The External Affairs Minister (EAM) while addressing the 20th BIMSTEC Ministerial highlighted the emergence of a New World Order which is regional and more agenda driven.
About Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)
- It is a regional organization that promotes cooperation among countries surrounding the Bay of Bengal
- Established: BIMSTEC was established in 1997 with the signing of the Bangkok Declaration
- Members: It comprises seven member states of the South and South east Asia namely,
- Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
- Secretariat: BIMSTEC Secretariat was established in Dhaka, Bangladesh
- Multi sectoral collaboration: Trade, technology, energy, transport, tourism, fisheries, agriculture etc
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About The Emerging World Order
- The “emerging world order” refers to a period marked by a complex and dynamic global system, characterized by a number of emerging and ongoing changes in global political thought and the balance of power.
- Features:
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- Multipolarity: The emerging world order is a multi-polar world order with multiple power centers asserting their autonomy and influence.
- Example: The rise of regional powers and the formation of blocs like BRICS, African Union, ASEAN etc.
About World Order
- It refers to the arrangement of power & authority that provides the framework for managing the global commons, such as the environment, trade, security, and human rights and the conduct of diplomacy and world politics on a global scale.
- It encompasses the norms, rules, institutions, and power dynamics that shape the behaviour and interactions of countries and other entities on the world stage.
- Example of World Orders in MOdern History:
- Westphalian World Order; Inter-World Wars Global order; Post WW-2 World Order; Post-Cold War World Order
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- Polycrisis: Shared global challenges like climate change, pandemics, terrorism, wars and conflicts and economic crises will be the defining feature necessitating greater cooperation and collaboration among nations.
- Self Reliance: Every country and region will need to rely on themselves for food, fuel, fertilizer, technologies, vaccines or speedy disaster response etc.
- Example: India secured Russian crude oil at a cheaper rate defying US and EU sanctions.Deglobalisation: The forces that are leading to deglobalization are becoming stronger manifesting itself in more nationalist and inward-looking policies adopted by the western world.
- Example: The US President announced a tariff trade war on a number of countries, including India (facing a 26 percent tariff)
- Rise of Minilateralism: It is a diplomatic approach where a small group of countries collaborate on specific issues or challenges, focusing on shared interests and goals allowing for faster decision-making and more efficient outcomes.
- Example: India collaborating with western powers in QUAD and with the rival Asian powers in Shanghai Cooperation Organisation (SCO)
- Focus on Regional Geopolitics: The emerging world order emphasizes on the growth of regional geopolitics, securing regional gains.
- Example: The success of the African Union and ASEAN in enhancing regional cooperation and connectivity enabling overall growth.
- Expansion of ‘Cyberspace Sovereignty’: The Internet and cyberspace which was once controlled by the US led rules is getting more decentralised with countries like China claiming its cyberspace sovereignty.
India’s Role in an Emerging World Order
- India, the acknowledged leader of the South, is transcending that role to play a larger global role in the emerging world order of the 21st century, touted as the Asian Age.
- Attributes Shaping India’s Rise on the Global Stage:
- Democracy: India is the world’s largest democracy which is non-western in nature and based on a free market
- Economic Rise: India is now the 4th largest economy in the world in GDP terms adding significant economic heft to its voice on international platform.
- Young Demography: India with its large young working age population leverages its demographic dividend.
- Geographical Location: India is situated at the centre of the global commerce linking the Atlantic to Pacific.
- Opportunities For India:
- Leadership of the Global South: India is increasingly being considered as the voice of the Global South with its inclusive, participatory and equality based leadership
- Example: India has announced its new vision for the Global South named ‘MAHASAGAR’ focusing on building a safe, secure, and stable maritime domain extending upto Global South.
- Engagement: India has always maintained strategic autonomy in its engagement with other powers.
- Example: The External Affairs Minister articulated India’s policy as “to engage America, manage China, cultivate Europe, reassure Russia, bring Japan into play, draw neighbors in, extend the neighborhood and expand traditional constituencies of support.”
- Digital Leadership: India with its digital governance platforms like UPI; COWIN; AAdhar ecosystem etc can provide digital leadership to the Global South.
- Example: NPCI has launched a feature called UPI Global Acceptance, allowing users to make QR code-based payments at select international merchant locations.
- Peacekeeping: India will be provided with an opportunity to play a peacekeeping role during conflicts of a large scale
- Example: India coordinated during the Russian- Ukraine war to evacuate its citizen from the war torn area.
- First Responder and Security Leadership: India is seen as providing the security leadership in the entire India Ocean and Indo Pacific Region against maritime piracy, smuggling, accidents etc.
- Regional Integration: India can play an instrumental role in integrating the South Asia – Indo Pacific landscape through trade, travel and connectivity.
- Example: The Trilateral Highway (India, Myanmar and Thailand) will connect India’s Northeast all the way to the Pacific Ocean
- Challenges for India:
- Deglobalisation: Rising Trade tensions with the western world along with weakening of global institutions like the WTO and UN hinders India’s growth and national interest
- Balancing Global Powers: India needs to balance its complex relationships with competing global powers like the US and China, Russia while also prioritizing its own strategic interests.
- Example: Engagement with Russia attracted sanction on India during the Russia- Ukraine War.
- Unstable Neighborhood: India has to deal with a politically unstable, economically debted, conflict prone neighbourhood.
- Example: The recent overthrowing of the Sheikh Hasina government in Bangladesh has soured the relationship with the country
- Climate Justice Leadership: India’s ability to address climate change while ensuring its economic growth will be seriously impacted given the Developed countries’ reluctance to fulfill their climate finance obligations
- The China Competition: India is in a direct competition with an economically and technologically superior China in this new world order.
- Example: China’s Debt trap policy is engulfing India’s Neighbour countries.
- Economic Uncertainties: Global trade disruptions due to crises and economic instability can impact India’s exports and economic growth.
Role of Multilateral Institutions in Shaping World Order
- Prevent Unilateralism: Multilateral institutions establish and enforce international norms, laws, and procedures, reducing chaos and unilateralism.
- Dispute Resolution Mechanism: Multilateral Institutions provide mechanisms for dispute resolution and ensure compliance with trade and security rules, contributing to a more predictable and peaceful international environment.
- Example: The WTO dispute resolution Mechanism.
- Facilitating Negotiations: These institutions like the International Monetary Fund (IMF) and the World Bank act as mediators in debt negotiations to find mutually beneficial solutions.
- Setting Standards and Guidelines: Multilateral institutions set guidelines and standards across all the aspects of international interactions like trade laws, cultural laws, climate policy, human rights etc.
- Example: The Principles for Responsible Sovereign Lending and Borrowing developed by the United Nations Conference on Trade and Development (UNCTAD).
- Humanitarian Assistance: Multilateral humanitarian operations assist the victims of natural disasters and man-made emergencies.
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Conclusion
India’s current economic progress and future strategic reforms along with its evolving demographics and strong democracy will potentially lead to India shaping the new world order especially through its consensus building collaborative approach with both the developed and the emerging nations.
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