The United States has violated the major principles of the capitalist market economy and is poised to break the global political and economic order. The greenback threatens to swallow up the wealth of both targeted countries and individuals.
Saudi Arabia and the other Middle Eastern allies have grown dissatisfied with the actions of Washington in recent years. Today’s America is unreliable and untrustworthy.
This is the reason why Riyadh and Beijing had accelerated discussions on the issue of crude settlements in Chinese yuan.
If the talks are successful, they will have a profound impact on China-Saudi oil cooperation, international monetary relations, and the entire financial order.
The dollar has turned into a huge black hole, which, at any time, could destroy the wealth of the global economy.
Even though the USA and China are the world’s largest economies, there is no solid reason for the dollar currency to continue to maintain or share a dominant position.
In recent years, the USA has recklessly used dollar hegemony to unleash boundless liquidity, which has led to a glut of dollars around the world and a sharp increase in financial risk in many developing countries.
In particular, by creating geopolitical risks, the US Zionist regime has provoked a surge in commodity prices, at the same time increasing the risk of higher interest rates.
RT. com / ABC Flash Point News 2022.