Saudi Arabia claims or abolishes the petrodollar agreement, the European Union wants to replace the dollar with the euro, and China and Russia also try their best to bypass the dollar. Is the era of t

HENGFENGYOU ELECTRIC

Saudi Arabia claims or abolishes the petrodollar agreement, the European Union wants to replace the dollar with the euro, and China and Russia also try their best to bypass the dollar. Is the era of the dollar really coming to an end?

Since the outbreak of COVID-19, the United States has been printing the dollar without restraint, resulting in global hyperinflation. It has also brought the risk of financial market and currency failure to the world. In particular, it has a great impact on our global export-oriented enterprises. The prices of bulk steel, copper, coal and other raw materials have risen sharply, and the freight has soared, which makes the trading parties miserable. Affected by the epidemic, the global infrastructure was shut down on a large scale, especially having a great impact on our global power distribution market. In 2021, the export of the whole power transformer,distribution transformer, electric furnace transformer and rectifier transformer decreased significantly, down 70% compared with the export data of transformer in the first half of 2020( Data from 2021 power transformer customs data).In addition, according to the PPI index released by the U.S. Department of…

View original post 530 more words

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.