China’s Xi snubbing G20 Summit a costly mistake, makes India the clear winner: Economist who coined BRIC
Modi and Xi
Xi Jinping’s decision to skip the G20 Summit in India has sort of created a negative perception of the Chinese leader and the success of the meet has made Indian Prime Minister Narendra Modi the clear winner, British economist Jim O'Neill, who coined the acronym BRIC (now BRICS), said.
He said that the successful completion of the summit, which culminated in the joint New Delhi declaration, has overshadowed G7 and the BRICS.
The economist further said that G20 declaration could be the first step in a stronger concerted effort to address global issues, asserting that Modi now looks more like a ''visionary statesman'' than Xi.
“The New Delhi Leaders' Declaration has offered further confirmation that the G20 is the only body with the scope and legitimacy to offer truly global solutions to global problems, and neither the BRICS nor the G7 has the credibility or the capacity to tackle these challenges ranging from climate change to the war in Ukraine and economic stability among other matters,” he said in a write-up on the 'Project Syndicate'.
China-India rift further deepened
Jim O'Neill noted that Xi’s absence at the New Delhi summit has further deepened the rift between China and India, and could possibly undermine the BRICS, which recently admitted new members.
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“Many speculate that Xi skipped the summit in order to snub India – one of China’s longstanding rivals – and Indian Prime Minister Narendra Modi. Whatever the motive, his decision had the effect of undermining the significance of the recent BRICS meeting, which many saw as a victory for China,” he said.
He also noted that the lack of Indo-Chinese solidarity will be a major stumbling block for the new BRICS.
Also read |The Geopolitics of G20 Summit
Xi has to reach out to Modi
“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 need to reach out to Modi. As matters stand, the success of the G20 meeting makes Modi the clear winner in this season of summitry. Perceptions matter, and right now he looks more like a visionary statesman than Xi does,” he added.
The G20 Summit under India’s presidency was historic considering the fact that the African Union was included in the G20 fold, a move initiated by India, and the declaration of the ambitious India-Middle East-EU trade corridor which is being pegged as a countermeasure to China’s Belt and Road Initiative.
(With inputs from agencies)
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