As oil prices skyrocket amid new wars in Iran and Yemen, a Chinese scholar reconsiders the history of the petrodollar and what could change today. That could be crucial for China. ## I. Before Nixon severed the dollar’s link to gold on August 15, 1971, global oil prices (including in Saudi Arabia) had already been […]
General Introduction for China’s Re-globalization: A Petrodollar Trilogy[1] In early 1979, Chinese leader Deng Xiaoping during a flight to the United States argued that countries establishing good relations with the US generally achieved economic development. In 1978, Vice Premier Gu Mu led a delegation to five Western European countries, including West Germany; the same year, […]
