Biden Drives Saudis Into China’s Arms Fueling More ‘De-dollarization’ of World Economy
China has moved in on the U.S. relationship with Saudi Arabia.
The communist government co-hosted a regional summit of Arab nations with Saudi Arabia, where it pledged to buy more oil from the region. It also urged oil-producing nations to stop using the U.S. dollar in their sales to China and use the Chinese Yuan instead.
It’s the next phase in Chinese President Xi Jinping’s campaign to ‘de-dollarize’ the world economy.
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