PM calls for new world order
- November 16, 2022
- Posted by: OptimizeIAS Team
- Category: DPN Topics
PM calls for new world order
- PM Narendra Modi, while addressing the G20 session said that the Covid pandemic, climate change and Ukraine conflict have together caused “havoc in the world”, leaving supply chains “in ruins” and triggering a “crisis of essentials”, adding that the poor face a “more severe” challenge.
- He called for a “new world order for the post-Covid period”
Key highlights of the speech:
On Global supply chains are in ruins
- PM Modi termed the current phase of climate change, the Covid pandemic, the developments in Ukraine, and the global problems associated with it as a “challenging global environment” and all these together have caused havoc in the world and global supply chains are in ruins.
- He called for building mutual agreement to keep the supply chain stable
- The current shortage of fertilizers in terms of food security is also a huge crisis.He asked the world leaders to build a mutual agreement to maintain the supply chain of both manure and food grains stable.
Regarding the reforms in the United Nations
- PM Modi said that multilateral institutions such as the UN have been unsuccessful in tackling these issues. We have all failed to make suitable reforms in them.
Regarding the Ukraine conflict
- Modi called for a way to return to the path of ceasefire and diplomacy in Ukraine. He urged the world leaders to build a new world order to ensure peace and harmony.
On the energy security front
- PM Modi said that India’s energy security is also important for global growth, as it is the world’s fastest-growing economy. He said that the world must not promote any restrictions on the supply of energy and stability in the energy market should be ensured.
- He also highlighted India’s commitment to clean energy by 2030.
What is G20 Summit:
- G-20 was a group of finance ministers and central bank governors from 19 individual countries and the European Union.
- It was established in 1999 and was elevated to a forum of Heads of Government in 2008 to effectively respond to the global financial crisis of 2008.
- G-20 is a forum, not a legislative body and its agreements and decisions have no legal impact, but they do influence countries’ policies and global cooperation..
- The G20 membership accounts for
- Two-thirds of the world’s population,
- 85% of global gross domestic product,
- 80% of global investment
- 75% of global trade.
- Contribute 79% of the world carbon emissions
- G20 does not have any permanent secretariat or headquarters.
- The G20 Summit is formally known as the “Summit on Financial Markets and the World Economy”.
How G20 works:
- Since the G20 has no permanent secretariat. The agenda and work are coordinated by representatives of the G20 countries, known as ‘Sherpas’.
- The presidency of the G20 rotates every year among members, and the country holding the presidency, together with the previous and next presidency-holder, forms the ‘Troika’.
- Troika ensures continuity of the G20 agenda.
- During India’s presidency, India, Indonesia and Brazil will form the troika.
What is “New World Order”
- The term “new world order” refers to a new period of history evidencing dramatic change in world political thought and the balance of power in international relations
- It is primarily associated with the ideological notion of world governance only in the sense of new collective efforts to identify, understand, or address global problems that go beyond the capacity of individual nation-states to solve.
- The phrase “new world order” was used in the period toward the end of the First World War in relation to Woodrow Wilson’s vision for international peace