World
China, Russia: BRICS, SCO, EAEU Can Define New World Order
Russian President Vladimir Putin, right, and Chinese President Xi Jinping exchange documents at the signing ceremony in the Kremlin in Moscow, Friday, May 8, 2015. Russian and Chinese leaders have signed a plethora of deals in Moscow, giving Russia billions in infrastructure loans. (AP Photo/Alexander Zemlianichenko)
(The Hindu) – China and Russia have described BRICS, the Shanghai Cooperation Organisation (SCO) and the Eurasian Economic Union (EAEU) as the core of a new international order, defined by a multipolar world.
Far from being rival organisations, the three groupings should be looking at their ties from a “strategic and long-term perspective,” Xinhua quoted Chinese President Xi Jinping as saying. Briefing leaders of the three organisations on China’s Belt and Road initiatives, the establishment of the Asian Infrastructure Investment Bank (AIIB) and the $ 40 billion Silk Road Fund, Mr. Xi underscored the convergence in the development strategies of the three groupings.
China’s Belt and Road initiative is meant to integrate the economies of Eurasia through physical and cyber-connectivity, energy pipelines, industrial parks and smart-cities. The EAEU is primarily a Russian initiative, but in May, Beijing and Moscow commenced talks to harmonise the two initiatives. On Wednesday, Mr. Xi also proposed a similar exercise with India that has launched its own “Act East” policy, which includes establishing connectivity with countries belonging to the Association of South East Asian Nations (ASEAN).
