A multipolar world order once again

AS US Secretary of State Antony Blinken returned from his recent trip to China, he must have wondered what exactly the trip achieved. The answer: not much. A lack of trust between both countries hinders any meaningful cooperation. But beyond that, Blinken simply doesn’t wield the same level of influence that his predecessors once did.

Since the fall of the Soviet Union in late-1991, the world economy has been dominated by one superpower, but is now gradually moving towards a multipolar system dominated by China, India, and the United States. The peace dividend that once anchored a global economic trajectory over the last 50 years is now being challenged by a new world order.

The greatest strength of both China and India is a very large, hardworking, and thrifty population, enabling a much higher growth potential and ensuring that they do not become stuck as middle-income countries.