Financial Settlements Within the BRICS Framework: Moving Forward, Despite Problems
... the big question is how politically acceptable this will be, for example, for India. That is, it is too early to talk about an analogue of the American dollar in BRICS in the form of the currency of one of the member countries? The question is whether China itself is ready to internationalize the yuan to the extent that the US dollar has today. Evelina Fokina: Institutionalization of BRICS: From Literature Review to Making Reality The fourth problem is the unbalanced and fragmented balance of payments when making payments in national currencies. This problem arises, for example, in trade relations between Russia and India, where the Russian side has a surplus of Indian rupees due to a significant excess of Russian exports over Indian imports. The problem is solvable. Indian business ...
