It has a great impact on the world economy and international finance: 1. It has provided rich funds for oil-producing countries, promoted their economic development, changed the long-standing single economic structure, and gradually established an independent and complete national economic system.
2. It leads to new imbalances in the balance of payments of different types of countries and structural changes in the balance of international reserve forces.
For example, Russia, a major oil country, has been earning more oil due to the rise in oil prices.
3. Aggravated the turmoil in the international financial market.
After petrodollars entered the international market, on the one hand, it enriched the international credit power and met the demand of many countries for long-term and short-term loan funds.
On the other hand, a lot moves between countries.
Sometimes investing in stocks, sometimes investing in gold and countries, leading to stocks, gold and more volatile.