https://www.wsj.com/articles/saudi-...-of-dollars-for-chinese-oil-sales-11647351541 That is pretty big. Other Mid East oil countries may follow. And then South America like Brazil and Argentina. China buys a lot of grains and beef there.
%% One of the all time great quotes from an oil king follows. President Bush asked the Arabian king ''Why don't you pump more oil for us[lowers price] ? And remember , the Bush family defended Arabia\ Operation Desert Storm\ Victory. The Arabian oil king asked Pres Bush ''why don't you cut the gasoline tax??'' Great question
That could be the trend now. With the sanctions imposed on Russia, other countries will think about their vulnerabilities and how to strengthen control over their finances, in case of war or dispute with other countries.
I think they’re just trying to gain back some leverage after overplaying their hand with the Biden phone snub and that perverse execution-o-rama before crude started to really drop. We’ll see though.
I think you made up the scenario. https://metro.co.uk/2022/03/13/trev...n-after-us-president-snubbed-by-uae-16266615/
This says one of the richest countries has confidence in Chinese Yuan. Saudi sees the bi-polar systems with both US and China as the global 1-2. Both Russia and Europe will be severely weakened. Also Xi is going to visit Saudi as his first overseas trip after covid. This is more than two years. This says how important the Saudi-China relationship is. So for oil supply, China has land route from Russia and sea route from Mid East. I can only say one camp is the West democratic pact. The other camp does not follow the West democratic principles. NATO is the tool of the first camp. All the rest are none NATOs.
Taiwan is next, Biden will sit there with his head up his ass. You can't serve two masters, world is in deep shit.