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Wednesday, June 7, 2017

Saudi will sell oil to China in Yuan!

After Saudi Arab King's visit to China in March 2017, China has managed to get Saudi to give more price discounts to China and also use Yuan as the oil currency.

This is a bone-breaking deal that will hurt the USD reserve currency status.  USD will weaken when more international tradings are done in non-USD currency.

China is definitely the biggest winner as it gets more price discounts and also no currency exchange losses.

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