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Sanctions within a Regime of
Neo-liberalism*
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Mar 7th 2022, Prabhat Patnaik
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Before
joining the neo-liberal order, India used to have "rupee
payment arrangements" with the Soviet Union and
Eastern European socialist countries under which the
main international reserve currency, the US dollar,
was used neither for settling transactions nor even
as the unit of account in terms of which the trade-related
transactions were denominated.
*
This article was originally published in People's
Democracy on March
13, 2022.
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