[Biden's] liberal internationalism is proving to be costly. In case you missed it amid the war news, the Journal this week reported that Saudi Arabia is edging closer to accepting the yuan as payment for oil shipments to China. This is one more cost, and a potentially significant one, of the Biden Administration’s bungled handling of a strategically important ally. Details of the potential new Saudi-Chinese oil-trading arrangements remain vague. The two sides have talked for years about pricing some oil sales in yuan, and it may not happen. Some 80% of global oil sales are priced in U.S. dollars,...