Revisiting the R5 Paradigm

... initiative should be underpinned by the BRICS+ platform launched by China in 2017 and expected to be rekindled this year during China’s BRICS Chairmanship. The BRICS+ initiative has the potential to expand the scope for using national currencies via strengthening ... ... 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 ...