by India aims to consolidate its emerging leadership in the Global South, which explains the priority focus that’s now being given to internationalizing the rupee. Upon making significant progress on this, it’ll then be able to function as an independent pole of economic influence across Afro-Eurasia, taking full advantage of its geostrategic location to accelerate South-South integration processes.De-dollarization is the top financial trend of this decade, but it concerns much more than just the internationalization of China’s yuan – including its speculatively forthcoming petroyuan variant – and the Alt-Media Community’s unrealistically high hopes about BRICS’ planned reserve currency. One of the emerging aspects worth monitoring is the internationalization of India’s rupee, which is
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India aims to consolidate its emerging leadership in the Global South, which explains the priority focus that’s now being given to internationalizing the rupee. Upon making significant progress on this, it’ll then be able to function as an independent pole of economic influence across Afro-Eurasia, taking full advantage of its geostrategic location to accelerate South-South integration processes.De-dollarization is the top financial trend of this decade, but it concerns much more than just the internationalization of China’s yuan – including its speculatively forthcoming petroyuan variant – and the Alt-Media Community’s unrealistically high hopes about BRICS’ planned reserve currency. One of the emerging aspects worth monitoring is the internationalization of India’s rupee, which is proceeding apace and gradually generating more media attention....
India has a population comparable to China and while China's population is declining, India's is increasing. It's becoming recognized that India is going to play a major role in the 21st century. The rupee benefits from that. For example, India and Russia are now using their currencies for trade, avoiding the Western-dominated dollar/euro/pound-based financial system.
Andrew Korybko, American geopolitical analyst and independent journalist based in Moscow, and member of the expert council for the Institute of Strategic Studies and Predictions at the People’s Friendship University of Russia
There’s no doubt that BRICS’ planned creation of a new reserve currency will accelerate de-dollarization processes and advance financial multipolarity, but that’s very different from the dollar’s death that many folks prematurely predicted....Popular Expectations About BRICS’ New Currency Project Should Be Tempered
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