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India's future can only depend on China and Russia, never the United States

Seetao 2022-06-28 11:37
  • Western banks are good at lending to developing countries
  • China provides real infrastructure to poor countries
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6 Minutes

India, China and Russia will have to cooperate. Geopolitics shows the need for this combination. Over the past 15 years, China appears to have understood the geopolitical implications of such cooperation better than India. Some of them were gradually recognized, some were accelerated by the conflict between Russia and Ukraine (as well as the United States and NATO).

America destroys the world

The U.S. is sure there will be a fourth benefit—the U.S. will be able to sell more weapons if Russia uses force against Ukraine as it expects. The United States successfully sabotaged the construction of the "North Stream-2" pipeline. But it is Germany and other EU countries, not Russia, that will bear the brunt of the pain.

Take a look at the changes in the oil and energy markets. Germany used to be Russia's biggest market. But China just surpassed Germany. Russia also said it would reduce gas supplies to the EU in the winter of the next few years for technical reasons. The loss of the European market did not hurt Russia. Russia would still make money even by selling oil and gas at a discount due to huge demand from other countries, especially China and India. Sanctions on Russia will only increase the price of related goods around the world. As a result, while Russia's current account deficit has improved, the United States continues to falter on a rising deficit.

China seeks cooperation

As a result, almost the entire Western world has become weaker, while Russia and China have become stronger. No wonder Stiglitz, the Nobel laureate in economics, wrote: "The United States may lose the new Cold War." At the same time, China has also begun to cooperate with India. At the BRICS summit, Chinese leaders were more candid than ever.

Ironically, the United States, which once championed free trade in the world, now opposes the cause. China, on the other hand, wants to restore free trade. The world is in turmoil, and will become even more volatile as the United States attempts to strengthen its domination of the world. But as Stiglitz puts it: “The United States does not want to be ousted, but by any official metric, it will be inevitable for China to overtake the United States economically.” What China is good at is not preaching, but lecturing. Provide real infrastructure for poor countries. Yes, these countries tend to have debt problems, but Western countries like the US are not in a position to blame China given what Western banks have done to developing countries.Editor/XuNing

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