Latest news with #JimO'Neill
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First Post
4 days ago
- Business
- First Post
Not against America: India at BRICS is a balancing force and a bridge builder
BRICS plus is a reality that is growing stronger by the month. From originally being conceived as BRIC by Jim O'Neill of Goldman Sachs in the 1990s, as the grouping of emerging economies that was deemed to acquire much greater heft in the global scheme of things, it has acquired a much greater traction and attraction on the geo-economic matrix. While representing the cross-continental mix, it has expanded to more than double its original membership from across the geo-political divide in a comparatively short span as over two dozen aspirants for partnership and inclusion are in the pipeline. STORY CONTINUES BELOW THIS AD The combined GDP of BRICS countries already exceeds that of G7 economies. However, given the current global churn and geo-political competition, the group has China and Russia as its important pivots that are challenging the unilateralism and hegemony of the United States. Several of these countries, including India, are rightful claimants for a seat on the horseshoe table of the UNSC that refuses to be reformed while it has two of the BRICS constituents (China and Russia) as its permanent members. Currently, Brazil is the BRICS chair and the next Summit will be held in the first week of July. Prime Minister Narendra Modi is expected to attend the Summit. India follows a policy of strategic autonomy, multi-alignment and ambidexterity. Following a sane foreign policy with 'Vasudhaiv Kutumbakam' as its core value and concern, New Delhi is able to navigate its close and intrinsic partnership with all the major powers and groupings. It is an integral part of the Quad in the Indo-Pacific where it seeks to enhance the critical economic heft and leverage in key areas, avoiding the pitfalls of the alliance architecture to create and sustain alternate value and supply chains while underscoring the need of freedom of navigation in accordance with the UNCLOS and other international rules and conventions. It considers and propagates global commons and global goods for the global welfare. Likewise, New Delhi has been a founding member of the BRICS and is an important pivot in this and other mechanisms like RIC (Russia, India and China) and IBSA (India, Brazil and South Africa). BRICS now represents 60 per cent of the global population and 30 per cent of the world's economy. India, itself, is the fourth largest fast-growing major economy in the world. In addition, while India is a comprehensive strategic partner in the ever expanding and deepening ties with the US, irrespective of the political dispensation there, it has time tested, trusted and strategic partnership with Russia. These are not seen by India as a zero-sum game but by its capacity to strike friendships across the geo-political spectrum on its own strength and strategic heft. It is in a geo-political sweet spot as the geo-economic lever hinges more to the South. It also has more than thirty strategic partnerships with countries from Global North to South. STORY CONTINUES BELOW THIS AD President Donald Trump, who wants to develop closer partnerships with Russia and China despite strategic rivalry but on his own terms and in his own unpredictable and unique style, considers BRICS plus as a threat, especially in the context of de-dollarisation. The US fails to appreciate that it was its own confrontational policy, especially under the Biden era, leading to the weaponisation of financial instruments and unilateral sanctions on Russia and others in an unprecedented manner, which have been solely responsible for that shift and search for alternatives by other countries through alternate currencies and bilateral and plurilateral transactional mechanisms. Self-introspection and course correction might help restore some faith in reasonable outcomes and the already stressed financial architecture led by Bretton woods Institutions. BRICS has its own New Development Bank. There have been proposals for some sort of a BRICS currency which New Delhi has not yet subscribed to. President Trump warned BRICs member nations that he would impose 100 per cent penal tariffs if the latter went ahead against the hegemony of the US dollar. Ironically such steps might only lead to hardening of resolve. Minilaterals and plurilateral groupings are natural to subserve certain national interests of the members but pitching them as rivals and enemies may lead to wrong policy choices. BRICS is neither uni-focal nor uniform in its objectives and approaches. It has its own challenges and dynamic as is clearly evident in the non-issuance of the joint statement of the recent BRICS plus foreign ministers meeting. STORY CONTINUES BELOW THIS AD Recently, US Commerce Secretary Howard Lutnick said, 'The Indian economy is extraordinary, your human capital capacity is amazing, your growth rate is amazing. But, you know, there were certain things that the Indian government did that generally rubbed the United States the wrong way.' Speaking of de-dollarisation by BRICS he stretched, 'The group's stance to move away from supporting the US dollar is not really the way to make friends and influence people in America. For instance, you generally buy your military gear from Russia. That's a way to kind of get under the skin of America, if you go to buy your armaments from Russia. So, I think India is starting to move towards buying military equipment from the United States, which then goes a long way.' They do, however, appear to appreciate India's logical approach in this regard. But threatening tones in diplomacy, when going is good, might be counter-productive. India will follow what is in its best national interest, while valuing its relationship with the US. STORY CONTINUES BELOW THIS AD India does not consider BRICS being pitched against the West. New Delhi, along with others, including Russia, considers it to be non-Western, and not anti-West. Although President Trump and his administration admit that there are many powers and economic players and multi-polarity is the norm, their reaction and behaviour often resort to unilateral decisions and commentary which further undermines whatever trust is left in the existing global systemic architecture. India is in a position to be a bridge as it assiduously and consciously wants to be the 'Voice of the Global South'. It has the capacity and intent and levers and also trust to play that role as the world grapples with stasis in institutions of governance and challenges posed by terrorism and non-state actors as well as non-traditional threats engineered by technology and climate change among others which are existential in nature. India seeks and supports an inclusive, sustainable and multipolar world, with effective, efficient and reformed multilateral institutions. STORY CONTINUES BELOW THIS AD The author is the former Indian Ambassador to Jordan, Libya and Malta and is currently a Distinguished Fellow with Vivekananda International Foundation. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost's views.
Irish Independent
5 days ago
- Entertainment
- Irish Independent
Wicklow abuse survivor gets closure after clerics acknowledge what happened to him
Jim O'Neill invited members of the Jesuit order to attend his art exhibition A man from Greystones, who was a victim of abuse as a child, has finally been able to feel some sense of closure having completed his Higher National Diploma in Art & Design, at Bray's Institute of Further Education (BIFE). While his abuser is no longer alive, the bold step was taken to invite representatives from the order to the exhibition, where his major piece, 'We Are Forced to Bear Witness', was on display for them to see. The title is taken from a line in TS Eliot's 'Murder in the Cathedral', with its themes of faith, power and sacrifice, which his abuser guided him through for his Leaving Cert.
