SCO Summit: India Doesn't Want To Replace US Dollar With Chinese Yuan
The SCO 2024 summit is showcasing India ’s growing di SCO ntent with China and its advancement of pushing the Chinese yuan for trade settlements and not the US dollar. The first dilemma came when India ’s Prime Minister Narendra Modi decided to skip attending the SCO 2024 summit in Kazakhstan. India ’s Foreign Minister S Jaishankar is at the event with a delegation. Also Read: China Advances De-Dollarization Agenda At the SCO 2024 Summit China is advancing the de-dollarization agenda at the two-day SCO 2024 summit. Its counterpart Russia is also puppeting China’s stance to use local currencies for trade and not the US dollar. Russia wants buyers for its crude oil to pay either in the Chinese yuan or Russian ruble. Both countries want to convince SCO members to trade in local currencies and sideline the US dollar. Also Read: 10 New Countries Might Join BRICS in 2024 India is unhappy with the push as the country is disinterested in using the Chinese yuan for pa...