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Asian Institute of Research, Journal Publication, Journal Academics, Education Journal, Asian Institute
Asian Institute of Research, Journal Publication, Journal Academics, Education Journal, Asian Institute

Journal of Social and Political

Sciences

ISSN 2615-3718 (Online)

ISSN 2621-5675 (Print)

asia insitute of research, journal of social and political sciences, jsp, aior, journal publication, humanities journal, social journa
asia insitute of research, journal of social and political sciences, jsp, aior, journal publication, humanities journal, social journa
asia insitute of research, journal of social and political sciences, jsp, aior, journal publication, humanities journal, social journa
asia insitute of research, journal of social and political sciences, jsp, aior, journal publication, humanities journal, social journa
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Published: 26 September 2024

The De-dollarization of China-Related Financial and Economic Systems: Precursors Movements via Aligned Economic Blocs

Murilo Rangel da Silva

Federal University of Rio de Janeiro

journal of social and political sciences
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doi

10.31014/aior.1991.07.03.517

Pages: 216-229

Keywords: De-dollarization, Belt and Road Initiative, Monetary Diversification, BRICS Plus, Global South

Abstract

This paper examines how de-dollarization is configured from a perspective of monetary diversifications, being an action of mutual interest between emergent economies that are part of the economic arrangements that China comprises. Currently, China’s trade and political processes are characterized by their own aspects due to their differences from the usual system of unilateralism and monopoly, which is based on the predatory capitalism of the central states. It is in China’s interest to project itself as a country based on an idea of commercial strength, monetary diversification, and weakening of the dollar through new economic arrangements. Within the process of contesting the dominant financial system, as historically identified since the 19th century, there has not been such a proactive participation of emergent states in aligning to change the status quo. Thus, relating new perspectives for analyzing the transformations of the international system. The paper’s findings reveal that the process of greater integration of peripheral economies, based on mutual cooperation institutions, is essential in structuring strategies that mitigate dependence on the dollar in the international economic and financial system. The paper proposes that China’s international trade policy is not limited to the role of BRICS Plus or the Belt and Road Initiative, but using a varied system of economic partnerships, formed by emergent economies, with such blocs integrated and centralized in China to create a more diversified financial environment for currencies.

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