Since the Second World War ended in 1945, the world has counted on an increasingly dense web of multilateral organizations and forums (the United Nations and the Non-Aligned Movement, for example, in both of which India has played major roles) to defuse global and regional tensions and to resolve conflicts. Other multilateral organizations have aimed to support development and stimulate global or regional economic growth (the World Bank and its regional counterparts, the Organization of Economic Cooperation and Development, the G-20). However, effective cooperation has recently become strained by a variety of factors: wars of choice, the COVID-19 pandemic’s significant negative economic fallout, and hardening of geo-strategic stance by several major countries. The discussion attempts to answer the following questions:
Are we irremediably sliding towards a major conflict between some or all of them, as the world was in the 1930s? Or are we better equipped to cope with significant geo-strategic and economic tensions today?
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