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<PublisherName>ejsss</PublisherName>
<JournalTitle>ELECTRONIC JOURNAL OF SOCIAL AND STRATEGIC STUDIES</JournalTitle>
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<EISSN/>
<Volume-Issue>Volume 3 Issue 3</Volume-Issue>
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<IssueTopic>Multidisciplinary</IssueTopic>
<IssueLanguage>English</IssueLanguage>
<Season>Dec 2022-Jan 2023</Season>
<SpecialIssue>N</SpecialIssue>
<SupplementaryIssue>N</SupplementaryIssue>
<IssueOA>Y</IssueOA>
<PubDate>
<Year>2023</Year>
<Month>01</Month>
<Day>31</Day>
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<ArticleType>Regional/Country Studies</ArticleType>
<ArticleTitle>Russia, India, and China Alliance – Towards balancing the world order</ArticleTitle>
<SubTitle/>
<ArticleLanguage>English</ArticleLanguage>
<ArticleOA>Y</ArticleOA>
<FirstPage>328</FirstPage>
<LastPage>350</LastPage>
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<Author>
<FirstName>Ridipt</FirstName>
<LastName>Singh</LastName>
<AuthorLanguage>English</AuthorLanguage>
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<CorrespondingAuthor>N</CorrespondingAuthor>
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<DOI>10.47362/EJSSS.2023.3304</DOI>
<Abstract>The global financial order that emerged after the Second World War was primarily western-led with the USA as the center essentially making the international state system a unipolar one. The need for reforms in the global financial order has long been discussed citing the dangers of globalization that became evident after the 2008 global financial crisis and more recently after the Russian invasion of Ukraine in 2022. In response to the sanction being imposed, Russia has taken up initiatives to detach itself from the dollar-based global financial order where China and India are seen as potential partners. The research paper takes up the concept of the Primakov Doctrine and the current Russia-India China (RIC) trilateral as a possible strategic triangle that can counterbalance the western-led global financial order by adopting a common currency. The study covers the origins of the Primakov Doctrine, the geopolitical dynamics of the past, and possible reasons for its failure in the initial stages. Further, the research focuses on the current RIC format, its limitations, and how it can be transformed into a strategic alliance. The case of the de-dollarization effort is used to argue that it can be a common vision that the three countries can pursue which would act as the foundation for turning the current RIC into a strategic alliance. Taking examples of multilateral platforms like BRICS and SCO, the paper includes the relevance of RIC in the contemporary era in addition to the complications that India is likely to face given its ties with the USA, membership in the Quad, and the possibility of the RIC being perceived as an anti-west coalition. Using an empirical research approach with qualitative methods using information that is publicly available from secondary sources like academic literature, research articles, and official statements from the government, the research paper addresses the subsequent questions regarding the possibility of the formation of such an alliance and its feasibility. These questions include how can India and China become part of an alliance amidst border disputes, do Russia, India, and China qualify as an Optimum Currency Area or whether cooperation is possible without a common currency, what makes the contemporary era conducive for pursuing such economic framework and what implications such developments will have in the context of the Indo-Pacific. The paper provides policy recommendations based on case studies from other cooperating states and organizations regarding how a monetary union can be formed despite strained relations among states and the required preconditions to make such an initiative successful.</Abstract>
<AbstractLanguage>English</AbstractLanguage>
<Keywords>Primakov Doctrine, India, Russia, China, De-Dollarization, Common Currency, BRICS, SCO</Keywords>
<URLs>
<Abstract>https://ejsss.net.in/ubijournal-v1copy/journals/abstract.php?article_id=14313&title=Russia, India, and China Alliance – Towards balancing the world order</Abstract>
</URLs>
<References>
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<ReferenceslastPage>19</ReferenceslastPage>
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