Overview

Click to expand overview
Ashok Swain, a prof of bid and struggle probe astatine Uppsala University successful Sweden, told Al-Monitor past week that Saudi Arabia joining the BRICS economical bloc would The BRICS Alliance welcoming Saudi Arabia could accelerate Chinese Yuan use for international settlements. Specifically, Professor Ashok Swain Professor Ashok Swain of Uppsala University’s Department of Peace and Conflict Research says Saudi Arabia joining the BRICS economic bloc “would accelerate the Professor Ashok Swain of Uppsala University s Department of Peace and Conflict Research says Saudi Arabia joining the BRICS economic bloc would accelerate the How Saudi Arabia Joining BRICS Could Boost Use of Chinese Yuan. Ashok Swain, a professor of peace and conflict research at Uppsala University in Sweden, told Al Saudi Arabia has held off formally joining the BRICS bloc of nations despite attending a meeting in Brazil last week, two sources said, finessing an issue that could upset

BRICS Alliance: Saudi Arabia Joining Could Accelerate Chinese Yuan Use, Professor Says

The potential inclusion of Saudi Arabia in the BRICS economic bloc is generating significant discussion about its implications for the global financial landscape. Specifically, Professor Ashok Swain of Uppsala University\'s Department of Peace and Conflict Research suggests this move "would accelerate the" international adoption of the Chinese Yuan.

According to Al-Monitor, Ashok Swain, a professor of peace and conflict research at Uppsala University in Sweden, believes that Saudi Arabia joining the BRICS economic bloc "would accelerate the" use of the Chinese Yuan for international settlements. This aligns with broader trends suggesting a move away from the US dollar in certain sectors.

How Saudi Arabia Joining BRICS Could Boost Use of Chinese Yuan

The prospect of Saudi Arabia, a major oil producer, utilizing the Chinese Yuan in trade agreements, particularly within the BRICS framework, could significantly alter the dynamics of global trade and finance. The BRICS Alliance welcoming Saudi Arabia could accelerate Chinese Yuan use for international settlements.

Professor Ashok Swain of Uppsala University\'s Department of Peace and Conflict Research says Saudi Arabia joining the BRICS economic bloc “would accelerate the” shift away from dollar dominance in some areas.

Despite attending a recent meeting in Brazil, sources indicate Saudi Arabia has held off formally joining the BRICS bloc of nations, "finessing an issue that could upset" existing relationships. This delay doesn\'t negate the long-term potential impact, however.

Professor Ashok Swain, a prof of bid and struggle probe astatine Uppsala University in Sweden, told Al-Monitor last week that Saudi Arabia joining the BRICS economical bloc would increase Yuan usage in transactions.

The situation remains fluid, but the potential for Saudi Arabia\'s involvement to influence the adoption of the Chinese Yuan in international trade, as highlighted by Professor Ashok Swain, is a key area to watch.

Top Sources

Related Articles