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Marketview: Money Talks

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American,Dollar,Chinese,Yuan,Compositionally,Combined,Currency,US

Saudi Arabia, the world’s largest oil exporter and China, the world’s largest oil importer, are both warming to the cause of non-US dollar payments. Saudi Finance Minister Mohammed al-Jadaan said in Davos this week that his country was open to discussing oil settlements in alternative currencies. This is one more brick in the road to a new financial system that China is most likely to crown in place of the US Federal Reserve.

Topics:
Oil Trade, Oil Supply, Crude Oil
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