Assistant Professor in International Relations Department, National Security Research Institute, Supreme National Defense University, Tehran, Iran
Abstract
The rapid and accelerating growth of China’s economic power in the global economic system has increasingly paved the way for its national currency to become one of the world’s recognized currencies. Among the most significant platforms for the yuan’s rise as an official international currency is the global oil and gas market. This study, using a descriptive-analytical method, seeks to analyze the opportunities and challenges surrounding the petro-yuan and its potential actors. In recent years, China has become the world’s largest oil importer, with major oil producers such as Iran and Saudi Arabia being among its primary suppliers. Meanwhile, the intensifying economic rivalry between China and the United States in recent years has further motivated China to take more determined steps toward establishing the yuan as an official global currency. The findings indicate that China faces numerous challenges and difficulties in globalizing its currency. The country’s instability and security vulnerabilities create a situation where its economic growth prospects are constantly at risk. Additionally, competition among political elites and territorial disputes with regional governments add to the obstacles China faces. Considering that the Islamic Republic of Iran has suffered significant harm from the United States’ hostile actions and misuse of the dollar, the petro-yuan presents a valuable opportunity for Tehran to safeguard its economy.
karimipour, D. (2024). Petro-Yuan and the Future of Currency Relations in the Global Oil Market: Implications for the Islamic Republic of Iran. Strategic Futures Studies, 3(9), 81-100.
MLA
karimipour, D. . "Petro-Yuan and the Future of Currency Relations in the Global Oil Market: Implications for the Islamic Republic of Iran", Strategic Futures Studies, 3, 9, 2024, 81-100.
HARVARD
karimipour, D. (2024). 'Petro-Yuan and the Future of Currency Relations in the Global Oil Market: Implications for the Islamic Republic of Iran', Strategic Futures Studies, 3(9), pp. 81-100.
CHICAGO
D. karimipour, "Petro-Yuan and the Future of Currency Relations in the Global Oil Market: Implications for the Islamic Republic of Iran," Strategic Futures Studies, 3 9 (2024): 81-100,
VANCOUVER
karimipour, D. Petro-Yuan and the Future of Currency Relations in the Global Oil Market: Implications for the Islamic Republic of Iran. Strategic Futures Studies, 2024; 3(9): 81-100.
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