Is China planning to 'own' the Petro$ and by extension the Euro$ Market?
One problem with this
The Eurodollar market at least had control of pricing via LIBOR That ended in September and SOFR is now the onshore benchmark
What benchmark thus would China use/create to effectively price this new offshore dollar pool ?
One problem with this
The Eurodollar market at least had control of pricing via LIBOR That ended in September and SOFR is now the onshore benchmark
What benchmark thus would China use/create to effectively price this new offshore dollar pool ?