In the economic arena, above all, a new global order is developing in which the European Union, the US and Japan – which previously formed a trident of power – will play a much lesser role than they currently enjoy.
The most significant development in this new international landscape is the simultaneous rise of China and India. So far, all the evidence seems to suggest that none of the emerging powers represents a risk to global or regional stability.
China, India, Brazil and South Africa do not challenge the international system. Instead they seek to play a more significant role while participating actively in it. However, from within the existing framework they do demand – and with good reason – a redistribution of power in order to reflect a multipolar world in which their positions are on the rise.