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 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.
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
The reference to India by Russian President Vladimir Putin at the Valdai Discussion Club may be interpreted as encouragement to New Delhi to use its good offices to nudge the warring sides to the negotiating table. Mediation is a big power game, and this may be the right time for India, at the cusp of the G20 Presidency, to start with a record of success
Brazil will head to the polls in a runoff this month to choose its next president. Will it be incumbent Jair Bolsonaro, or former president Lula da Silva? Both are popular with their voter bases, but both have hurdles to overcome, most notably the economy, and have differences on their global political alignment – particularly important as Brazil will be the G20 President in 2024.
In his new book, former Foreign Secretary Shyam Saran demystifies China's imagined belief of itself as the Middle Kingdom. Contemporary China's propensity to cut and paste history has resulted in China's resentment of India based on a limited understanding of Indian history and of China's past recognition of India as an advanced civilisation which impacted Chinese culture. Today the West recognises India's potential to match China, with depth and skills, over the long term.
The G7 has reached out to emerging economies which have, of late, been facing challenges on the economic front, brought on by the lingering pandemic and the mismanagement of the Ukraine crisis. They are also seeking, from the global south, a broader acceptance of their world view. Will it be forthcoming?
The shadow of the Ukrainian war was visible at the G7 summit. Anti-Russian formations were expected, but the extensive reference to China drew attention. The leaders did their part by extensively discussing challenges relating to climate, energy, environment, health, and food security. It is now for the G7 governments to deliver, to be taken seriously.
The Galwan crisis, pandemic and the Ukrainian war have weakened the BRICS’ credibility, a forum that has played a pivotal role in articulating the case for reformed multilateralism. Beyond grandiose rhetoric and vested interests, these five nations need to first infuse the grouping with internal solidarity and enhance mutual trust for peace, stability and prosperity in the Global South.