The combined effects of the pandemic and recent geopolitical tensions have resulted in some of the world’s leading tech companies facing crises on multiple fronts. A fall in market capitalisation, along with a sharp decline in equity has resulted in shrinking market shares for many of these giants.
The restoration of diplomatic ties between Iran and Saudi Arabia marks the end of a seven-year marathon of indirect confrontations and impasses involving a broad spectrum of actors. It allows both to harvest economic and political benefits. Most importantly, it confirms China’s status as a significant power with influence to unlock broad and complex international agreements.
Courtesy: United Nations Economic Commission for Africa
The Indo-Pacific is viewed by powers within and outside the region as both a strategy and policy to interpret the changing geopolitical dynamics in Asia and beyond. But the question of its geographical and geopolitical definition has varied. Opinions among governments and academics have traditionally differed, but over the years, a viable consensus for a wider definition of the concept seems to have emerged.
The Ukraine crisis transferred global anxiety away from China and onto Russia. But this has not happened in the Indo-Pacific, where the Quad countries have followed a policy of economic disengagement from China, in the backdrop of the COVID pandemic and the regeneration of some economies. How the Quad managed this, is a worthwhile assessment.
Significant progress has been made globally in adopting green energy. Technological advances, easier availability of capital and regulatory measures have helped. But progress is likely to slow due to the shocks caused by Covid-19 and the Ukraine crisis. How to continue the green transition whilst ensuring that lower-income countries have access to affordable energy? This Task Force offers recommendations for India’s G20 Presidency.
Russia has been at the center of tensions between the G7 and G20. The current G20 and G7 Presidency has put Asia at the center of global problem-solving and collaboration. India and Japan through its existing strong bilateral and converging interests like economic and financial governance, health, climate commitments and energy transition can bridge the rift between the two multilateral groupings in 2023.
India is currently hosting the Voice of Global South Summit, in which over 120 countries will participate. This is the time, as G20 chair, for India to articulate the concerns of the Global South. To truly represent the South, India must understand the moods and changes in Africa, especially in its external partnerships
Japan’s recently released National Security Strategy document has pathbreaking commitments to strengthen Japan militarily. It reflects a dramatic change over the last decade, when the national threat for pacifist Japan was largely China. Now North Korea and Russia are included, and a Japan with superior defence capabilities will play a larger role in the Indo-Pacific.
2023 brings responsibility and opportunity for India. As the host of the G20 and the Shanghai Cooperation Organization, the world will be watching closely. With this authority, comes challenges encapsulated by five C’s: Covid, Contraction, Climate crisis, Conflict and China. If India is able to use its opportunity, the year could end with India viewed as a near-great power, an international bridge-builder, and a successful democracy.
Gateway House is the only institution in India that has hosted official and independent meetings under the annual G20 process since 2015. In October 2022, Gateway House initiated an independent G20 Task Force on Energy Transitions and Climate Finance, the first task force of India's G20 Presidency of 2023. In this compendium of reports, Gateway House assesses and includes its engagement with this influential multilateral through task forces, research and meetings of the last nine G20 Presidencies.