The BRICS group is still young as an organization, but has already proven its effectiveness. Brazil, Russia, India, China, and South Africa are coordinating their policies on key international issues ever more closely, and are playing an active part in shaping a multipolar world order and developing modern models for the world’s financial and trading systems.
If there is ever going to be a fiat trade currency that packs serious competition against the dollar, this is it. The Chinese yuan is on the rise. According to Standard Chartered Bank, usage of the Chinese currency to settle trade accounts has expanded 21 fold over the last five years alone
Accepting that bulging trade deficit with China is “not a good news”, Commerce Minister Nirmala Sitharaman said a lot of effort is underway at different levels to provide more market access to Indian products in that country