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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (377660)	7/23/2018 9:56:19 AM
From: zzpat	Read Replies (1) \| Respond to of 543085

The petro yuan already exists. Russia also has a petro currency based on the yuan and backed by gold. China is the largest importer of oil so I can't imagine exporters saying "no" if they pushed the issue. China, Russia, and Saudi Arabia are the key. If all three go against the US, it's over. So far, China hasn't responded to Trump's $500 billion tariffs and the market isn't listening to Trump either. If I were China I'd hit a US company that's dependant on Chinese imports, a company everyone knows and drive it into the ground. But so far, they've been very mature about all the madness they see in the US. Then there's the debt they buy. Imagine if they sold off our debt and stopped using our currency to buy oil at the same time. The US put itself in this position when it created debt after decades of tax cuts. We don't need China to destroy us. Republicans are doing it for them.