... the possibility of using Chinese Yuan for settlements in lieu of Saudi’s oil deliveries to China. Back in 2017 the Valdai Club advanced
the R5 initiative
that was meant to bolster financial settlements and transactions in the national currencies of BRICS members.
An extension of this initiative was the R5+ concept that involved the extension of the use of national currencies not only to BRICS members but also to the regional partners in regional integration arrangements and the respective regional ...
The regional BRICS+ format is the only feasible platform for economic integration alliances to be finally launched among the BRICS countries after an extended period of limited economic advances in the sphere of common economic integration
The regional BRICS+ format ...
... modernization for the developing economies reside in greater economic integration, development of human capital and digitalization. For all leading developing economies there is a tremendous scope for higher growth via reducing cross-regional inequality (the BRICS economies exhibit some of the highest levels of cross-regional inequality in the world), boosting housing development as well as more broadly the services and the consumer sectors of the economy.
Another driver for elevating growth in developing ...
Barriers preventing the wider use of BRICS national currencies in trade include currency swap mechanisms and BRICS exporters' preference not to use national currencies
This article explores systemic and market barriers preventing the wider use of BRICS national currencies in trade, including ...
... take sides in this forthcoming US-China rivalry. On the contrary, it is in their best interests to confront this bipolarity and to mitigate it to the extent possible with a new emphasis on multilateralism.
India, China and Russia are all members of BRICS and of SCO; Moscow could work harder making these institutions more efficient in reaching common denominators for even highly sensitive security and development issues. There is also a separate mechanism of the Russia-India-China trilateral consultations,...
... based on the western powers’ direct state intervention. However, nowadays, the global film industry is rapidly transformed by digital technology, as the tremendous success of Netflix streaming service clearly demonstrates. This situation offers the BRICS countries a chance to participate in the creation of a new, digital global film industry by jointly launching its own streaming service. Such an endeavour is not only commercially viable but also would shape the global cultural scene, making it ...
... further elevated with the signing of the “
Special and Privileged Strategic Partnership
.” Arguably, the partnership between the two countries has been successfully reflected in many instances at regional and global platforms.
India, along with BRICS member states, abstaining its vote during the United Nations
General Assembly referendum against Russia for its accession of Crimea in 2014 and Russia’s unequivocal support to India on the Kashmir issue are few cases in point.
Regarding strategic ...
On October 6, 2020, Russian International Affairs Council (RIAC) co-hosted a webinar “The Basics of BRICSology” as part of the 4th BRICS International School 2020 organized by the National Committee on BRICS Research (Russia)
On October 6, 2020, Russian International Affairs Council (RIAC) co-hosted a webinar “The Basics of BRICSology” as part ...
Within the framework of the Russian BRICS Chairmanship in 2020, the BRICS International School and the Сontest for BRICS young leaders are merged to identify the most promising projects and research papers to enhance practical cooperation among youth from BRICS countries and beyond
Within ...
... University Higher School of Economics, Moscow.
The new economic crisis, the economic “disengagement” of the United States and China, and America’s long-term policy of double-pronged containment of China and Russia are boosting the importance of closer BRICS cooperation on global economic governance. Specifically, it would do well to reduce its dependence on US-controlled economic institutions and tools. Gaining in significance is the elimination of the US dollar as the commercial payable and receivable ...
