The global South’s drive to de-dollarize global trade doesn’t just involve the oil or energy goods sector – after Saudi Arabia’s commitment to trade energy goods in US currency (the well-known petrodollar) ends. As these states are world leaders in the commodity market, they are attempting to expand the economic fields in which transactions will …
Tag: wheat
Commodity Prices at New Heights for 2021
Given that the Covid-19 pandemic caused the cessation of all kinds of travel, it made sense that demand for oil would drastically reduce during the pandemic (2020). But other commodities have had particularly good returns over the past year. Low interest rates have made priceless metals such as gold valuable and incredibly attractive, passing $2000 …