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BBC News: The end of the Anglo-American order? July 6, 2017

Posted by hslu in China, Cold War, Economics, Energy, Global Affair, Globlization, Middle East, Oil, Shanghai, U.S. Foreign Policy.
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I saw this on the BBC and thought you should see it:

The end of the Anglo-American order? – http://www.bbc.co.uk/news/world-us-canada-40227270

With China being the largest crude oil importer in the world, with Renminbi being accepted by central banks as a reserve currency and with Saudi Arabia and some OPEC countries don’t like what America is doing in the Middle East, is it likely that we will soon see crude oil being traded at Renminbi instead of the U.S. dollar? 

Of course I am not talking about all oil trades will be settled on Renminbi but what about bi-lateral oil trades between Saudi and China and Nigeria and China. You know which side Rusdia stands on this. 

The Renminbi bilateral swap lines between China and 33 (wiki data) other countries will be replaced with a new trading platform next year. In the past, these swaps were cleared by SWIFT which is under America’s influence. The new platform will be under China’s control and will be located in Shanghai away from SWIFT.

The world order is fast changing in front of our eyes if you care to look.

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