The growing influence of BRICS financial institutions marks a significant shift towards a more democratic and multipolar global financial landscape.
Author
Anuradha Chenoy, Adjunct Faculty, O.P. Jindal Global University, Haryana, Sonipat, 131001, India
Summary
The growing importance of BRICS financial institutions indicates a gradual democratisation of the global financial landscape, where multiple currencies can be used, and countries’ strategic reserves can shift location and holding pattern, thereby providing a material basis to multipolarity.
Published in: Economic and Political Weekly
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