Diverse world was ‘distorted’ by West: Jaishankar on ‘weaponised’ globalisation | World News - Hindustan Times
close_game
close_game

Diverse world was ‘distorted’ by West: Jaishankar on ‘weaponised’ globalisation

Jan 23, 2024 10:32 AM IST

EAM pointed out the drawback of globalisation and said it has concentrated the economic power in a few regions, making much of the world dependent on them.

Union external affairs minister S Jaishankar on Monday highlighted the negative side of globalisation while acknowledging its benefits. He said globalisation has designated currency, trade and tourism as “weapons” and stressed that those in control of the world order established in 1945 are reluctant to create more opportunities.

External Affairs Minister S Jaishankar speaks at the interaction session on India and the Global South at the Nigerian Institute Of International Affairs (NIIA), in Lagos on Monday(DrSJaishankar-X)
External Affairs Minister S Jaishankar speaks at the interaction session on India and the Global South at the Nigerian Institute Of International Affairs (NIIA), in Lagos on Monday(DrSJaishankar-X)

He pointed out the drawback of globalisation when he emphasised that it has concentrated the economic power in a few regions, making much of the world dependent on them.

Unlock exclusive access to the story of India's general elections, only on the HT App. Download Now!

Also read: Amid row, Jaishankar meets Maldives foreign minister: ‘Frank conversation’

"Today, the currency is a weapon, trade is a weapon, tourism is a weapon. They may be dominant as producers, they may be dominant as consumers and often, with very little hesitation, leverage their market shares on the global system for their particular national purpose. We know very well this is a world order that was devised in 1945 when the members of the United Nations were roughly 25% of what they are today This world order continues obstinately because those who are in the driving seat don't want to create more seats for other people to be at that engine," EAM Jaishankar said addressing the Nigerian Institute of International Affairs in Lagos.

The Union minister observed that the world order, which was at its natural diversity, was distorted by Western domination.

"The world was diverse and it was distorted by the period of Western domination and in a post-Colonial world today, restoring that natural diversity is actually a collective objective. Now what are the challenges to that process one, of course, is while many of us attained independence, we have all built our Nations and societies," he added.

Jaishankar further highlighted the challenges to bring the world to its natural diversity and said those who dominated the world for the last 200 to 300 years continue their dominance with new instruments and techniques using new regimes.

“While globalization has had many positive results. It has also undeniably led to such deep economic concentrations that much of the world today depends on the production of a few geographies,” he said.

The EAM is in Nigeria where he will co-chair the 6th India-Nigeria Joint Commission Meeting (JCM) with his counterpart. He will also inaugurate the 3rd edition of the Nigeria-India Business Council meeting.

Discover the complete story of India's general elections on our exclusive Elections Product! Access all the content absolutely free on the HT App. Download now!

Get Latest World News, Israel Iran conflict LIVE along with Latest News from India at Hindustan Times.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Monday, April 15, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On