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Why US-China Power Is Challenging the Multipolar World

Why US-China Power Is Challenging the Multipolar World
C Raja Mohan: We might be moving away from a multipolar world · indianexpress.com

The article says the world may be becoming less multipolar, meaning less evenly shared among many powerful countries.

The United States and China are becoming the two strongest economic powers.

China has a very large share of the BRICS economy, while the United States dominates the G7 economy.

The two countries disagree about trade, technology, and Taiwan.

However, they still need each other’s markets, technology, money, and factories.

Russia is weaker economically but still has enough military and diplomatic power to affect the balance.

This could lead to a world shaped by two major powers, or perhaps three if Russia joins them in important diplomacy.

India prefers a world with many powerful countries, but the article says it must now focus on the growing rivalry among Washington, Beijing, and Moscow.

Key facts

BRICS economic concentration
China accounts for roughly three-fifths of the enlarged BRICS group’s combined GDP.
G7 economic concentration
The United States accounts for close to three-fifths of the G7’s nominal output.
US-China relationship
The two countries are economically interdependent while seeking to reduce their vulnerabilities to each other.
Main disputes
Trade, technology, and Taiwan remain major sources of disagreement between Washington and Beijing.
Russia’s role
Russia retains military power, geographical reach, and diplomatic weight despite being economically diminished.
G20 disagreement
The United States and China prevented a G20 finance ministers’ meeting from issuing a joint statement over language on trade surpluses and export-led growth.
India’s position
India prefers a multipolar world but must address intensifying rivalry among the United States, China, and Russia.

Sources

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