Threats Faced by Eurasia
Current Situation:
- The multi-modal India-Middle East-Europe Corridor (IMEC) was recently unveiled at the G20 Summit by President Joe Biden in the presence of the presidents of India, Saudi Arabia, the United Arab Emirates, France, Germany, Italy, and the European Commission.
- This economic corridor includes a northern route connecting Saudi Arabia to Europe via Jordan and Israel, as well as an eastern route aiding India’s connection to the Arabian Gulf via sea lanes.
- The IMEC countries’ combined GDP, which includes the EU as a whole, is over $47 trillion, or 40% of the global GDP.
The value of IMEC:
- Improve connectivity: It plans to build a dependable, affordable ship-to-rail and railway transit network to complement existing maritime and road lines, allowing products and services to be transported between India, the EU, the UAE, Saudi Arabia, Jordan, and Israel. India’s moment is IMEC.
- Development and creation of jobs in the area as a result of infrastructural development.
- By boosting regional trade and connecting Asia with Europe through a region that has never before—not since the days of the ancient Red Sea route—been thought of for such connectivity despite its potentially game-changing advantages in terms of shorter transit times, accessibility, and multimodal connectivity.
When compared to the current path, it will save time:
- Despite being longer and requiring more money for logistics, the Suez Canal and Mediterranean shipping routes continue to be the foundation of the maritime corridor between Asia and Europe.
- From JNPT in Maharashtra, it takes 11 days to cruise to Suez port and 6 days to Dammam. Consignments might arrive at Haifa after an additional 24-hour rail transit, saving three to four days of travel.
- The supply chain between the partner countries would be strengthened.
- IMEC, which claims to offer faster routes. It connects important Gulf maritime ports including Jebel Ali, Fujairah, Ras Al-Khair, Dammam, Duqm, and Salalah with key western Indian ports like JNPT, Kochi, Kandla, and Mundra.
- It will aid in undermining China’s Belt and Road Initiative hegemony in the Asia-Europe region.
- For the larger Eurasian region, IMEC has a joint vision.
- A common vision for the larger Eurasian supercontinent that goes beyond trade, energy, and digital resilience is embodied by the IMEC.
- The Corridor seeks to pave the way for a more intricate transoceanic network that stretches from the Mediterranean basin through West Asia and into the vast Indo-Pacific.
IMEC indicates a power shift towards the East:
- The IMEC acts as Washington’s and Brussels’ tacit admission of the real consequences of non-Western powers’ rise and the indisputable shift of the world’s economic and geopolitical centre eastward.
- The IMEC emphasises the significance of giving India, Saudi Arabia, and the UAE more significant global leadership positions since they are at the vanguard of reshaping the future of the economic and geopolitical system in Eurasia.
- In order to rebalance the overall power dynamics across the supercontinent, emerging powers in Eurasia like Abu Dhabi, Riyadh, New Delhi, and others will have a significant influence.
- Consequently, creating alliances with allies and partners to influence the emergence of a multipolar international order. The elderly post-World War II liberal system is symbolised by Europe, while the new world order is represented by India, Saudi Arabia, and the United Arab Emirates.
In the post-US hegemony age, IMEC represents the geopolitical relevance of Europe and the US’s Eurasian strategy:
- By accepting this transoceanic framework, the Corridor represents Europe’s most ambitious attempt to achieve geopolitical significance and unification outside of the European peninsula in the new multipolar world.
- The United States wants to create a power structure that is balanced over the larger Eurasian region.
- Strengthening the profiles of nations like India, Saudi Arabia, and Japan will allow them to project economic and geopolitical influence and actively contribute to a balanced Eurasian power structure, preventing a loose coalition of states like China, Russia, and Iran from dominating the supercontinent.
- In addition to the design and operational difficulties, the IMEC represents yet another attempt to unite Saudi Arabia and Israel under a single transcontinental framework and supports ongoing US-backed efforts to achieve a normalisation agreement between the two countries. This is an underappreciated aspect of the project.
Conclusion:
- An important turning point in the continuous Eastward shift of power has been reached with the launch of the IMEC. It represents the US, Europe, and rising countries like India, Saudi Arabia, and the UAE’s commitment to fostering a more stable and linked Eurasian order.
- However, a number of important criteria are essential to the IMEC’s effectiveness. These include evaluating each country’s justification for participation realistically, moving the project beyond a Memorandum of Understanding, addressing logistical and operational issues, and giving electricity, digital connectivity, and clean hydrogen priority during the Corridor’s initial phases.
