Сonsolidation of the BRICS Countries Positions — a Factor of Intensification of the World Community Development on the Basis of International Law in Defiance of the “Global Rules” That Meet the Interests of the USA

Perskaya, Victoria V.

doi:10.33917/es-6.164.2019.60-66

Cited by 2 publications

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“…When it evolves, it is going to have different iterations. That will be key to stabilisation of the global arena, which is currently in a very vulnerable context [12].…”

Section: Analyzing Suggestions For the New World Economic Ordermentioning

confidence: 99%

The BRICS Mechanism as a Platform to Support Russian Interests in the Hostile Global Economic and Financial Environment

Жариков

2023

Review of Business and Economics Studies

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The purpose of writing this paper is to show the changes that happened over the past two decades in the role of the BRICS economies in the world financial system and the world economy in general. Methods. Using comparative analysis techniques, the author shows the positions of the major centers of the global economy in terms of both their GDP numbers measured at official exchange rates and purchasing power parity. The results of this article include suggestions for the new world economic order, a reform of the world financial system, and the creation of a financial safety network for the BRICS during the period of rising global prices, key interest rates and debt. The practical significance of the paper is that its main conclusions and recommendations can be used when formulating strategies for further development of the BRICS cooperation mechanisms, such as the New Development Bank and a network of mutual currency agreements to support trade and investment within the BRICS as well as their partners.

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“…When it evolves, it is going to have different iterations. That will be key to stabilisation of the global arena, which is currently in a very vulnerable context [12].…”

Section: Analyzing Suggestions For the New World Economic Ordermentioning

confidence: 99%

The BRICS Mechanism as a Platform to Support Russian Interests in the Hostile Global Economic and Financial Environment

Жариков

2023

Review of Business and Economics Studies

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“…В результате многочисленных финансовых, экономических, политических, социальных, эпидемиологических кризисов первых двух десятилетий XXI в. среди ученых всё большую поддержку находит такое устройство мировой валютной системы, которое благодаря конкуренции валют ведущих стран мира способно обеспечить стабильное, устойчивое развитие. В обновленном виде оформилась идея валютного полицентризма через механизм интернационализации валют крупнейших стран мира [11]. Тем не менее, проекты интернационализации валют отдельных стран мира, например стран БРИКС, на современном этапе развития валютного полицентризма не реализованы полностью, поскольку требуют существенных компромиссов и уступок в национальной политике, а именно:…”

Section: плюралистичность мировой валютной системыunclassified

Currency pluralism in Asia in the Period of the Corona-Crisis

Жариков

2021

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The growing interest in this topic is partly a result of the increasing attention that countries are turning to sovereign monetary systems, payment systems and e-settlements due to international sanctions towards Russia and some Asian countries as well as the necessity to overcome the negative impacts of the COVID-19 crisis. The research focuses on regional and international monetary relations and is aimed at creating hedging mechanisms of financial risks and decreasing volatility of exchange rates to stabilize both balance of trade and current-account balance. The paper investigates the approaches to diversify currency risks of the countries subject to various sanctions and accompanied by the COVID-19 crisis by means of an increasing use of national currencies in cross-border transactions within the regions. The objective of the research is to develop recommendations for Asian and Russian fiscal and monetary policy authorities and central banks in the form of analytical materials that would systemize the operations of the national currencies’ offshore markets. The practical significance of the paper is the opportunities provided by an increasing use of the leading Asian and Russian currencies to incentivize the bypass channels of incoming capital, evading international sanctions and overcoming the COVID-19 crisis. The theoretical relevance of the study is to enrich the toolkit of offshore national forwards for stabilizing exchange rate policy in the context of the COVID-19 crisis. The findings and conclusions bring new insights into the role of offshore markets which allow the sanctioned countries to solve their current problems and overcome the COVID-19 crisis based on the growing pluralism of the world monetary system.

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Сonsolidation of the BRICS Countries Positions — a Factor of Intensification of the World Community Development on the Basis of International Law in Defiance of the “Global Rules” That Meet the Interests of the USA

Cited by 2 publications

References 0 publications

The BRICS Mechanism as a Platform to Support Russian Interests in the Hostile Global Economic and Financial Environment

The BRICS Mechanism as a Platform to Support Russian Interests in the Hostile Global Economic and Financial Environment

Currency pluralism in Asia in the Period of the Corona-Crisis

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