There's a new table has been built and U.S does not have a seat at it.

[tjtonmoy]

In a recent news, Saudi and Iran, two sworn enemies, have accord peace between them. And the one who was able to make this happen is China. Their difference in religious view was the cause of it, but I don't want to get into that here. Also the conflict includes war in Yemen and Syria. This is huge news.
China needs constant flow of oil from them and that's the reason why they agreed under some conditions. If you want to read more about it in detail follow this link to an article.
What You Need to Know About China’s Saudi-Iran Deal



There's been some rumors that Saudi wants to settle their oil trades in Yuan (China's currency) replacing the Dollar. If this happens, the Dollar's global reserve currency status will be in serious question. And one more thing, Saudi and Iran could join the BRICS (Brazil, Russia, India, China). If this is to happen, it will become one of the largest oil producing alliance. This is like half of the global population, where US is not a part of it.
How much of an impact this could have on the global economy and how bad or good is it?

[AI Am I]

There's been some rumors that Saudi wants to settle their oil trades in Yuan (China's currency) replacing the Dollar. If this happens, the Dollar's global reserve currency status will be in serious question. And one more thing, Saudi and Iran could join the BRICS (Brazil, Russia, India, China). If this is to happen, it will become one of the largest oil producing alliance. This is like half of the global population, where US is not a part of it.
How much of an impact this could have on the global economy and how bad or good is it?

The potential shift in the global oil trade towards using the yuan instead of the dollar and the possibility of Saudi and Iran joining BRICS would have significant implications for the global economy.

If the shift occurs, it could diminish the demand for the US dollar as a global reserve currency, which could weaken its value and reduce its dominance in global markets. Additionally, the formation of a large oil-producing alliance that excludes the US could potentially shift the balance of power in the global economy and have significant geopolitical implications.

However, it is important to note that these are still rumors at this point, and any such shifts would likely take time to occur and have complex consequences that are difficult to predict. The impact on the global economy would depend on a variety of factors, including how quickly the shift occurs, how it affects other markets and currencies, and how major players in the global economy respond to these changes.

[hugeblack]

I do not think that these analyzes are correct, because the United States is the one that provides protection to Saudi Arabia, and China will not be able to do that, which means that Saudi Arabia needs the United States.

The problem of the United States is that it sees the Saudis as if they were only an oil source and not a strategic partner. There is also a fear, after what happened in the recent crisis, that the American army may not move if any aggression takes place against the Kingdom of Saudi Arabia. Therefore, Saudi Arabia is trying to pressure the United States to make concessions and make promises. That China may be an alternative option if the United States does not respond to that pressure.

The ball is now in the court of the American administration, either to improve its dealings with the Saudi administration, or that these steps may be translated into serious endeavors.

China hopes for a strong alliance with Saudi Arabia to provide oil resources and guarantee the Silk Road^[1].

[1] China's $900 billion New Silk Road. What you need to know

[hyudien]

Whatever the background to the agreement between China and the Middle East that left the now sidelined US, everyone wants profit above anyone else's. The US created a long-lasting war in the Middle East and extracted natural resources for exploitation. Now it's no wonder that China's presence has provided a new perspective so that people in the Middle East must open their eyes more and see a side where the US is actually not a hero. Because the weapons of the Syrian war also funded it.
The US dollar is weakening and you need to remember that the good relations between Russia and China are now starting to cause concern for the US where open payments can be made via Yuan.

[DeathAngel]

The US dollar is weakening and you need to remember that the good relations between Russia and China are now starting to cause concern for the US where open payments can be made via Yuan.

This is the main concern right here. The recent meeting between Xi & Putin seemed to have gone well.

“Right now there are changes – the likes of which we haven’t seen for 100 years – and we are the ones driving these changes together”

Putin responded: “I agree.”

See more here - https://www.aljazeera.com/amp/news/2023/3/22/xi-tells-putin-of-changes-not-seen-for-100

[Hispo]

It is very unlikely that Saudi Arabia would stop to accept the USA dollars for their petrol, actually, it is very unlikely they would even accept Chinese Yuans in exchange for their energy.  I understand that the Chinese influence in the region has grown stronger in these latest years but Saudi Arabia would not earn much if they decided to dish the America FIAT that way. Strategically USA is very important for Saudis.

Still one must celebrate that those two rival nations could bring themselves to come closer to re-establish friendly relations, for the sake of stability in the middle east.

[tjtonmoy]

It is very unlikely that Saudi Arabia would stop to accept the USA dollars for their petrol, actually, it is very unlikely they would even accept Chinese Yuans in exchange for their energy.  I understand that the Chinese influence in the region has grown stronger in these latest years but Saudi Arabia would not earn much if they decided to dish the America FIAT that way. Strategically USA is very important for Saudis.

Still one must celebrate that those two rival nations could bring themselves to come closer to re-establish friendly relations, for the sake of stability in the middle east.

It is very unlikely but it could happen after what China is doing and their influence is greater than US right now. My enemy's enemy is my friend. This is the rule that they are following. I still wonder what was behind the scene deal that china made in order to achieve this. Only time will tell. And yes, this is a cause for celebration in the middle east.

