Miscellaneous News

C

Chish

Junior Member
Registered Member
xypher said:
Well if Mongolian government cares about freedom and human rights so much, I wonder why then it is taking them so long to reveal the names of coal thieves that China already provided to the PM? Maybe the real shared values between Australia and Mongolia are corruption and selling coal?
Click to expand...
Thieves and corruptions are universally shared among all ideologies.
It's only the Deputy Prime Minister, Amarsaikhan Sainbuyan who is rocking the boat. However his statements were cherry picked and presented out of context.
 
T

taxiya

Brigadier
Registered Member
alfreddango said:
So, no petroyuan?
Click to expand...
First of all, many currencies can be used as payment to oil without conversion first to USD, like Euro. This makes dollar nothing special. The term of petro-dollar in strict sense is the arrangement of OPEC marks its oil price in USD. Euro payment is done by first converting the USD price to Euro price by the current exchange rate. Therefor Euro is not petro-currency.

However, Russian oil was not necessarily priced in USD, could be Rubble, and now is definitely in Rubble. That makes petro-Rubble in the same sense as petro-Dollar. This kind of petrol currency is "oil producers price their oil in a currency for export to any country".

SA selling oil in RMB to China does not make petroyuan, same as Euro. SA selling oil priced in RMB to countries other than China makes petroyuan.

So I don't think you can get the answer during Xi's visit. China has a future market denominated in Yuan. You need to see if SA is going to sell their future contracts in that market, and many 3rd country is buying the oil through that market. Also price of long term contract needs to be based on the floating price of the future market. That is when petroyuan is born. There is no clear cut event that you can use to determine.
 
You must log in or register to reply here.
Top