China's Grand Project: RMB Internationalization
As the world is stepping into digitalization, so is the currency. In the era of digital money, China's ambition to cut down the impact of US dollars is more evident than ever. As the world's second-largest economy, China relies on its well-established e-commerce platform to help promote the digital renminbi at home and abroad.
Recently, China and Saudi Arabia have further deepened various cooperation, including energy trade. How will the collaboration reshape the world oil trade in the future? This article will dive into energy projects between the two countries and analyze the "petroyuan" challenge to the US dollar in the post-COVID era.