REGIONAL COOPERATION
THE GEOPOLITICAL REALITIES AND BAY OF BENGAL INITIATIVE FOR MULTI-SECTORAL TECHNICAL AND ECONOMIC CO-OPERATION( BIMSTEC)
BY BINOJ BASNYAT *
Political and economic institutions, intergovernmental bodies, international organisations, geopolitical unions, sub-regional forums, legal agreements, and project based partnerships are set up either in the aftermath of major wars or when nation states feel the need for cumulative efforts to address changing socio-political realities. The League of Nations was formed after the First World War, but the importance of such a supranational organisation was realised more strongly after the Second World War. The United Nations was formed in 1945, and its various organs particularly the International Monetary Fund( IMF), World Bank( WB), and World Trade Organization( WTO) have framed the political and economic order of our times. These alliances and institutions have brought the world together, shaped the global economy and guarded our race against annihilating escalations.
While China and US’ trade war and tariff feud continue, Indo-US security co-operation has moved forward after the 2 + 2 dialogue with the signing of the COMCASA for secure communication. The agreement puts emphasis on necessitating work in extending cooperation with allies and partner countries to encourage transparent, responsible, and sustainable debt financing practices in infrastructure development with respect to China’ s Belt and Road Initiative( BRI).
This year witnessed renewed global interest vis-à-vis great diplomatic and geopolitical maneuverings in the Indo-Pacific region, which could spell either a shift in global geopolitical focus or conflict at reconfiguring international security. The magnitude of the Asian order will occupy a fundamental position in the years ahead. President Trump has stressed from time to time on making America great again, while China is moving forward with economic strides to replace the US’ global footing. Under such circumstances, India’ s course of action will command attention and be vital for both the United States and China.
It is imperative for smaller nations to see the larger geostrategic picture and understand geopolitical trends to foster a strong bond with both India and China as the two complete for Asian Hegemony.
Geo-Strategic Picture
US policies for the Indo-Pacific, Rising China, Resurging Russia, and most importantly Rising India will play an important part in the South Asian growth story.
With the four strategic policy papers, the Indo-Pacific region on Washington’ s radar has three visible feeders: one, strengthening security arrangements through partnership and alliances; two, competitive diplomacy with larger use
U. S. Secretary of State Mike Pompeo, U. S. Secretary of Defence James Mattis, India ' s Foreign Minister Sushma Swaraj and India ' s Defence Minister Nirmala Sitharaman pose after a joint news conference after a meeting in New Delhi
Extraordinary and Plenipotentiary Diplomatist • Vol 6 • Issue 9 • September 2018, Noida • 43