Archives Economic cooperation - Page 25 of 53 - New Eastern Outlook

Despite Washington’s concerns – and even warnings of consequences – it has not been able to wean New Delhi away from Russia. Instead, India has decided to deepen its ties with Russia. On the one hand, India’s alliance with Russia not only allows the former to maintain a balance between Russia and the US, but an alliance with Russia also comes with another critical benefit. With Russia being a vocal supporter of multipolarity and India being an ambitious global player itself, a multipolar world is a system that can meaningfully accommodate India, the world’s most populous state now. This was most clearly evident during the recent visit of India’s Prime Minister Modi to Russia.

While international relations were organized around two poles of power (East and West) after the fall of the Berlin Wall in 1989 and the illusion of the end of the Cold War in 1991, the emergence of new centers of power in the Global South changes the situation. It is in this spirit that the prestigious think tank that we agree to call in other words “the Valdaï discussion club ”, based in Moscow, is organizing its second Russian-African conference (July 24, 2024 in Dar es Salaam in Tanzania), one year after the second Russia-Africa summit in Saint Petersburg (here).

The transition to the use of national currencies in trade and economic cooperation and the rejection of the dollar’s dominance in international trade are becoming more common in the vast expanses of modern Asia. What contributed to this process, and…