China's launch of 'petro-yuan' in two months sounds death knell for dollar's dominance | WHAT REALLY HAPPENED


China's launch of 'petro-yuan' in two months sounds death knell for dollar's dominance

One of the world’s top energy importers, China, is set to roll out a yuan-denominated oil contract as early as this year. Analysts call the plan, announced by Beijing in September, a huge move against the dollar's global dominance.

The so-called petro-yuan is a “wake up call” for investors who haven’t paid attention to the Chinese plans, according to the head of Graticule Asset Management Asia Adam Levinson, as quoted by Bloomberg.

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