US-Saudi and Saudi-PRC relations are a factor in continued US dollar dominance. Beijing is poised to become a major rival to the US for influence in Saudi Arabia, and this could become the hub of the launch of the renminbi as a global currency.
Present-day Riyadh: attempting to build a life after oil with Vision 2030. But can it? Will the Aramco sale transform the Kingdom, the dollar, and Beijing’s position?. Photo by Datingscout / Unsplash