SCO Summit Signals aโฃ Shift Towards a Multipolar World, Expert Says
KARACHI: The recent 25th Shanghai โCooperation Organisation (SCO) Summit in Tianjin, China, represents a critically importantโข turning point in global andโข regional dynamics, accelerating the move towards a multipolar world order,โ according to Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum (PBIF),โ All Karachi Industrial Alliance (AKIA), โand 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 increasedโค focus on trade settlementsโข using currenciesโ other than the US dollar. Theโ Tianjin Declaration further emphasized a commitment to national sovereignty and non-interference, presenting a new framework for international relations.
Forโ Pakistan, โthe summit reinforced its strong, long-standing strategic partnership with China. Discussionsโข centered on deepening trade and industrial ties, especially advancing the next โphase of the China-Pakistan Economic Corridor (CPEC).โฃ Crucially, the summit also facilitated vital defense and โคcounter-terrorism cooperation through โthe establishment of new security centers, bolstering Pakistan’s national security andโ regional stability.
A potential thaw in India-China relations emerged as a key outcome, with primeโ Minister Modi’s attendance and renewed dialog on border disputes suggesting a shift towards cooperation. This development promises positive implications for โคthe economic and political โขstability of the entire region.
Looking ahead, Pakistan must adopt a balanced and adaptable diplomatic strategy to effectively manage its relationships with โขboth China and the United states. Leveraging its strategic geographic position for regional connectivity is paramount, while simultaneouslyโ maintaining a strong andโ diverse โขrelationship โwith the US.
Hussain stressed that this is not โa competitive situation, stating, “Our national interests areโ best served by engaging with all major โฃpowers based on mutual respect and shared objectives.”
Ultimately, the SCO Summit demonstrates the organization’s evolution beyond aโ purely security-focused bloc, transforming into a comprehensive platform for economic integration and the โcreation of a more stable, โขmultipolar world.
