Courtesy: Official Internet Resources of the President of Russia
Russia took charge of BRICS in January 2024 at a point of inflection in geopolitics and expanding influence for the bloc. As chair, Moscow aims to bolster cooperation along the lines of the BRICS’ three pillars to shift power away from the West and explore ways to engage potential members. Though China seems onboard, for India, neither of these pursuits must proceed too aggressively.
Courtesy: The Economist
After a year affected by a sustained polycrisis, global geopolitics in 2024 remains a delicate dance between hope and realism. Ongoing conflicts in Ukraine and Gaza cast uncertain shadows, while Taiwan and the South China Sea present potential flashpoints. Indian diplomacy will have to navigate old and new challenges, while promoting India’s expertise in digital technology, as also managing its own upcoming parliamentary elections.
Courtesy: ANI
The recent ASEAN Summit and East Asia Summits stressed the region's centrality and unity while also revealing its principal challenge: managing strategic contestation between the U.S. and China. The outcomes of both summits are reflective of ASEAN's diplomatic and strategic dilemmas in Southeast Asia and the Indo-Pacific.
Courtesy: X / Presidency Nigeria
The admission of the African Union to the G20 marks the multilateral's first ever expansion. The G20 will now speak for 80% of the world's population. For Africa, this means an opportunity to mainstream its concerns and priorities in global decision-making. Lastly, as the inclusion of AU in G20 took place during India’s presidency, New Delhi can enjoy the fruits of its creative diplomacy as Voice of the Global South.
Courtesy: X / Ministry of Culture
India’s presidency of the G20 has put a premium on its role as “the voice of the Global South”, even as it serves as the bridge between the Global South and the Global North. The upcoming Delhi Summit’s success will depend on India’s ability to balance diverse interests while broadening the areas of convergence and narrowing those of disagreement within the grouping.
Courtesy: ETF Stream
The U.S. dollar’s position as the world’s dominant currency has come under pressure as countries and central banks explore alternative currencies and diversify their reserve compositions. While the U.S. continues to dominate global financial markets and the dollar is unlikely to be unseated anytime soon, the challenge to the dollar-dominated uniform currency system has begun.
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The BRICS Summit in Johannesburg has drawn international attention to the grouping’s past record of achievements and failures, its strained internal dynamics, and new challenges. As BRICS heads into its 18th year, its success and way forward will depend on the members’ ability to tackle the principal challenge of retaining its internal solidarity while balancing expansion and its impact and influence in the world.
Courtesy: Kuwait Times
The 56th ASEAN Foreign Ministers Meeting in Jakarta reflected the grouping’s resilience amidst transformative geopolitical changes in the Indo-Pacific. Striving for unity and centrality, ASEAN tackled challenges posed by COVID-19, economic slowdown, climate change, and U.S.-China competition. However, internal differences on sensitive issues like Myanmar have tested its credibility.
Courtesy: The Week
To qualify for the IMF’s latest bailout, Pakistan has had to share accurate information on its economy including its debt to China. This confirms the speculation of Pakistan’s gigantic indebtedness to China.
Courtesy: The Times of India
On July 21, Sri Lankan President Ranil Wickremesinghe is set to visit for the first time since taking office. India has already provided $5 billion in economic assistance to Sri Lanka, and is now looking to expand its investment in the nation. Sri Lanka is also seeing interest from Indian private investment. The visit presents an opportunity for the two countries extend this relationship in new areas of cooperation, especially energy, infrastructure, and tourism.