The global economic landscape is shifting from the West to Asia, particularly highlighting the roles of India and China. What implications does this shift hold for the existing world order, and how might it influence global governance and economic policies?

Category: International Relations (GS -II),

Test Date: 26 Sep 2024

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Introduction: Briefly outline the shift in the global economic landscape from Western dominance to Asian influence, particularly focusing on India and China.
Implications for the Existing World Order:
- Rise of India and China alters power dynamics, challenging Western hegemony.
- Emergence of a multipolar world, with multiple centers of power influencing global decisions.
Influence on Global Governance:
- Institutional Reforms: Need for reforming international institutions (e.g., UN, IMF, World Bank) to better reflect the interests of rising Asian powers.
- Regional Organizations: Role of regional organizations (e.g., ASEAN, SCO) in promoting Asian interests on the global stage.
Impact on Economic Policies:
- Trade Policies: Shifts in global trade agreements and focus on regional trade partnerships (RCEP)
- Development Models: Economic successes might influence development models in other emerging economies.
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