[Marxism] Dollar no longer primary oil currency as China begins to sell oil using Yuan
whdgm66 at gmail.com
Thu Sep 20 23:49:54 MDT 2012
On Thu, 20 Sep 2012 23:50 Shane wrote:
> Total nonsense. China is a big *importer* of petroleum and pays for it in dollars. Chinese oil sales are trivial at best.
my apologies, i should have stated the question more clearly. what i
mean is the theory that US wars are foreign policy are conducted
because of petrodollar hegemony (distinct from the more general
phenomenon of dollar hegemony). ie, the US acted the way it has
because: saddam hussein was about to sell oil for euros instead of
dollars, libya was about to create an "african dinar" for its oil
sales, and iran is considering something along these lines as well.
forget about china. my question should be: is the fact that oil is
denominated in USD really all that pivotal?
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