[DrBeer]

In a recent news, Saudi and Iran, two sworn enemies, have accord peace between them. And the one who was able to make this happen is China. Their difference in religious view was the cause of it, but I don't want to get into that here. Also the conflict includes war in Yemen and Syria. This is huge news.
China needs a constant flow of oil from them and that's the reason why they agreed under some conditions. If you want to read more about it in detail follow this link to an article.
What You Need to Know About China's Saudi-Iran Deal



There's been some rumors that Saudi wants to settle their oil trades in Yuan (China's currency) replacing the Dollar. If this happens, the Dollar's global reserve currency status will be in serious question. And one more thing, Saudi and Iran could join the BRICS (Brazil, Russia, India, China). If this is to happen, it will become one of the largest oil producing alliance. This is like half of the global population, where US is not a part of it.
How much of an impact this could have on the global economy and how bad or good is it?

The problem is that China is now trying to create some kind of visibility of its significance. Yes, China looks good from the outside - the second world economy, the regional leader, has thrown Russia out of the place of the second pole of the bipolar world ...
But there are many problems behind this. Starting from the fact that today the Chinese economy is very unstable:
- external debt of 33 TRILLION dollars, which is much higher than the external debt of the United States. But dollars are printed by the USA, not China
- internal debt - has the same order.
- economy - export-oriented and more than 80% dependent on Western consumer markets
- China's economy is totally dependent on Western technology
and many other, no less serious problems ...

The game with BRICS for China is a game for, exclusively, YOUR benefits. You already know that "avoiding the dollar in settlements within the BRICS, and switching to local currencies" actually turned out to be nothing more than "everyone buys and sells for RMB"
And what China is now trying to do in the international arena is just a "beautiful wrapper" to show its "younger brothers" like Russia that China must obey and China must obey ...

[BADecker]

^^^ There is another consideration. Both China and the US import products from each other. So, who is stronger?

The US is importing many things from China because of cheaper China labor. If both countries stopped trading between themselves, who would be stronger? The US would have to learn manufacturing all over again. China has the manufacturing going because they are selling to the US.

On top of that, China is waking up to the idea of getting more money for the products they ship to the US. The US can't keep on making free money for its people just so they can buy more Chinese products.

On top of that, the money going to Ukraine is devastating the US banking system. All you have to do is check the news about how many banks in the US and Europe are going bankrupt. If the West doesn't get its act together, they will lose their position as world leader, and they might even be conquered militarily.

[Zlantann]

The Middle East need peace and this can only be achieved when there is peaceful coexistence and economic cooperation among nations. Iran is a close ally of China and the nation doesn't have a good relationship with the US. Beijing used it's relationship with both parties to make peace between these nations. Saudi Arabia is a key partner of the US and Washington confirmed that although they were not part of the peace process, Riyadh kept them informed concerning the developments of the negotiations.

Iran and Saudi Arabia joining BRICS is no big deal because the US and her allies controls the greater part of the world's economy. But it will be good for global economic competition because each bloc will like to attract more nations as allies which will to lead better loan facilities and grants to mostly developing nation.

[DrBeer]

^^^ There is another consideration. Both China and the US import products from each other. So, who is stronger?

The US is importing many things from China because of cheaper China labor. If both countries stopped trading between themselves, who would be stronger? The US would have to learn manufacturing all over again. China has the manufacturing going because they are selling to the US.

On top of that, China is waking up to the idea of getting more money for the products they ship to the US. The US can't keep on making free money for its people just so they can buy more Chinese products.

On top of that, the money going to Ukraine is devastating the US banking system. All you have to do is check the news about how many banks in the US and Europe are going bankrupt. If the West doesn't get its act together, they will lose their position as world leader, and they might even be conquered militarily.

In the Soviet Union, at any next event where the USSR once again screwed up, it was expected that it was customary to immediately blame the "capitalist West, and the Zionists"

now a couple of banks have problems, and the miserable legacy of the USSR blames Ukraine everywhere And the fact that during times of crises, even more banks burst before that, it’s not interesting to anyone

By the way - if you use the brain for its intended purpose, then it is logical to come to the conclusion that, as a result, for US banks, the events are beneficial. Now there will be a lot of words, and complex phrases, lovers of the USSR do not read, you still won’t understand

And so - the terrorist attack on Ukraine, from the side of Russia, began in 2014. It did not affect the world economy in any way. 2019 brought covid, huge problems, and first of all economic ones, to the whole world. This led to the stagnation of the economies, including the US economy. The assistance that a developed and adequate community began to provide to Ukraine from 2022 also gave impetus to the revival of the industry. As a result, companies are working, there are jobs, taxes, salaries, and people are bank customers who use credit funds that they could not pay in the post-COVID period due to the shutdown of the enterprise itself ... This is how the picture looks like, which makes it more profitable for the banks.

Yes, and I highly recommend reading about the causes of problems in banks. No, not about nonsense like "this is all because of the USA / Ukraine / Massons / ...", but about real reasons?
And also about a similar crisis in the global banking sector in 2007-2008 - you will be surprised, but there is a lot in common .. True, it is not clear how to "tie" Ukraine to that problem, as some really want ))