New Delhi – The United States-led global order “is over” and the world has entered a period of heightened geopolitical uncertainty, former British Prime Minister Rishi Sunak said on Oct 13.
US President Donald Trump is “not a cause of that, he’s a symptom of that”, Sunak said on the first day of Bloomberg’s New Economy Forum in New Delhi.
“The world that we’re in now is one where we don’t quite know what we’ve settled down to, and that creates an enormous amount of geopolitical uncertainty and indeed danger.”
The world is adjusting to a new geopolitical reality, with China now a peer competitor to the US across economic, military and technological spheres, while countries including India and the Gulf states have greater freedom to chart their own course, Sunak said.
Sunak, who remains a British lawmaker, also warned of the risks stemming from dependence on China for critical minerals and key ingredients used in medicines.
Efforts to reduce those vulnerabilities could make India a “massive beneficiary”, as the US, Britain and others look to trusted partners to diversify their supply chains, he said.
“If you want a trusted partner like India that can provide that resilience for you. That to me seems the right type of avenue to pursue.”
Sunak also said that technology companies are on track to become larger net issuers of long-term debt than the US government in 2027. Bloomberg