RAISINA DIALOGUE 2025: DECODING THE SHIFTING GLOBAL ORDER

As the world grapples with geopolitical upheavals, economic protectionism, and technological disruptions, the Raisina Dialogue 2025 offered a crucial lens into the shifting paradigms of global governance.

- SIDDHARTHA DAVE

More than a forum for high-level discussions, the dialogue underscored a fundamental reality—traditional power structures are crumbling, multilateralism is faltering, and nations are being forced to recalibrate their strategies in an era of uncertainty.

THE CRISIS OF MULTILATERALISM: A SYSTEM IN DECLINE

For decades, the liberal world order, built on Western-led institutions, has dictated the rules of engagement. However, the persistent failure of multilateral mechanisms in conflict resolution, economic cooperation, and climate action has exposed deep flaws in this system. The recurring theme at Raisina 2025 was the erosion of trust in global governance. The U.S.'s strategic ambiguity, Europe's over-dependence on transatlantic security arrangements, and the rise of revisionist powers like China and Russia signal a decaying status quo.

The emergence of regional blocs and alternative financial structures, from BRICS to AIIB, indicates a move toward fragmentation rather than cooperation. While Western powers struggle to maintain influence, middle powers—India, ASEAN nations, and Latin American economies—are asserting strategic autonomy, refusing to be mere spectators in great-power rivalries.

The Indo-Pacific remains a theater of intense geopolitical maneuvering, with an increasing number of nations hedging their bets rather than aligning completely with any one power. The strategic recalibration seen in alliances like AUKUS and the Quad reflects a growing recognition that collective security must adapt to new realities. Moreover, the African continent's growing diplomatic assertiveness, through forums such as the African Union and regional trade agreements, suggests that a multipolar world is not just forming—it is already here.

ECONOMIC RECONFIGURATION: THE END OF THE DOLLAR-CENTRIC ORDER?