peasant on Nostr: China & French-owned TotalEnergies just completed their first trade of liquefied ...
China & French-owned TotalEnergies just completed their first trade of liquefied natural gas (LNG) settled in yuan. Another big milestone in the decline of the USD as world reserve currency.
Unlike some, I'm not especially cheering this on: it will mark decades of turbulence. An ascendant China will have a lot of downsides. Many of us will realise we're exposed to the USD in ways we hadn't realised. But the US seems determined to commit economic suicide, and has left itself without options.
https://oilprice.com/Latest-Energy-News/World-News/China-Settles-First-LNG-Trade-In-Yuan.html
Unlike some, I'm not especially cheering this on: it will mark decades of turbulence. An ascendant China will have a lot of downsides. Many of us will realise we're exposed to the USD in ways we hadn't realised. But the US seems determined to commit economic suicide, and has left itself without options.
https://oilprice.com/Latest-Energy-News/World-News/China-Settles-First-LNG-Trade-In-Yuan.html