I suspect this is mostly talk to get concessions out of the US. In 2015, the Chinese promised to make the yuan freely tradable by 2020. That didn't happen. So the Chinese could easily screw the Saudis by tightening and loosening the currency at time advantageous to themselves. Will they? Yes; it's basically the Scorpion and the Frog.
I suspect this is mostly talk to get concessions out of the US. In 2015, the Chinese promised to make the yuan freely tradable by 2020. That didn't happen. So the Chinese could easily screw the Saudis by tightening and loosening the currency at time advantageous to themselves. Will they? Yes; it's basically the Scorpion and the Frog.