Global Analysis from the European Perspective. Preparing for the world of tomorrow

Will the yuan win the currency war?

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For the last weeks the world’s geopolitical situation has been deteriorating because of the tensions around North Korea and renewed talks about re-imposing sanctions against Iran. The sanctions imposed against Kim Jong Un’s regime do not affect Europe or the United States, but are unacceptable for China, which is North Korea’s almost exclusive supplier of goods. We did not need to wait long for the response: China introduced oil futures contracts, payable in the yuan, which could be exchanged for gold on stock exchanges in Shanghai and Hong Kong. By using these contracts the United States dollar as well as the economic sanctions against Russia and Iran can be bypassed. Read more subscribe:

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