Why does China launch crude oil futures now? Because this is a major event related to the smooth development of China's economy in the future!
If you were born in the 1990s, you should remember how people suffered from high oil prices about 10 years ago.
At the worst time, a barrel of oil sold for more than $65,438+000. China works hard every year to make clothes and shoes for foreign exchange, and finally all depends on imported crude oil.
But at that time, China could only submit to humiliation, because its strength was not enough, and because the pricing power of crude oil was not in its own hands, but in the hands of the United States.
Due to the soaring price of crude oil, Russia made a fortune by exporting crude oil and began to take an offensive against neighboring countries.
Obviously, the United States does not want Russia to become bigger, so it began to short oil prices and keep them low.
As a result, the Russian economy immediately showed its true colors, but they still insisted on a positive relationship with the United States.
But now Russia has shown signs of fatigue. If they fail, the United States may raise the price of crude oil again to curb China's economic development.
Because China is now the largest importer of crude oil in the world, the increase of crude oil price will inevitably increase the cost of China's economic operation.
In order to prevent this, China must quickly launch crude oil futures and seize the pricing power in the hands of the United States.
At the same time, if China can seize the success, or at least seize part of the pricing power of crude oil, it will also help us win the Sino-US trade war.
There is a simple reason. The United States holds the pricing power of crude oil, which makes it necessary for the whole world to use US dollars for settlement when trading crude oil.
Since everyone uses dollars, every country has to hoard some dollars for trading, and then the dollar becomes the world currency, and the United States can levy a "seigniorage tax" on the world.
If China can partially replace the US dollar as the settlement currency for crude oil trading, then obviously the RMB will also become the world currency to a certain extent, China's economic strength will be greatly enhanced, and the difficulty of winning the Sino-US trade war will be reduced.