaten the dollar's global dominance in the long run

Dec 12 2022 by Business Insider

 
Chinese President Xi Jinping said China will continue to import large quantities of oil and gas from Gulf states

Saudi Press Agency/Associated Press

On Friday, China's President Xi Jinping pushed for the settlement of energy trades in the yuan. At a summit with Arab leaders, Xi said China would continue importing large amounts of oil. Settling more trade in the yuan could weaken the US dollar's global dominance in the long run.

At a summit with Arab leaders on Friday, China's President Xi...

Continue Reading China says it's moving to buy oil and gas in the yuan — a move that could threaten the dollar's global dominance in the long run