IASbhai Daily Editorial Hunt | 26th Oct 2020
“The best revenge is massive success.” – Frank Sinatra
EDITORIAL HUNT #207 :“Neoliberalism and New India 2020 | UPSC”
Neoliberalism and New India 2020 | UPSC
India can play a constructive role in evolving a multipolar and just world order
India pursuing an independent foreign policy is not only essential for the country or the South Asian region, it can have a bearing on deprived populations of the world.
SYLLABUS COVERED: GS 2 : IR
India should play a constructive role in evolving a more inclusive, multipolar and just world order. Comment -(GS 2)
- Global Power Dynamics
- Regional Powers and Multipolar World
- Way Forward
- GLOBAL POWER DYNAMICS : The face-off between India and China in Ladakh and the plans for annexation of the West Bank by Israel have brought matters of global power dynamics to the fore.
- MARCH OF CAPITALISM : The unipolar world that came into being after the Cold War, with the US acting as the global policeman and leader in all institutions was a race to capitalism.
- NEED FOR REJUVENATION : Non-conventional security threats challenged the established conceptions of security, war and modernity.
- NEO-LIBERALISM : The 2008 global financial meltdown exposed the realities of the neoliberal world order.
NEOLIBERALISM AND REGIONAL POWERS
- CRONY CAPITALISM : Most institutions of lending crumbled before the inevitable logic of capitalism — the cycle of boom and bust.
- INEQUALITY AND INSTABILITY : The crisis rendered thousands unemployed and destitute.
- BAIL OUTS : The state had to bail out some of the largest financial corporations of the world with public funds.
- NEW ECONOMIC ORDER : G-20 nations replaced the elite G-8 of rich countries in deciding the economic course of the world, though within a neoliberal framework.
- DECISION MAKING POWER : This was an arrangement to share power and skip responsibility, as it kept almost all poor countries of the world out of decision-making.
- CRIMINALISING POVERTY : The rich got to decide what is best for everyone. This established mechanism is under threat.
- MANUFACTURING POWER HOUSE : The rise of China as the workshop of the world has turned many western powers insecure.
A BIPOLAR WORLD
- BIPOLAR WORLD : Of particular relevance is the route India will take in the evolving bipolar world with the US and China constituting the two poles.
- REJECTED GROUPS : Then, India refused to join the Cold War camps and opted for a non-aligned foreign policy that championed the cause of the colonised regions.
- A FORWARD TILT : In the recent past, the Indian government’s foreign policy priorities have tilted towards the US and the neoliberal framework.
- MONOPOLIES : Tying Indian interests to the coat-tails of America will be disastrous.
- FREE MARKET APPROACH : The trade deals done to please the US have resulted in the loss of livelihood, agricultural land and hard-won labour rights of Indian working classes.
- RULE BASED ORDER : What the world needs today is an international rule based order on the principles of mutual respect, concern and cooperation and public participation.
- DEMOCRATIC VS SOCIALIST : Privatised healthcare systems imploded under the weight of COVID whereas countries with a socialised or socialist public healthcare system fared better.
TO DO LIST
- NON ALIGNMENT : India must reject both the unipolarity of the 1990s and the bipolarity of the current system dominated by the US and China.
- CONSTRUCTIVE ROLE : India should live up to its independent non-aligned credentials and play a constructive role in evolving a more inclusive, multipolar and just world order.
- THE FOCUS : There should be a shift to the maintenance of the status quo along each other’s perception of the LAC and within the overlapping areas with China.
- STAND WITH VULNERABLE : India should use its UNSC chair to represent nations hitherto unrepresented at the high table and continue the tradition of speaking for the marginalised.
- INCLUSIVE FOREIGN POLICY : Unfortunately, the course of Indian foreign policy in the last few years does not correspond with this broad, inclusive worldview based on solidarity.
- MEANINGFUL DIALOGUE : In this context, India and China, as the world’s mega-economies, should engage in a meaningful dialogue to resolve the border dispute.
India pursuing an independent foreign policy is important for South Asia when it faces wide-spread aggression and “wolf warrior diplomacy” from China.
SOURCES: THE IE | Neoliberalism and New India 2020 | UPSC