How minilateralism is reshaping global order
Minilateralism is on the rise today for several reasons. The primary reason is the failure of multilateralism and the emergence of global challenges.
The temptation to de-dollarise
For New Delhi, an imperfect global financial system led by the US is perhaps preferable to a “more egalitarian” China-led global financial system.
These BRICS can’t construct a new world order
For India—neither fully status quoist nor revisionist—a middle path is inherently preferable, a stance not shared by its key BRICS partners.