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The Petroyuan Myth: War Failed to Shake the Dollar

The Petroyuan Myth: War Failed to Shake the Dollar
A Chinese bank employee counts 100-yuan notes and 100-U.S. dollar bills at a bank counter in Nantong, Jiangsu Province, China, on Aug. 6, 2019. STR/AFP via Getty Images
Antonio Graceffo
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Commentary

Despite sanctions and two wars, the yuan is losing ground, with much of its earlier rise tied to Russia and now reversing.

Antonio Graceffo
Antonio Graceffo
Author
Antonio Graceffo, Ph.D., is a China economy analyst who has spent more than 20 years in Asia. Graceffo is a graduate of the Shanghai University of Sport, holds an MBA from Shanghai Jiaotong University, and studied national security at American Military University.