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Opinion

China missed its moment to shine in oil trading

When Texas crude prices went negative, Shanghai's risk-bound market froze

Fraser Howie
| China
The launch ceremony of Shanghai crude oil futures at INE on March 26, 2018: when opportunity knocked, China was not ready.   © Reuters

Fraser Howie is co-author of "Red Capitalism: The Fragile Financial Foundations of China's Extraordinary Rise."

This could have been the moment for China to emerge as a global trading center for oil futures.

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