Is it Time to Change Course for Super Power – Realities & Rectification

The geopolitical landscape is complex and multifaceted, with various alliances and partnerships forming in response to global challenges and strategic interests. The United States has expressed concerns regarding the growing alignment between China and Russia, particularly in light of recent events and long-term strategic competitions. Reports indicate that high-level officials have acknowledged the intensity of engagement between China and Russia, with implications for international diplomacy and security. Additionally, there is a recognition of the multifaceted challenges posed by China, which are considered to surpass those of the Cold War era. The dynamics of international relations are continually evolving, and the United States, along with its allies, remains vigilant in monitoring these developments to maintain a balance of power and protect its interests. The situation underscores the importance of diplomacy, strategic foresight, and the ability to adapt to an ever-changing global environment.

The geopolitical landscape is witnessing significant shifts with the ongoing conflict in Ukraine and serious rising tensions in the Middle East. Amidst these developments, China and Russia have been strengthening their cooperation across various fields, including military, investment, and energy sectors. This article will outline six major ventures that exemplify the growing collaboration between these two nations and their partnerships with other countries.

1. Investment and Energy Cooperation

?? China and Russia have agreed to expand their investment and energy cooperation, as evidenced by the 11th meeting of the China-Russia Investment Cooperation Committee and the 21st meeting of the China-Russia Energy Cooperation Committee. These meetings underscore the commitment to deepen ties in strategic sectors, with a focus on mutual benefit and common development.

2. Technological Partnerships

?? The China-Russia RMB Investment Cooperation Fund, managed by the China Development Bank and the Russian Direct Investment Fund, targets the energy sector and indicates a shared interest in technological advancements. This venture capital fund reflects the strategic collaboration in technology areas crucial for both nations.

3. Economic Cooperation Agreements

?? Recent economic cooperation agreements between China and Russia have emphasized the use of local currencies in trade deals, reducing reliance on the US dollar and strengthening economic ties. This move towards financial integration is a significant step in bolstering the economic resilience of both countries against external pressures.

4. Cross-Border Transportation and Logistics

?? The two countries have been working on enhancing cross-border transportation and logistics infrastructure. This includes developments in rail and other logistics networks, which are essential for facilitating trade and movement between China and Russia and their respective regions.

5. Global Energy Governance

?? China and Russia are actively engaging in strategic coordination on global energy governance. This involves cooperation in energy technology innovation and a joint approach to energy sector challenges, aiming to promote high-quality energy cooperation.

6. BRICS Bridge Launch

The BRICS alliance, representing an emerging economic bloc consisting of Brazil, Russia, India, China, and South Africa, has been gaining momentum with the addition of new member countries. A significant development in this trajectory is the anticipated launch of the BRICS Bridge, a global digital payment system. This initiative is poised to introduce a multilateral digital settlement and payment platform, which could potentially transform the international monetary and financial system.

The BRICS Bridge aims to create a connection between existing central bank digital currency (CBDC) systems that are operational in several countries. The platform is expected to facilitate mutual payments across BRICS nations, offering an alternative to the current global financial networks. The use of block chain technology is a cornerstone of the BRICS Bridge, ensuring transparency, security, and reduced potential for fraud.

The implications of the BRICS Bridge for the USA and EU are multifaceted. The system could challenge the dominance of the US dollar and the Euro in international trade and finance. By providing an alternative payment mechanism, the BRICS Bridge may accelerate the process of de-dollarization, where countries seek to reduce their reliance on the US dollar in settlement. This shift could lead to a reimagining of the US foreign policy and a reassessment of the EU's financial strategies in a multipolar world.

Furthermore, the introduction of the BRICS Bridge could influence merger control policies, as the BRICS countries have been revising their approaches to foster a more conducive environment for growth and competition. The US and EU might need to adapt their regulatory frameworks to remain competitive and attractive for global investments.

In conclusion, the BRICS Bridge represents a significant stride towards financial autonomy and collaboration among emerging economies. Its effects on the USA and EU will likely be profound, prompting strategic economic and political recalibrations. As the global financial landscape evolves, the BRICS Bridge could serve as a catalyst for more balanced international dialogue and cooperation. The world is watching closely as the BRICS nations chart a new course in global finance.

Why USA is on the decline?

The question of credibility in international relations is complex and multifaceted. It involves a country's history, its current actions, as well as perceptions and policies of other nations. The United States has faced challenges to its credibility due to various factors, including foreign policy decisions and military interventions. Historical events such as the wars in Afghanistan and Iraq have had long-lasting impacts on global perceptions of the U.S. Additionally, the role of key allies and their actions, including those of Israel in the Middle East, also contribute to the broader geopolitical dynamics that influence credibility. It's important to note that credibility can fluctuate with changes in leadership and policy, reflecting the evolving nature of international politics. For a comprehensive understanding of these issues, one may refer to scholarly articles and research studies that analyze the shifts in international credibility and the factors influencing it.

The perception of the United States' credibility in the international domain is a complex issue influenced by various factors and events. In the 21st century, shifts in global power dynamics have been observed, with emerging economies and nations gaining influence at a rapid pace. The World Economic Forum suggests that by 2030, there will be no single hegemonic force but a collection of countries with significant global influence, including the U.S., Russia, China, Germany, India, and Japan. Additionally, the Foreign Policy Research Institute points out that credibility in international relations is often linked to a nation's historical consistency in following through on its commitments and threats. In recent times, the U.S. has faced criticism for certain foreign policy decisions, which some analysts believe have affected its global standing. Moreover, the Atlantic Council highlights the importance of effective diplomacy in the digital age and the need for the U.S. to reinforce its values-based leadership to compete with other governance models. These factors, among others, contribute to the evolving narrative of U.S. credibility on the world stage.

Realization & Rectification?

The question of whether the United States needs rectification on policy and strategy fronts is complex and multifaceted. Recent developments indicate a commitment to strategic adjustments and policy reforms. For instance, the Biden-Harris Administration has launched the U.S. Strategy on Global Development, which aims to address global challenges such as climate change, food insecurity, pandemics, and conflict through a whole-of-government approach. This strategy emphasizes partnership, transparency, and sustainable outcomes, reflecting a shift towards more integrated and responsive policy-making. Furthermore, the administration has also been involved in strategic changes in foreign policy, as evidenced by the withdrawal of military forces from Afghanistan, showcasing a willingness to re-evaluate and change course when necessary. These actions suggest a recognition of the need for strategic and policy evolution to meet contemporary global challenges effectively. However, the success of these initiatives often depends on various factors, including domestic support and international cooperation. Domestically US is in turmoil due to political divide and upcoming elections. Internationally US is losing creditability due to illegal support of wars and supplying weapons instead of resolution. World has not forgotten recent episode of disgraceful withdrawal of Afghanistan after 20 years of longest war in US history.

Conclusion

These ventures are part of a broader strategy by China and Russia to fortify their alliance in the face of global challenges and shifting power dynamics. While the collaboration brings numerous opportunities for both nations, it also presents complexities in the international arena, particularly concerning relations with Western countries and the implications for global stability and economic order.

The deepening partnership between China and Russia is a multifaceted development with far-reaching consequences. It is a relationship built on shared strategic interests, economic complementarities, and a common vision for altering the global balance of power. As the world watches these developments unfold, the international community must navigate this new reality with a nuanced understanding of the motivations and implications of such alliances.

Note: Article is for learning and development purpose only. Writer is ex military officer who has keen interest in international politics & world affairs. He writes regularly on current issues related to strategy, technology, security, leadership development and other emerging issues.