At G20, the End of Old Multilateralism – and The Beginning of a New Order

Context:

The post-Cold War era witnessed a surge in multilateralism as nations sought to address global challenges through cooperative efforts.

• Over time, there has been a shift from both global and regional multilateralism towards more focused and specialised forums, reflecting evolving geopolitical dynamics.

Historical Context:

• Post-Cold War Multilateralism: The end of the Cold War created favourable conditions for intensive multilateral cooperation, with Europe and Asia witnessing significant regional integration efforts.
• European and Asian Regionalism: Europe, under the banner of the European Union, and Asia, through ASEAN, embarked on regional economic and political cooperation.
• China’s Integration into the Global Economy: China’s economic integration into the global system, including its membership in the World Trade Organization in 2001, transformed it into the world’s second-largest economy.

Contradictions in Multilateralism:

• Russian Occupation of Crimea: Russia’s annexation of Crimea in 2014 marked a major crisis in the post-Cold War security order, straining relations with Western countries.
• China’s Unilateral Actions and Manipulations: China’s unilateral efforts to alter borders with neighbouring countries and economic coercion have disrupted regional stability.
• Reversal of Key Policies by Xi Jinping: Xi Jinping’s shift from Deng Xiaoping’s policies of peaceful periphery and common prosperity has challenged global and regional institutions.
• Intensifying Tensions with Russia and China: Recent geopolitical shifts, including the Ukraine crisis involving Russia and China’s assertiveness in the Asia-Pacific area, have placed significant pressure on established multilateral frameworks.

Rise of New Security Institutions:

• Quad and its Objectives: The Quad, involving the US, Japan, Australia, and India, seeks to deter unilateralism and territorial expansion while complementing ASEAN’s efforts in the Indo-Pacific.
• AUKUS and Northeast Asia Trilateral Compact: New security partnerships like AUKUS and trilateral compacts in Northeast Asia have emerged to address regional challenges, raising questions about the centrality of ASEAN.

De-risking Economic Interdependence:

• India’s Shift from Multipolar to Unipolar Asia: India’s evolving perspective, from countering US unilateralism to addressing China’s dominance in Asia, reshaped its strategic approach.
• Embrace of Indo-Pacific Concept: India embraced the Indo-Pacific concept, strengthening military-strategic cooperation with key partners in the region.

India’s Opportunities:

• Role in Indo-Pacific Quadrilateral Forum: India’s participation in the Quad, alongside the US, Japan, and Australia, offers a platform to promote regional stability, security, and rules-based order in the Indo-Pacific.
• Expanding the G20’s Ambit: India aims to broaden the G20’s agenda, focusing on addressing the concerns of developing nations, thereby promoting global economic stability.
• Promotion of Balanced Globalisation: India seeks to advocate for a form of globalisation that benefits all nations, reducing over-reliance on China and promoting equitable economic distribution.

India’s New Multilateralism at Jakarta and Delhi Summits:

• Quad’s Complementary Role: India emphasises that the Quad complements ASEAN’s efforts, focusing on regional stability and security without competition.

• Focus on “Re-globalization”: India advocates for diversified and democratic globalisation to reduce dependence on China and ensure a more balanced global economic landscape.
• Pursuit of Collective Solutions: India actively broadens the G20’s agenda, addressing various global issues beyond specific crises, including modernising the global tax regime and reforming multilateral development banks.
• Concerns of the Global South: India works to bridge gaps between developing and developed countries, promoting North-South cooperation amid escalating East-West tensions.

Way Forward

• Strengthening India’s Role in Quad and G20: India should continue to enhance its leadership and active participation in these forums, contributing to regional and global stability.
• Promoting Inclusive Globalisation: India can advocate for a more balanced and inclusive form of globalisation, reducing dependency on any single nation or entity.
• Nurturing North-South Cooperation amidst East-West Tensions: India can crucially mediate cooperation between developed and developing nations amid rising East-West tensions, fostering global stability and prosperity through North-South bridge-building.

News Source: The Indian Express