A moment of reckoning in geopolitics is upon us

The Gaza war looks like the second of three unfolding challenges to the US-set world order. India should weigh multiple factors in deciding its geopolitical role beyond UN abstentions

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The efficient market hypothesis, by which all that participants know gets instantly priced in, has been rattled yet again by another bout of geopolitical volatility. Uncertainty is up. Barely a year-and-a-half after Russia invaded Ukraine, the US-led world order has been challenged in West Asia, possibly by Iran, whose proxies dot the region. Might a third theatre of conflict, should China move to ‘re-integrate’ Taiwan, be next? Last week, US President Joe Biden alluded to a larger plot in play. "I’m convinced one of the reasons Hamas attacked when they did—and I have no proof of this, just my instinct tells me—is because of the progress we were making towards regional integration for Israel," he said at a press meet, "and regional progress overall." If truth has already been the first proverbial casualty of the Israel-Hamas war, a prosaic one could come to be the India-Middle East-Europe Economic Corridor (IMEEC) announced during the G20 summit in New Delhi, a trade route intended to aid India’s emergence as a global supply hub. That the US issued a public reminder of this,