Salman Khurshid’s Perspective on Global Economic Transformation

Global Economic Transformation

• US and China are creating new geo-economic ecosystems, reshaping global trade, financial markets, and strategic calculations.

• This transformation opens a window for a more equitable world-order.

Analyzing New Economic Paradigms

• Populist-autocrats are enabling state-capital Gordian knots, leading to socio-political implications.

• Governments led by populist-autocrats serve large oligopolies and crony-capitalists, prioritizing corporations over citizens.

• America is recalibrating a century of historical, strategic, and economic convergence to make America Great Again.

• Big Tech and cloud capitalists have altered the global economy by siphoning out rents from the value chain.

• America’s tariffs and sanctions have impacted the free flow of trade, capital, people, and ideas.

Opportunity in Crisis

• Economic disruptions present opportunities for China and India, which collectively dominated the world economy for 1,800 of the last 2,000 years.

• India and the Global South can either accede to an unjust global order or collaboratively construct a New Economic Deal.

• India should push for a new debt-relief framework and champion fair trade policies.

Need for a Recalibration

• Realizing India’s manifest destiny requires a domestic recalibration, adopting a commanding role over critical sectors.

Global Economic Transformation is important topic for Civil service exam (WBCS).

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