BEIJING -- Wall Street is bracing for a potential shake-up as China is set to launch its first-ever crude oil futures contract late March at the Shanghai Futures Exchange. The move, which had been laid out in 2012 but faced delays over possible market turbulence, could represent a bold step forward in China’s rise as an economic superpower and
Will Petrodollar Give Way to Petroyuan? China Makes First Move this March
The coming introduction of a “petroyuan” marks one of the most significant bids to date by countries seeking to dump the U.S. “petrodollar.”