British economist Jim O’Neill said the joint declaration emerging from last week’s summit in New Delhi further confirmed that the G20 is the only one with the scope and legitimacy to offer real global solutions to global problems. Is a body. Alternative groupings like the G7 and the newly expanded BRICS look like window dressing in comparison. He said that PM Narendra Modi now looks like a ‘visionary politician’ compared to Chinese President Xi Jinping.
Jim O’Neill said that the lack of India-China unity will be a major obstacle for the new BRICS. It was O’Neill who named the group of Brazil, Russia, India and China as ‘BRIC’, which included South Africa. After this its name became ‘BRICS’.
He said that now Xi’s absence from the G20 summit has deepened the division between the two countries. If Xi wants to convince us otherwise, he will have to reach out to Modi. As per the current situation, the success of the G20 meeting makes Modi the clear winner in this session of the summit. Perceptions matter, and at the moment he looks like a more visionary politician than Xi.
Jim O’Neill has said that the G20 declaration can be the first step towards concrete efforts to address global issues.
Jim O’Neill, in an article on ‘Project Syndicate’, says that neither BRICS nor the G7 have the authenticity or capacity to deal with challenges ranging from climate change to the Ukraine war and economic stability.
He said the lack of India-China cohesion would be a major hurdle for the new BRICS, which recently included six new members. He said that many people feel that Xi did not participate in the summit to insult India and Prime Minister Modi.
The British economist said that whatever the motive, his decision had the effect of undermining the importance of the recent BRICS meeting, which many saw as a victory for China.