The Petro-Yuan, One Belt One Road, and Chinese Economic Grand Strategy
In the global financial balance of power, China is on a collision course with the United States. Unlike the U.S.’s rapid ascension following World Wars I and II, China has taken a slow and methodical approach to surpass U.S. economic influence, mainly through subverting the dollar and creating trade links through the One Belt One Road initiative. The Chinese 30-year plan , with the ultimate goal of becoming a “global leader in terms of composite national strength and international influence,” demands that it challenge nearly a century of U.S. dominance. The question remains, will they choose to play within the western dominated global order or against it? Their deeds indicate the latter. The introduction of the petro-yuan, the One Belt One Road initiative, and smaller projects such as the recent peso-yuan trading facility are clear attempts to de-dollarize global trade and increase China’s economic sphere of influence. The Petro-Yuan In 1974 , President Nixon made an agreem