Chinese President Xi Jinping and PM Narendra Modi (file photo).
New Delhi:
British economist Jim O’Neill said the joint declaration that emerged from last week’s summit in New Delhi further confirmed that the G20 is the only organization with the scope and legitimacy to offer real global solutions to global problems. Alternative groupings like the G7 and the newly enlarged BRICS look like window dressing in comparison. He said that PM Narendra Modi now looks like a ‘visionary politician’ compared to Chinese President Xi Jinping.
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Jim O’Neill said that the lack of India-China unity would be a major obstacle for the new BRICS. It was O’Neill who named the grouping of Brazil, Russia, India and China ‘BRICS’, which included South Africa. After this it was named ‘BRICS’.
He said now Xi’s absence from the G20 summit has deepened the divide between the two countries. If Xi wants to convince us otherwise, he will have to reach out to Modi. As per the current scenario, the success of the G20 meeting makes Modi the clear winner in this session of the summit. Perceptions matter, and at the moment he looks like a more visionary politician than Xi.
Jim O’Neill has said that the G20 declaration could be the first step towards a concerted effort to address global issues.
Jim O’Neill, in an article on ‘Project Syndicate’, says that neither the BRICS nor the G7 have the authority or capacity to tackle challenges ranging from climate change to the Ukraine war and economic stability.
He said the lack of India-China convergence would be a major hurdle for the new BRICS, which recently added six new members. He said that many people feel that Xi did not attend the summit to insult India and Prime Minister Modi.
The British economist said that whatever the motive, his decision had the effect of downplaying the importance of the recent BRICS meeting, which many saw as a victory for China.