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De-Dollarisation and BRICS Currency Insights

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9 views7 pages

De-Dollarisation and BRICS Currency Insights

Uploaded by

dhruviiarya23
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd

Issue I: De-Dollarisation & BRICS Currency

🔍 Key Concepts & Full Forms

• De-Dollarisation: Reducing reliance on the US Dollar in global trade and finance.

• BRICS: Brazil, Russia, India, China, South Africa.

• CBDC: Central Bank Digital Currency.

• SWIFT: Society for Worldwide Interbank Financial Telecommunication.

• CIPS: Cross-Border Interbank Payment System (China).

• SPFS: System for Transfer of Financial Messages (Russia).

• RBI: Reserve Bank of India.

• IMF: International Monetary Fund.

• SDR: Special Drawing Rights.

What is De-Dollarisation?

• Refers to reducing reliance on the US dollar in global trade, finance, and reserves.
• Triggered by geopolitical tensions, sanctions, and desire for monetary sovereignty.

Historical Background

• Post-WWI: USD began replacing GBP as global reserve currency.

• Bretton Woods Agreement (1944): Established USD as the anchor currency, pegged to gold.

• Nixon Shock (1971): Ended gold convertibility, making USD a fiat currency.

Drivers of De-Dollarisation

• Sanctions & Weaponisation: US froze $300B of Russia’s reserves post-Ukraine invasion.

• Geopolitical Pushback: China, Russia, India, Brazil, and others now trade in local currencies.

• Alternative Systems:

o China’s CIPS

o Russia’s SPFS

o India’s Rupee Trade Mechanism

Recent Developments

• BRICS+ Initiatives: Push for local currency trade, CBDCs, and alternative payment
systems

India’s Role
• RBI promotes rupee internationalisation to diversify risks.

• Rupee trade mechanism launched in July 2022; 35+ countries interested.

• Economist Nouriel Roubini suggested rupee could become a global reserve currency.

Impact of De-Dollarisation

• Reduced demand for USD → depreciation risk.

• US influence in global finance may decline.

• Increased volatility in currency markets.

• Rise of other currencies (Euro, Yuan) in global trade.

Issue II: Syrian Civil War

🔍 Key Concepts & Full Forms

• HTS: Hayat Tahrir al-Sham.

• SDF: Syrian Democratic Forces.

• ISIS: Islamic State of Iraq and Syria.

• UN: United Nations.

• US: United States.

Background

• Began in 2011 during Arab Spring.

• Rooted in authoritarian rule, economic hardship, and political repression.

• Bashar al-Assad succeeded his father Hafez al-Assad in 2000.

Key Players

• Assad Regime: Backed by Russia & Iran.

• HTS: Islamist rebel group, now controls Aleppo and Homs.

• SDF: Kurdish-led forces in northeast Syria.

• ISIS: Exploited chaos, later suppressed.

• US & Israel: Conducted strikes; supported opposition and targeted Hezbollah.

Strategic Locations

• Aleppo: Recaptured by Assad, now under HTS.


• Idlib: HTS stronghold.

• Damascus & Homs: Under pressure from rebel advances.

Recent Developments

• Assad ousted; elections planned under interim President Ahmad al-Sharaa.


• HTS-led offensive reshaped control in northern Syria.

Static GK Additions

• Levant Region: Includes Syria, Lebanon, Israel, Jordan, Palestine, parts of Turkey.

• Capital: Damascus.

• Currency: Syrian Pound (SYP).

The Arab Spring was a wave of pro-democracy uprisings that swept across the Arab world between
2010 and 2012, leading to major political changes in several countries.

Overview

• Time Period: December 2010 – December 2012

• Region: North Africa and the Middle East (MENA)

• Trigger Event: The self-immolation of Mohamed Bouazizi, a Tunisian street vendor, in protest
against police harassment.

Causes

• Authoritarianism & Political Repression

• High Unemployment & Poverty

• Corruption & Kleptocracy

• Inflation & Economic Inequality

• Youth Discontent & Demographic Pressure

• Social Media Mobilisation

Major Countries Affected

Country Outcome

Tunisia President Ben Ali ousted; democratic reforms initiated

Egypt President Hosni Mubarak resigned; military took control

Libya Muammar Gaddafi overthrown and killed; civil war ensued


Country Outcome

Syria Protests escalated into a prolonged civil war

Yemen President Saleh stepped down; instability continues

Bahrain Protests suppressed; monarchy retained control

Methods of Protest

• Civil disobedience

• Demonstrations

• Internet activism

• Rebellion and insurgency

• Protest camps and mass gatherings

Impact

• Political Transitions: Some regimes collapsed, others reformed or intensified repression.

