Multilateral economic cooperation is dominated by geopolitics today. The G20, which described itself as the “premier forum for global economic cooperation” at the time of the global financial crisis that it tackled head-on with unprecedented coordination of macroeconomic policies, is similarly affected. Reckoned as a positive success and a singular achievement for India, there’s little doubt that the major outcomes are driven by geopolitical motivations. The BRI has been around for a decade but in recent years it has become a grave concern for both economic and geopolitical reasons. The World Trade Organization estimates that the splitting of the world trade system into separate blocs could be very costly and destabilising.

Source: The Telegraph September 19, 2023 13:13 UTC