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SCO threatens US-European monopoly on power: Economist
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SCO threatens US-European monopoly on power: Economist
The expanding Shanghai Cooperation Organization (SCO) alliance will create a new sphere of influence for Russia and China.
The expanding Shanghai Cooperation Organization (SCO) alliance will create a new sphere of influence for Russia and China and threatens the US-European monopoly on power, an American economist has concluded.
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The SCO is “creating a new orbit for Russia and China against the US-European alliance,” said Mark Thornton, senior fellow with the Ludwig von Mises Institute in Alabama and a research fellow with the Independent Institute in California.
“What you see here is that Russia and China are trying to establish a balancing and also a recognition of their importance in the world economy,” Thornton said in a phone interview with Press TV on Monday.
“Of course the United States is not happy about these developments because it’s had a monopoly status as a world power since the downfall of the Soviet Union and doesn’t like this idea of China and Russia trying to get their fair share of power and recognition in the world economy,” he added.
The SCO is a Eurasian political, economic and military organization which was founded in 2001 in the Chinese city of Shanghai by the leaders of China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.
SCO approved entry of India and Pakistan into the strategic alliance at the summit meeting in Ufa, Russia on July 10, thus moving towards a new reincarnation of Pan-Asianism.
The organization apparently aimed to strengthen the grouping by inviting the Indian subcontinent’s major nations and become truly multilateral.
“Eventually, the SCO expects to cover most of the Eurasian continent,” Thornton said. “Most notably this year, they held the Shanghai Cooperation Organization meeting together with the BRICS conference and the EEU (Eurasian Economic Union) and that’s very notable because it’s bringing together more than half of the world’s population [and] political leadership into play.”
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