Xi Jinping and Putin Challenge US Influence at SCO Summit, Discussing New Global Order

SCO Summit: A Challenge to US Hegemony

• 🌏 Xi Jinping and Vladimir Putin presented a vision for a new global security and economic order at the Shanghai Cooperation Organisation (SCO) summit.
• 🗣️ Xi called for non-Western countries to take a "clear stand against hegemonism and power politics", a veiled critique of the US-dominated world order.
• 💰 Putin highlighted the SCO's revival of "genuine multilateralism" with increased use of national currencies in mutual settlements, moving away from the US dollar.

Economic Globalization and Trade Policies

• 📈 Xi advocated for more inclusive economic globalization, addressing disruptions caused by US President Donald Trump's tariff policies.
• 📉 Trump's "tariff war" disproportionately impacted developing economies like India, affecting its exports.

Bilateral Relations and Global Stability

• 👋 Putin and Indian Prime Minister Narendra Modi met cordially, with Putin calling Modi his "dear friend" and noting dynamic relations.
• 🕊️ Modi expressed hope for a swift resolution to the Russia-Ukraine war.
• 🤝 The India-Russia partnership is described as "profound and comprehensive", crucial for global peace, stability, and prosperity.
• 🛢️ China and India are identified as the largest buyers of crude oil from Russia.