Revisiting the R5 Paradigm

... the regional integration blocks and the signing of the respective memoranda between the Eurasia Economic Union, MERCOSUR and ASEAN. The possible scope for the use of national currencies within the R5 paradigm has also been broadened in recent periods ... ... with “currency mismatches” and the fragilities associated with high levels of debt. The scope for de-dollarization in the global economy remains sizeable in view of the decades long “dollarization overstretch” and the imbalances that this has generated ...