1. The Rise of Petroyuan
- Author:
- Dan Steinbock
- Publication Date:
- 01-2018
- Content Type:
- Special Report
- Institution:
- Georgetown Journal of International Affairs
- Abstract:
- In the late 20th century, U.S. petrodollar dominated the world economy. In the 21st century, we are witnessing the rise of the Chinese petroyuan. This ascent could speed up the erosion of the dollar’s dominance after a century of power. The U.S. dollar still accounts for 39% of international payments – more than the euro (33%), English pound (7%), Japanese yen (3%) and Chinese yuan (28%) – but times are changing.
- Topic:
- Oil, History, Natural Resources, Economy, and Currency
- Political Geography:
- China, Asia, North America, and United States of America