What can countries in BRICS do with rupees when India is
unable to produce anything worthwhile exporting for others to use their
currency? India must be able to export products that BRICS countries
want to buy to enable the rupee to be used in two-way trade. And even
then, India must produce products that can compete with the likes of
China.
India can export its workers, it's co-called population
dividends, to other countries and be paid in rupees, LOL. Singapore
should pay Indian workers in rupees if it accepts exports to India to be
paid in rupees.
Even Russia is not in favor of accepting
rupees, with India exporting little to Russia while buying so much
energy and military weapons from Russia. Russia needs all the money to
fund its war in Ukraine, not rupees lying around and unable to be used
for purchases from China or anyone else.
India must work to set
up channels to facilitate the acceptance of the rupee first before
trying to force other countries to conform to its wishes. It is not
going to work. Putting the cart before the horse is not going to move
anything around.
Anonymous
Unemployed indian are most welcome to work in sinkiesland. Our man in white & pineapple muppet love to have you come over to build god kuanyew memorial. Our development bank of sindia will buy all your rupees & pay sillyporean as wages.
ReplyDeleteIndian workers also welcomed by Japan. That is what I heard. Dunno whether any CECA signed.
ReplyDeleteLike the Europeans now finding out the reality of accepting Ukrainian refugees, Japan is in for a rude awakening. Japan is already in deep trouble with its own economy and jobless citizens. The Indians will make it worse.
But Japanese workers are like Singaporean workers. They take it lying down. Japan also had tripartite policies involving Government, employers and employees working in harmony. No strikes, no protests, very peaceful business environment!