CEI 2021: India has nothing more to lose when globalization ends: Peter Zeihan

India has nothing to lose as globalization ends: Peter Zeihan (Representative image) | Photo credit: BCCL

The Americans created globalization to make their allies support it against the Soviet Union. But the cold war is long over. Americans are neither strategically, economically, culturally nor emotionally dependent on continued globalization, and so they let it collapse.

Indians often blame themselves for not living up to globalized standards. This misses the point. Globalization was a bribe intended to encourage countries to choose sides. Global economic success is a by-product of a US security policy that is now three decades out of date. India did not join the American-led Order. India has therefore not globalized. India therefore has nothing to lose at the end of globalization.

China, however, has signed with the Americans. It is globalized. It succeeded”. But only under the heading of the World Order led by the Americans. Without this Order, without globalization, there is no Chinese economy. More than any other country in the world, China cannot exist without American strategic largesse.

And this is only the first step. Choose a measure: finance, energy, agriculture, internal consistency, trade, security, demography. China’s position – China’s position survival – in all sectors depends on deep and continuous American involvement. India does not need such a thing.

The elephant has flaws. Certainly. But the elephant does exist. This has been the case for centuries. But the dragon? The dragon is a myth that cannot exist without active American sponsorship.

Peter will speak at the Times Network India Economic Conclave on March 26.

(Peter Zeihan is a guest contributor. The opinions expressed are personal.)

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Estelle D. Eden

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