S Jaishankar Warns of ‘Weaponisation’ of Globalisation by Dominant Players
23rd January 2024Nigeria, [23-01-2024]: External Affairs Minister S Jaishankar, on his official tour in Nigeria, drew attention to the alarming trend of globalisation being “weaponised” by dominant players who exploit currency, trade, and tourism to serve their national interests.
Addressing the Nigerian Institute of International Affairs in Lagos, Minister Jaishankar highlighted the multifaceted ways in which globalisation is being utilized as a tool of dominance. While acknowledging the positive aspects of globalisation, he emphasized the challenges arising from its manipulation by influential players on the global stage.
Jaishankar pointed out that powerful players leverage their market shares on the global platform to further their specific national objectives, effectively turning currency, trade, and tourism into weapons. He expressed concern over the persistent world order established in 1945, suggesting that it remains unchanged despite the significant increase in the number of United Nations members.
“In a world where dominant players, whether as producers or consumers, readily leverage their market shares for their particular national purposes, we see the weaponisation of currency, trade, and tourism,” Minister Jaishankar remarked during his address.
Acknowledging the need for a shift in the global agenda, Jaishankar emphasized the collective objective of restoring the world to its natural diversity, which has been distorted by a historical period of Western domination. He pointed out that many nations, having attained independence, are now focused on building their societies and nations.
Highlighting the importance of the Global South, Jaishankar underscored that it represents a mindset of solidarity and self-reliance. He emphasized that planetary progress hinges on the advancement of the Global South and that the global conversation is currently centered on its development.
“The world is not going to see planetary progress without the advancement of the Global South,” he stated, emphasizing the need for a collective effort to restore natural diversity in a post-colonial world.
During his two-nation tour to Uganda and Nigeria, Minister Jaishankar attended the Non-Aligned Movement (NAM) Summit in Uganda and co-chaired the 6th Joint Commission Meeting between India and Nigeria.
