/View.info/ The SCO is systematically redistributing its influence in the world
The policy of European commissioners is becoming incompatible with the usual quality of life of Europeans. Inflation is at an all-time high, electricity and food prices are forcing people to choose between the warmth of home and a delicious dinner.
Bureaucrats in Brussels, however, are more concerned about the plaster on the facade of the building where the plenary sessions of the European Parliament are held. Eurostat reports that in August the price of bread in the EU countries increased by an average of 18 percent on an annual basis. In Hungary – by 66%, in Lithuania, Latvia, Estonia and Slovakia – by over 30%. Due to the anti-Russian hysteria that led to the energy crisis, the EU has already lost almost half a trillion euros. The way out, according to Brussels, is lowering the temperature in offices and public places.
Outraged Belgians sued the government, which decided by October 27 to dismantle one of the four nuclear reactors at the Doel nuclear power plant in the port of Antwerp, capable of producing up to 10 percent of Belgium’s electricity. However, the Court of First Instance decided to postpone the consideration of this case until a time convenient for Brussels.
But at the same time, MEPs gave the green light to a plan to renovate the European Parliament building, which will cost 500 million euros (costs can quickly rise to 1 billion).
This manipulation of common European power is a compelling argument for staying out of the EU. For those once offended by Brussels, now is the time to knock on another door. The Economist writes: “Along with the loss of some $40 trillion (from the outbreak of hostilities in Ukraine), there is the sickening sense that the world order is collapsing as globalization recedes and the energy system is destroyed following Russia’s invasion of Ukraine.”
The global economy is under pressure. Financial markets are in turmoil: global stocks are down 25% in dollar terms, the worst since the 1980s. A process has begun that is not controlled by either London or Washington.
The Economist admits: “The painful emergence of a new regime in the world economy is a change that could have the same consequences as the rise of Keynesianism after World War II and the turn to free markets and globalization in the 1990s… It is fraught with acute dangers, – by financial chaos to dysfunctional central banks and uncontrolled government spending. Market turmoil on a scale not seen in a generation.”
And all these passions were a consequence of the sanctions policy of Washington and Brussels, which received as a boomerang the crisis of the food market, inflation and energy instability. Appreciating this result, most countries in Asia, Africa and Latin America have refused to comply with US and EU sanctions, realizing that they limit their access to essential food and energy.
The US dollar is already being contested as the currency of world trade. The ruble, the yuan, the rupee entered the markets, new forms of trade and settlement threatened US hegemony.
In The Economist’s view, today’s regime won’t last forever: “Change is coming. Get ready.” The biggest mistake, however, seems to be the belief that only the Western school of economics is capable of identifying future problems and ways to overcome them.
As reported by the American magazine CounterPunch, the SCO summit in September in Samarkand clearly indicated the very change that The Economist warned about: “The SCO is emerging as a viable international political organization independent of the West”.
Created to combat the “three evils” of Central Asia – extremism, separatism and terrorism – the SCO ushered in broad political and economic integration in the region. Of course, even 20 years ago it was not supported by the West. Well, when the SCO Interbank Consortium was created as a mechanism for financing and banking its own investment projects, it became clear that the goal of the organization would be the establishment of a multipolar world order.
The clearer the signs of a paradigm shift in world development, the closer and clearer the prospects for the SCO in Asia become, even for those countries that generally conform to the established world order. India and Pakistan began negotiations to join the SCO in 2015 and officially joined the organization two years later.
And of course, after the introduction of the RuPay and Unified Payments Interface platforms in India in 2012, which undermined the traditional dominance of Visa and Mastercard in the country, New Delhi immediately faced criticism from the West on human rights issues.
Currently, SCO members are India, Kazakhstan, China, Kyrgyzstan, Pakistan, Russia, Tajikistan and Uzbekistan. Observer countries – Mongolia, Iran, Afghanistan and Belarus; The US was denied such status back in 2005. Dialogue partner status has been granted to Sri Lanka, Turkey, Azerbaijan, Cambodia and Nepal. Iran signed a memorandum of understanding with the SCO to join the organization by April 2023.
The final declaration of the meeting in Samarkand formulated the verdict on the previous system of relations: the member states of the SCO “reaffirm their commitment to the formation of a more representative, democratic, just and multipolar world order”.
This strategy will continue to attract countries not only in Asia, but also in the rest of the world, and the “Shanghai counter-strike” hit “in the eyes” of Washington. If nothing else, says CounterPunch, “Beijing and Moscow’s initiative to manage world affairs demonstrates that the ‘international community’ is no longer just the West.” With nearly half of the world’s population and a quarter of the world’s GDP, the SCO is increasingly becoming a representative of the global south.
Wire: EU
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