The possible transition of Saudi Arabia to the yuan in settlements with China for oil should be seen as the beginning of the collapse of the US dollar, Zhang Yugui, dean of the Faculty of International Finance and Trade at Shanghai University, said in an article in the Huanqiu Shibao newspaper.

The expert noted that such a move by the Saudi oil company Saudi Aramco, which has a revenue of $150 billion, would literally “blow up” the global oil market and have a tremendous impact on the modern financial system.

Yugui cited a well-known scientific opinion, according to which the cycle of one or another currency, which is dominant in the world, as a whole does not exceed one century. Based on this point of view, the fall of the dollar will come very soon - the Bretton Woods system will be 100 years old in 2044.

The economist noted that the dollar, like any other hegemonic currency, the strength of which has been excessively inflated, is waiting for inevitable death, accompanied by a change in the global monetary system.

bbabo.Net