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China has begun importing record amounts of Canadian crude oil while slashing purchases of US oil by roughly 90% amid a growing trade war. A pipeline expansion in Western Canada has presented China and other East Asian oil importers with expanded access to the vast crude reserves in Alberta’s oilsands region. The deal resumes China’s oil imports while allowing the country to avoid making a new oil deal with the USA. JUST IN: China is importing record amounts of Canadian oil after cutting US purchases by 90% amid trade war. pic.twitter.com/H14ud0ZW7q — Watcher.Guru (@WatcherGuru) April 16, 2025 According to data from Vortexa Ltd., Chinese crude imports from the port at the pipeline terminus near Vancouver surged to 7.3 million barrels in March. On the flip side, Chinese imports of US oil have collapsed to 3 million barrels a month from a peak of 29 million in June. “Given the trade war, it’s unlikely for China to import more US oil,” Wenran Jiang, president of the Canada-Chi...

The de-dollarization drive is currently taking over the world. The greenback is now witnessing a surge in its enemies as new foes emerge to derail its value. The US dollar is currently at a precarious threshold, with ASEAN count ries expediting efforts to topple it. These countries are working on their own currency system, one that challenges the US dollar and the Euro. Singapore, one of the leading ASEAN nations, may suffer grave consequences if the de-dollarization drive gains momentum. Also Read: ASEAN: Indonesia’s Risks Amid De-Dollarization Push Singapore: De-dollarization Risks and Impact Source: iStock ASEAN nations are reportedly working on crafting their currency system. This currency system intends to rival the US dollar and unify the ten ASEAN blocs using a single currency on a global platform. However, launching a new currency and getting the required credibility to help push the currency to stabilize higher is a huge task. Potential & Economic Consequences In the meant...