Highlights – India now stands at a critical juncture between the policies of the US and China. The world’s two largest powers are setting new conditions for their respective interests, and India has to carefully consider every step.
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World politics and the economy are now at a new turning point. The United States and China, two major superpowers, are now setting the direction and rules of global cooperation. Unlike before, this cooperation is no longer based on equality among all countries, but rather on the terms of these two powers.
During the Trump administration, the United States clearly demonstrated that talk of “free trade” or “global cooperation” is merely a gimmick. They raised tariffs, withheld economic aid from many countries, and distanced themselves from institutions like the United Nations, the WTO, and NATO. This clearly implied that the United States would now interact with the world according to its own will, not by any multilateral rules.
Did the dream of globalization shatter?
After the 1990s, when global trade opened up and the era of “globalization” began, it was believed that it would benefit all countries. But the opposite happened: some wealthy countries and their industrialists became even richer, while workers and ordinary citizens in poorer countries were left behind. Education, health, and employment deteriorated, while the rich continued to amass billions in profits.
A Story of Three Eras
Since the Industrial Revolution, there have been three periods of global cooperation. First, when European empires like Britain extracted raw materials from their colonies and imposed heavy taxes on them in return. Second, during the Cold War, when the United States and the Soviet Union built economic and military networks of their respective allies. And third, after the Cold War, when the United States became the sole global power and promoted free trade. But this third period is gradually coming to an end, and both the United States and China are busy protecting their own interests.
A Difficult Decision for Countries Like India
Now, neither the US nor China is demanding that any country join their bloc, but each has its own set of conditions. The US wants India to refrain from purchasing oil from Russia and remain silent on certain issues, such as Israel or visa policies. China, meanwhile, wants India to refrain from speaking out on border disputes or China’s growing influence in the Indian Ocean. Striking this balance has become extremely difficult for countries like India. It must protect its interests while also avoiding pressure from both superpowers.
What Should India Do?
History teaches us that economic cooperation has always been under the control of one powerful country or another. The same is happening today, only the names and methods have changed. Therefore, India should learn from its past experiences and formulate its own independent policy, rather than being subservient to any single power.
