One Megabuyer—China—Finds a Way to Get Mideast Oil - WSJ
One Megabuyer—China—Finds a Way to Get Mideast Oil - WSJ
Source: WSJ
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DW NOTE
China now takes 60% of Middle East crude exports, up from 45% in 2020. Beijing pays in yuan, routes the flows through its own tanker fleet, and insures the cargoes through Chinese state carriers. The petrodollar didn't collapse — it was simply priced out by a buyer willing to build parallel infrastructure.