The Balance of Power in the Global Trade System Has Shifted from Western Powers to Rising Developing Countries
Raagini Sharma
(RIEAS Senior Analyst)
Copyright: @ 2021 Research Institute for European and American Studies (www.rieas.gr) Publication date: 29 August 2021
Note: The article reflects the opinion of the author and not necessarily the views of the Research Institute for European and American Studies (RIEAS)
1. Abstract
The world is confronting a risk of the power vacuum that may loom large on its canvas for a long time. The Vacuum is created in light of the fact that Europe and the USA are in a mode of gradual relative decay vis-a-vis the accelerated growth of the rising powers. The Rising powers are effectively testing western powers. Particularly China as an independent entity and BRICS (Brazil, Russia, India, China and South Africa) as an international group are presenting tough challenges to the Western powers. .. Read more
Alyona Pavlenko
Asia Watch – A bimonthly column by Professor Swaran Singh in which he analyses major developments across Asia