Xi Jinping has made an offer difficult for the Arabian Peninsula to ignore: China will be guaranteed buyers of your oil and gas, but we will pay in yuan.The Cradle
Xi of Arabia and the petroyuan drive
Pepe Escobar
Xi Jinping has made an offer difficult for the Arabian Peninsula to ignore: China will be guaranteed buyers of your oil and gas, but we will pay in yuan.The Cradle
10 comments:
Can the yuan be converted into other currencies?
Sounds like a deal.
Much Ado about nothing. Everybody is already buying in their own currencies anyway. Plus the Saudi riyal is pegged to the us dollar so they'll just end up selling the yuan for dollars anyway.
The Triffin issue is just a hang over from the post war 'trade deficit' obsession of the 1960s that still hangs around in an era of floating exchange rates.
Why talk about the deficits rather than the National Savings they actually are.
If you don't like foreigners saving in your currency, stop paying them to do so, and perhaps even set a time limit on holding before they are canceled. Then they won't do it as much.
MAGA generally wants balanced trade…. Which would perhaps result in a reduction of the observed fiscal deficit…
“ If the Fed insisted on keeping interest rates above GDP growth… the economy would probably crash,”
Well they have been now for about 3 quarters… no crash yet…
Tom, please promote link
This whole site has very detailed refutation of Russian interference:
http://g-2.space/
Especially read:
http://g-2.space/intent.html
If you have any spare time please leak it to media I have tried contacting securedrop every time intel hack me :-)
@mi
I am not posting stuff that is not MMT-relevant anymore for reasons I have explained in previous comments.
[off topic]
MMT scholar Fadhel Kaboub.
Secretary-General Appoints Fadhel Kaboub Under-Secretary-General for Financing for Development
The Secretary-General of the Organisation of Educational Cooperation (OEC), H.E. Sheikh Manssour Bin Mussallam, announced today his decision to appoint Dr Fadhel Kaboub, of Tunisia, as Under-Secretary-General for Financing for Development.
Prior to joining the OEC, Dr Kaboub served as an associate professor of economics at Denison University and president of the Global Institute for Sustainable Prosperity. As a teacher, scholar, and policy advisor during the last 20 years, Dr. Kaboub’s work has focused on designing public policies to enhance monetary and economic sovereignty in the Global South, build resilience, and promote equitable and sustainable prosperity. He has held a number of research affiliations with the Levy Economics Institute (NY), the John F. Kennedy School of Government at Harvard University (MA), the Economic Research Forum (Cairo), Power Shift Africa (Nairobi), and the Center for Strategic Studies on the Maghreb (Tunis).
Congrats to Fadhel!
https://oec-oce.org/en/overview/
The Organisation of Educational Cooperation (OEC) was established on 29 January 2020 by Latin American, Caribbean, African, Asian, Middle Eastern and Pacific Island countries at the International Summit on Balanced and Inclusive Education held in Djibouti.
Knowledge is power, but is usually eclipsed by celebrity culture i.e. Putin, Xi, Modi, etc.
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