Title The difficult realities of the BRICS' dedollarization efforts - and the renminbi's role / Robert Greene

Published Washington, DC : Carnegie Endowment for International Peace, 2023 ©2023

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Description 1 online resource (29 pages) Series Working paper / Carnegie Endowment for International Peace Working papers (Carnegie Endowment for International Peace) Contents Introduction. -- The dollar's role in emerging markets. -- BRICS members' macroeconomic concerns about the dollar. -- How geopolitical concerns push BRICS members away from the dollar. --The renminbi's rise as a common BRICS currency. -- The usage of other BRICS currencies in cross-border trade. -- India's nascent efforts to grow the rupee's use. -- Conclusion. -- Notes Summary As the BRICS bloc expands, efforts by BRICS policymakers to increase global use of non-dollar currencies—particularly the Chinese renminbi—are accelerating. Washington should take note of how frustrations with the dollar are helping enable the rise of the renminbi in emerging markets and motivating strategic partners like India to push for greater use of non-dollar currencies Notes "December 2023"--Cover Bibliography Includes bibliographical references (pages 19-29) Notes Description based on online resource; title from PDF title page (Carnegie Endowment, viewed December 11, 2023) Subject Money -- Government policy -- BRIC countries Renminbi. International economic relations Renminbi SUBJECT BRIC countries -- Foreign economic relations Subject BRIC countries Form Electronic book Author Carnegie Endowment for International Peace, publisher

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