SCO Summit Signals a Shift Towards a Multipolar World, Expert Says
KARACHI: The recent 25th Shanghai Cooperation Organisation (SCO) Summit in Tianjin, China, represents a critically important turning point in global and regional dynamics, accelerating the move towards a multipolar world order, according to Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum (PBIF), All Karachi Industrial Alliance (AKIA), and Chairman of the National Business Group Pakistan (NBG).
The summit highlighted a growing desire for financial independence from western influence, evidenced by the establishment of the SCO Growth bank and increased focus on trade settlements using currencies other than the US dollar. The Tianjin Declaration further emphasized a commitment to national sovereignty and non-interference, presenting a new framework for international relations.
For Pakistan, the summit reinforced its strong, long-standing strategic partnership with China. Discussions centered on deepening trade and industrial ties, especially advancing the next phase of the China-Pakistan Economic Corridor (CPEC). Crucially, the summit also facilitated vital defense and counter-terrorism cooperation through the establishment of new security centers, bolstering Pakistan’s national security and regional stability.
A potential thaw in India-China relations emerged as a key outcome, with prime Minister Modi’s attendance and renewed dialog on border disputes suggesting a shift towards cooperation. This development promises positive implications for the economic and political stability of the entire region.
Looking ahead, Pakistan must adopt a balanced and adaptable diplomatic strategy to effectively manage its relationships with both China and the United states. Leveraging its strategic geographic position for regional connectivity is paramount, while simultaneously maintaining a strong and diverse relationship with the US.
Hussain stressed that this is not a competitive situation, stating, “Our national interests are best served by engaging with all major powers based on mutual respect and shared objectives.”
Ultimately, the SCO Summit demonstrates the organization’s evolution beyond a purely security-focused bloc, transforming into a comprehensive platform for economic integration and the creation of a more stable, multipolar world.