The US is standing in the way of the progress of the world economy. The ROW is becoming impatient with the the US and vassals creating obstacles. But even the vassals are under pressure resulting from US hubris and its consequences for the world system. Now the US is running into opposition, some vocal—President Xi in particular. Nothing mentioned of BRICS and its expansion though. It was apparently the elephant in the room at the Bali meeting, everyone being well aware of it, not to mention BRI, which Bhadrakumar observes, has as yet no Western counterpart. The US-led West is simply trying to act as spoiler in this regard (rather than pony up).
India Punchline
The G20 is dead. Long live the G20
MK. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassador.
not to mention BRI, which Bhadrakumar observes, has as yet no Western counterpart.
ReplyDeleteThere was a big announcement about Global Gateway as an answer to BRI, but it's starting to look like vaporware. This article is from March of last year:
With its ‘Global Gateway’, EU tries to compete with China’s Belt and Road Initiative
This from Wikipedia:
The Global Gateway is a European project created by the European Union presented by Ursula von der Leyen in Brussels to develop new infrastructures in developing countries.
Global Gateway aims to mobilize up to €300 billion in investments between 2021 and 2027 to support a sustainable global recovery, taking into account the needs of partners and the EU's own interests.
correction: the article linked above is from December of 2021... European dating system. Here's an actual link from the EU:
ReplyDeletePress release 1 December 2021 Brussels
Global Gateway: up to €300 billion for the European Union's strategy to boost sustainable links around the world
Europe appears determined to revert to an agrarian economy, so they won't be the ones making plans...
ReplyDeleteGlobalism is doomed.