First published by Money Metals here:
https://www.moneymetals.com/news/2018/04/02/china-us-dollar-international-trade-001448
Last Monday, the Shanghai International Energy Exchange launched the first futures contract for crude oil priced in Chinese yuan. It’s a major step forward in the process of international de-dollarization. Now Chinese and other international traders can buy and sell the world’s most important commodity in a liquid market without using U.S. dollars.
