Russia, China, India and Iran can create a new currency, but with one feature


Tehran came up with a proposal to create an international currency for settlements between Russia, Pakistan, India, China, Iran and other states that are members of the Shanghai Cooperation Organization.


The introduction of a currency, in particular, will contribute to a more complete disclosure of the economic potential of the SCO, and Russia will play a significant role in this. Moscow may eventually transform this organization (which is actually the Eurasian Union) into political structure like the Union State of Russia and Belarus. Wherein economic cooperation should be actively developed within the framework of the SCO.

In this regard, the introduction of a new currency is beneficial for Russia, since it can be tied to the main export goods of the Russian Federation. In addition, it is likely to be tied to the national currencies of the member countries of the organization, the main of which is the Russian ruble, which will serve to strengthen it.

Meanwhile, the main feature of the new currency will be that it will be intended specifically for international trade and will not replace national ones. Otherwise, this could carry risks for the economic security of the SCO members.

At the same time, it is important to note that, along with Russia, one of the main roles in the SCO is played by China, which is striving to expand the role of the yuan in regional trade. This may become a certain obstacle on the way to the implementation of this innovation.

The main impact that the new currency could have on regional and international trade is a painful blow to dollar dominance. The SCO countries comprise about 40 percent of the world's population. In the future, other countries may join the organization: Vietnam, Sri Lanka, Qatar, Turkey, Saudi Arabia, etc. The growth rates of the economies of this region are on average noticeably higher than the world average.

Along with this, the currency offered by Tehran can become an analogue of the transferable ruble - the first non-cash international currency. At the moment, it is able to fulfill the role of digital.
  • Used photos: kremlin.ru
16 comments
Information
Dear reader, to leave comments on the publication, you must sign in.
  1. steelmaker Offline steelmaker
    steelmaker 6 June 2022 14: 14
    -3
    No need to reinvent the wheel. Gold, silver and other precious metals. Everything else is just to deceive Russia!
  2. Bulanov Offline Bulanov
    Bulanov (Vladimir) 6 June 2022 14: 41
    +1
    It is quite possible to take 1 kW as a basis and name a new currency - energy.
  3. Sergey Pavlenko Offline Sergey Pavlenko
    Sergey Pavlenko (Sergey Pavlenko) 6 June 2022 14: 59
    +1
    And why did the author place Nazarbayev on the main photo ... since he is no longer overboard ???
  4. Jacques sekavar Offline Jacques sekavar
    Jacques sekavar (Jacques Sekavar) 6 June 2022 18: 14
    -2
    In the union state formation, for many years they have not been able to agree on common banknotes, but it would seem that both are under sanctions, both are limited in the use of currency, both have the Soviet experience of a transferable ruble (you don’t even need to come up with a name so as not to infringe on patriotic feelings) which was intended specifically for international trade and did not in any way infringe on the national banknotes of the state formations that were part of the CMEA.
    Against this background, all initiatives on alternative banknotes to the dollar and euro within the framework of the CIS, the CSTO, the SCO, Brix and any other, appear to be nothing more than fantasies.
    There are many different conjectures on the topic of abandoning the dollar. It seems that after the formation of the three main world centers on the basis of the current US-EU-PRC, it is their banknotes that will be in use, and what they will be called is not important.
  5. Neville Stator Offline Neville Stator
    Neville Stator (Neville Stator) 6 June 2022 21: 45
    +2
    Well, that seems like good news to me. End the dictatorship of the dollar
  6. Oleg Rambover Offline Oleg Rambover
    Oleg Rambover (Oleg Pitersky) 6 June 2022 22: 16
    -2
    At the same time, it is important to note that, along with Russia, one of the main roles in the SCO is played by China, which is striving to expand the role of the yuan in regional trade.

    The author is a joker. Directly "along with Russia"?
    About the yuan is rightly noted, it is a real candidate.

    The SCO countries comprise about 40 percent of the world's population.

