Multi-alignment and hedging are the order of the day as the present era is an era of poly crises and all aspects of globalization are under stress including trade, technology, finance, movement of human resources, energy and food.
Making this point here on Tuesday, chief of the Manohar Parrikar Institute for Defence Studies and Analyses (IDSA) Sujan R. Chinoy also expressed apprehensions that many developed nations might face recession at a time when the impact of Covid 19 and Russia Ukraine war has exacerbated regional economic challenges. In such a context, hedging and multi-alignment are the order of the day.
He expressed his optimism about India becoming a developed country by the centenary year of its independence riding on its resilient economy and fast growth rate. Talking about the Indo Pacific, he said that it was emerging as a more transparent and inclusive construct and India would favour an inclusive and rule-based order in the region.
In his introductory address, Chinoy said in Asia’s multi-polarity lies the hope for multi-polarity at the global level. He said India’s G20 presidency has many firsts. For the first time, it is being taken to the masses and four developing countries are hosting it back to back— last year it was Indonesia and this year it is India. Over the next two years Brazil and South Africa are going to host it.
