Revisiting the R5 Paradigm

... regional development institutions. In the 5 years that passed since the Valdai club introduced the R5 initiative several developments have rendered its implementation more feasible. As noted in the original Valdai article on the R5 concept, “the “R5 initiative” targets the use of the respective national currencies of BRICS countries – Rouble (Russia), Rand (South Africa), Real (Brazil), Rupee (India) and Renminbi (China) – within the BRICS+ circle and more broadly in the world economy. The elements of such a strategy may include measures to boost trade and investment among BRICS+ (cooperation ...