Proceedings of the 2019 2nd International Conference on Sustainable Energy, Environment and Information Engineering (SEEIE 2019)

Energy Finance Cooperation and Competition between China and U.S.

Authors
Xuming Qian
Corresponding Author
Xuming Qian
Available Online May 2019.
DOI
10.2991/seeie-19.2019.19How to use a DOI?
Keywords
energy finance; petroleum dollar; oil renminbi
Abstract

The oil dollar is at the center of the US hegemonic redistribution system. Maintaining the oil dollar pricing mechanism is not only conducive to maintaining its position in the international monetary system, but also has far-reaching significance for its control of the international oil market and the consolidation of US global hegemony. There are cooperation and competition between China and U.S. in this field. On the one hand, China has accelerated the internationalization of the renminbi and increased the use of the renminbi as an international energy currency, and expands the scope of international payment of Renminbi, increases the international recognition of “energy-renminbi” in BRI, and competes with the “Petroleum dollar”, On the other hand, it has accelerated the formation and improvement of the oil reserve and crude oil futures market, and has rid of the plight of China's lack of futures products such as crude oil, thus effectively coping with the fluctuation of oil prices.

Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 2019 2nd International Conference on Sustainable Energy, Environment and Information Engineering (SEEIE 2019)
Series
Advances in Engineering Research
Publication Date
May 2019
ISBN
10.2991/seeie-19.2019.19
ISSN
2352-5401
DOI
10.2991/seeie-19.2019.19How to use a DOI?
Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Xuming Qian
PY  - 2019/05
DA  - 2019/05
TI  - Energy Finance Cooperation and Competition between China and U.S.
BT  - Proceedings of the 2019 2nd International Conference on Sustainable Energy, Environment and Information Engineering (SEEIE 2019)
PB  - Atlantis Press
SP  - 82
EP  - 85
SN  - 2352-5401
UR  - https://doi.org/10.2991/seeie-19.2019.19
DO  - 10.2991/seeie-19.2019.19
ID  - Qian2019/05
ER  -