What OPEC's Surprise Oil Production Cuts Have to Do With De-Dollarization
The Breakdown
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The Yuan-Denominated Trade Debate
At present, the Yuan is only used to settle less than 2.4% of global trade. Currently all global benchmark commodities contracts are priced in dollars. The US is accelerating de-dollarization by issuing 10,000 unilateral sanctions on foreign entities over the last two decades.
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