• Civil Wars: Syria, Libya, and Yemen descended into prolonged conflicts.

• Rise of Extremism: Power vacuums led to the emergence of groups like ISIS.

• Global Awareness: Highlighted the role of social media in modern revolutions.

Issue III: COP16 – UNCCD (Riyadh 2024)

🔍 Key Concepts & Full Forms

• COP: Conference of the Parties.

• UNCCD: United Nations Convention to Combat Desertification.

• UNFCCC: United Nations Framework Convention on Climate Change.

• CBD: Convention on Biological Diversity.

• VACS: Vision for Adapted Crops and Soils.

• ESG: Environmental, Social, and Governance.

• LDN: Land Degradation Neutrality.

• GGW: Great Green Wall.


• MENA: Middle East and North Africa.

Highlights

• Held in Riyadh, Saudi Arabia (Dec 2–13, 2024).

• First COP in MENA region; marks UNCCD’s 30th anniversary.

🇮🇳 India’s Contributions

• “Ek Ped Maa Ke Naam” tree-planting initiative.

• Mission LiFE promotes sustainable living.

• Aravalli Green Wall Project to restore 1.15M hectares.

Global Highlights

• $12B+ pledged for drought resilience.

• GGW aims to restore Sahel region.

• VACS received $70M for climate-resilient crops.

• Business4Land promotes ESG and private sector engagement.

Static GK Additions

• UNCCD: One of the three Rio Conventions (others: UNFCCC, CBD).

• Sahel Region: Semi-arid zone between Sahara and savannas.

• LDN Goal: Restore 1B hectares by 2030.

Issue IV: Ken-Betwa Link Project

Key Concepts & Full Forms

• KBLP: Ken-Betwa Link Project.

• NPP: National Perspective Plan.

• NWDA: National Water Development Agency.

• PM: Prime Minister.

• MW: Megawatt.

Project Details

• ₹45,000 crore project launched by PM Modi in Khajuraho.

• Aim: Address water scarcity in Bundelkhand.


Phases

• Phase I: Daudhan Dam, tunnels, link canal.

• Phase II: Lower Orr Dam, Bina Complex, Kotha Barrage.

Benefits

• Irrigation for 6.3 lakh hectares.

• Drinking water for 62 lakh people.

• 100 MW hydropower + 27 MW solar energy.

Environmental Concerns

• Threat to Panna Tiger Reserve: 10% core area may be submerged.

• 23 lakh trees to be felled; wildlife habitats at risk.

Static GK Additions

• Ken River: Originates in Kaimur Hills, MP; joins Yamuna.

• Betwa River: Originates in Vindhya Range, MP; joins Yamuna.

• Historical Proposals:

o Sir Arthur Cotton (19th century)

o Dr. K.L. Rao’s National Water Grid

o Garland Canal by Captain Dinshaw Dastoor

o National Perspective Plan (1980): Framework for river interlinking.

Issue V: India State of Forest Report 2023

Key Concepts & Full Forms

• ISFR: India State of Forest Report.

• FSI: Forest Survey of India.

• NFI: National Forest Inventory.

• CO₂e: Carbon Dioxide Equivalent.

• CAMPA: Compensatory Afforestation Fund Management and Planning Authority.

Highlights

• Published biennially by FSI since 1987.


• Forest & Tree Cover: 25.17% of India’s area.

o Forest: 21.76%

o Tree: 3.41%

• Increase of 1,445 sq km since 2021.

State Highlights

• Top Gains:

o Forest & Tree: Chhattisgarh, UP, Odisha, Rajasthan.

o Forest Only: Mizoram, Gujarat, Odisha.

• Highest Coverage:

o MP, Arunachal, Maharashtra.

o % wise: Lakshadweep, Mizoram, A&N Islands.

Other Insights

• Mangroves: 4,992 sq km (net decrease).

• Carbon Stock: 7,285.5 MT; progress toward 2030 goals.

• Bamboo: 1.54 lakh sq km (+5,227 sq km).

• Forest Fires: Uttarakhand, Odisha, Chhattisgarh most affected.

Static GK Additions

• Carbon Stock: Measured in CO₂e.

• Green India Mission: Part of India’s climate action plan.

• CAMPA: Manages afforestation funds.

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