As the credibility of the dollar continues to collapse, the world has begun to find ways to avoid the dollar to do business, and even establish its own currency settlement system, some time ago Brazilian President Lula was talking about this, wanting to establish a currency like the euro used by the European Union, that is, their own common South American currency.
Recently, the BRICS foreign ministers' meeting was held in South Africa, according to Bloomberg, South African Foreign Minister Pandore also said after the meeting that in order to avoid the negative impact of sanctions on the economy, BRICS countries are studying a common currency that can replace the US dollar for international trade.
There are five BRICS countries, namely China, Russia, Brazil, India and South Africa, none of which have not been sanctioned by the West, so it is necessary to study an effective monetary solution in order to improve their ability to resist risks. But unexpectedly, India talked about a topic that had little to do with the theme of the meeting - Security Council reform.
Indian Foreign Minister Jaishankar Jaishankar said that the current situation of economic rights in the international community is "too concentrated"! This has resulted in most countries being subject to a few countries. So to reform this situation, here is the reform of the UN Security Council.
This is the first information point, when everyone is discussing how to jointly combat external risks, India jumps out and talks about him. As everyone knows, after the outbreak of the Russian-Ukrainian conflict, Western countries have been eyeing Russia's permanent membership in the United Nations and are bent on kicking it out of the United Nations. And India jumped out at this time to say that it wants to reform the UN Security Council, which is a bit intriguing.
The second information point is that after the meeting, some Indian media came out to express their position, saying that India should carefully choose whether to participate in the establishment of the BRICS common currency. The reason can be summed up in one sentence: fear of affecting India's own economic development! The first is that India's influence in the BRICS countries is no match for China, and after de-dollarization, India's economic trade is easily affected, and even develops into a new system dominated by China; Secondly, India's national currency, the rupee, is not very liquid, and if a new currency is used, India's existing settlement system may be affected.
In fact, India will raise these issues, we are not surprised at all, the introduction of our Chinese enterprises from India, help them develop the economy, and because we are afraid that we will seize their local market share in India, vigorously crack down on and sanction our Chinese enterprises, we have long seen the true face of India's selfishness and short-sightedness.
It can be seen that India will become a great destabilizing factor in the establishment of a common currency by the BRICS mechanism. In the case of internal unity, the progress of any idea will be difficult and slow.
It is understood that as many as 19 countries are interested in applying to join the BRICS organization, including Iran, which has been very close to China and Russia in recent times. India has played its own small calculations in the past two years, blocking the footsteps of many countries entering the BRICS, but as more and more countries want to join the BRICS and their strength is getting stronger and stronger, can India still stop it?