Interview: ‘BRICS is attempting to break the dollar’s hegemony’

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In his book Eclipsing the West: Eclipsing the West: China, India and the Forging of a New World, Vince Cable, a fomer member of the UK Cabinet as Secretary of State for Business, Innovation and Skills as well as President of the Board of Trade, argues that we are in the final stages of Western hegemony.

The future is multilateral, controlled by what he calls “superstates”: countries large enough to shape but not dominate the international system. The three superstates in his view: The United States, China and India. Where the book really shines, though, is when comparing the two Asian giants. Cable is a rare person who understands both India and China well.

He is largely positive about India but is also realistic. “I am bullish and at the same time recognise that the current performance is well below potential,” Cable told Scroll in an interview, arguing that India has failed to develop manufacturing in a way that China had.

Excerpts from an edited interview:

Do you think that...

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