Saudi Considers Accepting Yuan Instead of $ for Chinese Oil Sales

VicBee said:
I can't believe I read through all of these posts. So much emotional garbage it sometimes surprises me that it's coming from traders who are supposed to be grounded and methodical. Just shows, you never know what you get when you take someone out of their comfort zone.

It would behoove some of you to remove yourselves from your national blinders and consider how other nations behave in their national interest, regardless of ideology or embrace of values you're not comfortable with.
I'm not supportive of Saudi Arabia one bit, yet I can understand their willingness to diversify their monetary strategy, especially when China is clearly not interested in modifying foreign behaviors while we, the US, insist on behavior modification with all our trading deals. Supply and demand... is that so complicated to understand?
If we're going to apply moral or ethical standards to our governmental dealings, then we have to accept that we may not become or remain the favored trading partner. While our standards work well enough when others want to trade with us, it doesn't work so well when competition is fierce.
So, do we lower our standards or do we forego the opportunity?
One thing I know from having been around a few years and traveled a good part of the world, it's that our US standards are often so high that we can't even abide by them. And our standards are so intertwined with national politics that we insist on rules that are sometimes ridiculous, either because they come from the woke Left or the woke Right.
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Yeah but the puzzling thing is Saudi Arabia and probably all the rest of the middle eastern nations who are going to follow suit have never had any problems using USD exclusively before, WHY all of sudden the "monetary diversification" NOW?? This is the crux of the issue here. What China and US and the West do is a given and has never changed since the beginning of time but Saudi Arabia has always complied and accepted them until now. WHY the change now?

So if it's Saudi Arabia is the one that changed, then why is this our problem? Our standards are high for a reason because that's how we are supposed to behave. Yes it's hard and we fail to reach those standards ourselves as well but that doesn't mean we are supposed to abandon our standards. What is right is right. Just because we are not able to always do the right thing doesn't mean all of sudden we can lower our standards to do the wrong thing. If we do, then we become exactly like the ones that we don't agree with, basically giving up our own identity and our own existence.

This Saudi Arabia's "monetary diversification" (which in reality is really not a bad thing) should serve as a wake-up call for us to do more and do better to defend our endeavours to uphold our standards (I will give you a hint - it has to do with $$). It's when you persevere that others will follow.
 
When America was the wealthiest nation on earth with a powerful manufacturing sector and the rest of the world was recovering from debilitating wars it then made sense for the US to be the global arbiter of all things and promoter of various values.
But over the last 75 years, the rest of the world from China to Europe and a few other nations have risen and become rich and powerful too, forcing the US to spend a greater and greater share of tax dollars to maintain its military superiority and to maintain its leadership influence on the world. That is thoroughly unsustainable and unwise.
YouTube and TikTok and all other forms of popular media continously challenge the carefully crafted image of America's symbolisms, "land of..." "best.." etc. The world sees how dilapidated America has become, how dangerous it is to live there, how violent the population is, how unruly and disrespectful people are. Yes, parts of America are like 3rd world country. I lived in the Bay Area, one of the wealthiest area of the country, where road conditions are similar to those I traveled in Africa, where public buses and train and as dirty and unsafe as any I've ever been on, where not knowing a neighborhood can easily get you assaulted. And what's even crazier? The solution for a good part of Americans is guns and SUVs... can't make this shit up; the toothless proud to never have gone to the dentist.
So the rest of the rich world looks at America dumbfounded, unsure what it means for them. The baby boomer generation believed in the package that now looks so unappealing. Where will my kids go to study and become whatever they want to be? The repercussion of that question X 10 million over several years will determine the fate of the world we know today.
 
VicBee said:
When America was the wealthiest nation on earth with a powerful manufacturing sector and the rest of the world was recovering from debilitating wars it then made sense for the US to be the global arbiter of all things and promoter of various values.
But over the last 75 years, the rest of the world from China to Europe and a few other nations have risen and become rich and powerful too, forcing the US to spend a greater and greater share of tax dollars to maintain its military superiority and to maintain its leadership influence on the world. That is thoroughly unsustainable and unwise.
YouTube and TikTok and all other forms of popular media continously challenge the carefully crafted image of America's symbolisms, "land of..." "best.." etc. The world sees how dilapidated America has become, how dangerous it is to live there, how violent the population is, how unruly and disrespectful people are. Yes, parts of America are like 3rd world country. I lived in the Bay Area, one of the wealthiest area of the country, where road conditions are similar to those I traveled in Africa, where public buses and train and as dirty and unsafe as any I've ever been on, where not knowing a neighborhood can easily get you assaulted. And what's even crazier? The solution for a good part of Americans is guns and SUVs... can't make this shit up; the toothless proud to never have gone to the dentist.
So the rest of the rich world looks at America dumbfounded, unsure what it means for them. The baby boomer generation believed in the package that now looks so unappealing. Where will my kids go to study and become whatever they want to be? The repercussion of that question X 10 million over several years will determine the fate of the world we know today.
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Do you know what is the most desired country for all migrants around the world??

https://www.weforum.org/agenda/2017/11/these-are-the-countries-migrants-want-to-move-to/ And in fact the top six countries of destination of migrants are all in the West. When pushes come to shovel, this is where people want to go.

Not making this shit up either. China and all those who have risen and become powerful are welcome to step into our shoes and take over (look at all those ghost cities with all those developments. They can easily house half of the refugees and migrants around the world:
)

while we continue to do our best.
 
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TheDawn said:
Do you know what is the most desired country for all migrants around the world??

https://www.weforum.org/agenda/2017/11/these-are-the-countries-migrants-want-to-move-to/ And in fact the top six countries of destination of migrants are all in the West. When pushes come to shovel, this is where people want to go.

Not making this shit up either. China and all those who have risen and become powerful are welcome to step into our shoes and take over (look at all those ghost cities with all those developments. They can easily house half of the refugees and migrants around the world:
)

while we continue to do our best.
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It's important to differentiate those who migrate because of war in their lands, those who migrate because of poverty in their lands and those who migrate for educational reasons then stay. All are deserving but the consequences to the receiving nation are different.
But you make a good point which goes back to an earlier post I wrote, about value systems.
 
VicBee said:
It's important to differentiate those who migrate because of war in their lands, those who migrate because of poverty in their lands and those who migrate for educational reasons then stay. All are deserving but the consequences to the receiving nation are different.
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Yeah but we are not talking about consequences to the receiving nations here. That's a topic that's way above my pay grade. :)
 
Maybe we all should work harder for the less payment as Chinese)) But, anyway 1bn persons OMG
Maybe Saudi accepts Yuan instead of USD, maybe not, it's all that we get now.
 
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