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The Hindu
The Hindu
Comment
T.P. Sreenivasan

A chaotic world, the perils of multilateralism

Today at a Quad summit, tomorrow at a BRICS summit and the day after at a G-7 summit is a statesman’s dream come true. The exchange of ideas with world leaders, seeking common ground on burning issues and recalibrating our policy accordingly are at the heart of diplomacy. But at a time when the world is trying to grapple with the impact of unprecedented problems which arose in the first two decades of the 21st century, the various intergovernmental organisations and groupings, which are undergoing fundamental changes, may not be fertile places for building peace. The time is not opportune for collective bargaining when countries are holding their cards close to their chest and scheming for positions of advantage. The least common denominators are so shallow that joint statements read like a string of diverse statements without any political glue. Bilateral engagements may be much more productive at this point in history.

In-built contradictions

The 14th virtual BRICS summit hosted by China (June 23-24) was a clear attempt by China to hijack the grouping, going by a blueprint it has prepared for the new world order. Curiously, BRICS was not meant to be a political grouping when the acronym, BRIC, was coined by Goldman Sachs economist Jim O'Neill in 2001 to categorise Brazil, Russia, India and China, which were expected to collectively dominate global growth by 2050. Seeing the possibility of developing a non-western global economic system, China welcomed the idea of BRICS as the nucleus of a new economic grouping and invested energy and resources in building it. The others, joined later by South Africa, were also attracted by the idea of creating a catalyst for an alternative to the Bretton Woods Institutions.

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