Billionaire from Israel: Mega deal with China for 8 billion in yuan!

Billionaire from Israel: Mega deal with China for 8 billion in yuan!

Israel's billionaire Idan Ofer is causing a stir! His company, Singapore-based Eastern Pacific Shipping, has struck a mega deal with China's Jiangnan Shipyard for six gigantic ethane carriers worth a whopping 56.7 billion in Chinese yuan, the equivalent of $8 billion! But the real hammer: Payment is not made in US dollars, but in yuan. In doing so, both parties are sending a strong signal against the dominance of the dollar , reports watcher.guru.

This coup comes at a critical time as BRICS member China increasingly wants to push its own currency, the yuan, as the preferred means of payment in international trade. Zambia was previously obliged to pay $2 billion in yuan for copper. With such mega deals, the US dollar could fall behind, which could significantly weaken the American economy , as the report on watcher.guru points out.

This latest deal points to a possible large-scale strategy by BRICS to reduce dependence on the dollar by promoting local currencies. What impact could this have on the global economy? It will be interesting to see how the global markets develop. That could cause quite a few surprises.