External Affairs Minister S Jaishankar has spoken big about global geopolitics and the changing global economy. He cited the changing attitude of America and the rise of China as two major factors in the current global scenario. Speaking at the Munich Leaders’ Meeting, Jaishankar said China’s rise is rapidly changing today’s global political and economic order.
S Jaishankar said that there has been a big change in America’s situation. According to him, America has become, in a way, a more solitary power by choice. On the other hand, the rise of China is another major feature of this changing global scenario. He said that China sees itself as a different kind of power and in many ways this idea is also a reality.
Impact of US-China rivalry on the whole world
External Affairs Minister S Jaishankar said that today’s competition is not only limited to America and China. It is also affecting the rest of the world. Now any advantage or advantage available to any country is being used as a kind of weapon.
He said this competition is increasing at a time when the world’s economies are highly interdependent. That is, on one hand there is competition between countries and on the other hand there is interdependence in trade, supply chain, technology and other sectors.
S Jaishankar spoke about the need for a Goldilocks scenario
Amid the changing global environment, Jaishankar expressed the need for a balanced approach for countries. He pointed to a situation where countries should cooperate with different countries and groups according to their interests, instead of being completely aligned with one power.
This kind of balance in global politics and economy is seen as a Goldilocks scenario. This means where the situation is not too bad or too tense, but a balanced environment of growth and cooperation is maintained for the countries.
Relations with America and China, but according to individual interest
External Affairs Minister S Jaishankar said that emerging and middle power countries will increase cooperation among themselves and will also work with the US and China. These countries will seek to strengthen mutual cooperation where their interests do not conflict.
Citing the example of the Quad, he said new models of such cooperation are emerging among many countries. In the area of connectivity, projects such as the India-Middle East-Europe Economic Corridor, the International North-South Transport Corridor and the Northern Sea Route are also part of this changing global order.
Why are groups like the BRICS increasing their power?
S Jaishankar also mentioned BRICS. He said that many countries feel that their collective voice can be stronger than individual voices.
He also cited the example of International Solar Alliance and Coalition for Disaster Resilient Infrastructure. Both initiatives were initiated by India. He said that when countries’ interests converge, they come together and find ways to work, create agendas and create new organizations.
