In a commentary, SMU Assistant Professor of Strategic Management Geng Xuesong noted that China’s driving of the setup of the BRICS Development Bank with US$41 billion is a vital component of China’s strategy to internationalise the Renminbi, which challenges the existing international political and financial order, as well as the dominance of the US Dollar. He noted that it was not China’s intention to challenge the US, but to pave the way for developing countries. However, Assistant Prof Geng reckoned that the US would strive to protect its dominance.