New York, September 29 (Daily Kiran) : India’s Foreign Minister S. Jaishankar emphasized that the world is moving towards a multipolar system. Speaking at an event in New York, he attributed this shift to changing U.S. policies, evolving relations with China, and the weakening of traditional trade beliefs.
Jaishankar noted that countries are now reassessing their strategies to reduce risks, diversify partnerships, and maximize benefits from existing relationships. He described this process as an adaptation to a more competitive international environment.
Discussing U.S.-China relations, he remarked, “The rest of the world is busy organizing itself.” He pointed out that old alliances are weakening, and the most powerful nations are increasingly making unilateral decisions. While there may be growing proximity between the two superpowers, their competition could hinder their ability to set the agenda for the rest of the world.
Countries outside this rivalry are seeking their own solutions. They are exploring new partnerships, reassessing old ties, and attempting to shield themselves from potential disruptions.
Jaishankar highlighted a paradox at the heart of modern diplomacy. On one hand, there is fierce competition among nations, while on the other, there exists deep economic interdependence. When one nation gains an advantage through this dependence, the temptation to exploit it against others increases.
He stated, “Diplomacy has now become a high-risk game.” Governments must respond quickly to high-stakes decisions while also exercising patience for prolonged negotiations.
The Foreign Minister cited geographical, financial, travel, and market access choke points as examples of how countries can exert pressure on one another. He noted that foundational beliefs underpinning trade agreements have weakened over time, as various practices have diverged from market principles.
Jaishankar remarked that the U.S. is now adopting a different approach to trade, focusing on individual deals with various partners. He suggested that this shift could lead to new agreements and relationships, although establishing a new pattern will take time.
Regarding India, he stated that the country aims to maintain a balanced relationship with the U.S., Europe, Japan, China, Russia, Gulf nations, ASEAN, and the Global South. He likened this strategy to “portfolio management.”
He expressed that major trading nations have strong reasons to seek reliable partners and a stable environment, even if immediate benefits from specific agreements may be limited.
Jaishankar concluded, “I am not pessimistic about the world.” He remains hopeful that countries will forge new agreements amid this era of competition and uncertainty.
He also dismissed the notion that the weakening of international economic rules is solely due to the United States, asserting that market-related beliefs had already eroded, while current U.S. policies are reshaping how countries engage with one another.
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