    And how many of them in China and India chew?
  7. Rustem Offline Rustem
    Rustem (Rustem) 7 June 2022 07: 39
    0
    In this regard, the introduction of a new currency is beneficial for Russia, since it can be tied to the main export goods of the Russian Federation. So Iran has the same structure of domestic production and exports as the Russian Federation. He does not forget himself in the conditions of sanctions. The Chinese, as a country producing goods with high added value, will simply be surprised why commodity countries are climbing the financial Olympus. And why should they now cut the branch on which they are sitting. Substitute the US, Japan and the EU as 80% of its export markets. In their Eastern wisdom, it is better to wait until the corpse of the enemy itself floats along the river of time for the sake of their patient waiting and adaptation. And even when the corpse floats by, international trade is optimized. It will be easier for countries to equalize their trade balances. There will not be one group of countries at the expense of others, where all the added value from trade will flow and concentrate. Raw materials will become more valuable and manufacturing countries will have to start sharing margins with less developed countries. But the creditworthiness of counterparties in international trade will not disappear. This is exactly where the accumulated positive balance should be converted into gold, as a showcase of creditworthiness. In order for trade to turn out to be efficient, blockchain will be replaced for state currencies, backed by accumulated gold from a positive balance of foreign trade. Rare gold on earth and in counterparties, in order to cover the entire turnover of foreign trade in the world, must grow. The rise in gold prices will cause an increase in its supply due to the use of mothballed expensive technologies that are self-sustaining in the new price conditions.
    1. Jacques sekavar Offline Jacques sekavar
      Jacques sekavar (Jacques Sekavar) 7 June 2022 09: 18
      0
      Life may not be enough to wait for the corpse of the enemy to float along the river of time, and if you're lucky and you wait, it's not a fact that international trade is being optimized. As a rule, this is inevitably followed by troubled times associated with the struggle for power and the redistribution of what has already been divided.
    2. Bulanov Offline Bulanov
      Bulanov (Vladimir) 7 June 2022 13: 33
      0
      And why should they now cut the branch on which they are sitting. Substitute the US, Japan and the EU as 80% of its export markets.

      When the United States squeezes more than a trillion dollars from China, as they squeezed out from Russia earlier, then it will be too late for the Chinese to talk about a new currency. Or is it too late?
    3. Smirnov Sergey Offline Smirnov Sergey
      Smirnov Sergey (Smirnov Sergey) 8 June 2022 12: 00
      0
      Physical gold is unlikely to be needed, the gold standard was abandoned because there was no physical gold in the required amount, but gold is well convertible into any of the currencies and any goods or even services can be purchased with it.
  8. k7k8 Offline k7k8
    k7k8 (vic) 7 June 2022 10: 37
    0
    the main of which is the Russian ruble, which will serve to strengthen it

    Does the author seriously think that China with its yuan will quietly smoke on the sidelines?
  9. special correspondent (oleg) 7 June 2022 11: 23
    0
    ... In addition, it is likely that it will be linked to the national currencies of the member countries of the organization, the main of which is the Russian ruble, which will serve to strengthen it. ...

    - well, but it's not more important than the yuan, is it? Yes, and about the Indian rupee is also ambiguous. Currently, the rupee is in a better position than the ruble.
  10. Choro Kyrgyz Offline Choro Kyrgyz
    Choro Kyrgyz (Choro Kyrgyz) 7 June 2022 16: 30
    0
    It will mean like the euro. ASIO))
  11. Romutis 1 Offline Romutis 1
    Romutis 1 (Romutis 1) 8 June 2022 10: 35
    0
    The terms of creation are named, or is it from the area of ​​​​the obvious and incredible ???
  12. Smirnov Sergey Offline Smirnov Sergey
    Smirnov Sergey (Smirnov Sergey) 8 June 2022 11: 28
    0
    I think they make it harder. Calculating currencies based on a basket of goods and currencies is difficult, even more difficult with collateral. Tie her to gold. Bring back the gold standard. So the conversion will be simple and the mechanism with the provision is clear.
  13. Oleg Koneev Offline Oleg Koneev
    Oleg Koneev (Oleg Koneev) 9 June 2022 12: 03
    0
    I propose to call, ruble.