China’s Middle Eastern business will increase yuan-for-oil-deals but dollar expected to stay dominant in world tradeChina is looking to expand the use of the yuan in oil and gas settlements, with the six Gulf Cooperation Council states
While the currency is likely to get a boost in energy markets, the yuan will not replace the US petrodollar, analysts say
by Ralph Jennings
Experts say the shift will not offset use of the petrodollar or substantially boost the yuan’s use outside energy markets.
Source: SCMP
https://www.scmp.com/economy/global-eco ... gn=3203585
It's all about "how much you made when you were right" & "how little you lost when you were wrong"