{"id":145421,"date":"2021-11-08T20:55:40","date_gmt":"2021-11-08T15:25:40","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=145421"},"modified":"2021-11-08T20:55:40","modified_gmt":"2021-11-08T15:25:40","slug":"pledges-at-glasgow-could-change-the-global-distribution-of-power","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/pledges-at-glasgow-could-change-the-global-distribution-of-power\/","title":{"rendered":"Pledges at Glasgow could change the global distribution of power"},"content":{"rendered":"\n

News<\/strong>: India\u2019s commitments at the Glasgow COP-26 meeting came at a substantial cost to its medium-term economic prospects, while other developed countries such as EU, US and China will have an advantage.<\/p>\n

How new commitments will cost India its medium-term economic prospects?<\/strong><\/h5>\n

New commitments related to energy transition mean the challenge of raising the living standards of hundreds of millions of our people has become even more difficult.<\/p>\n

It is uncertain if high economic growth at the scale required to create the 20 million jobs, we need every year is possible within the parameters of India\u2019s carbon commitments.<\/p>\n

Rapid decarbonization is likely to cause a supply shock, raise prices and raise public debt<\/strong>. It will create winners and losers, and the latter could push back, as they have done against globalization.<\/p>\n\n\n\n
Must Read<\/strong>: India’s new climate targets at COP26 – Explained, pointwise<\/span><\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
How EU, US and China will benefit from the CoP-26 commitments?<\/strong><\/h5>\n

China<\/strong>: The transition from fossil fuels to modern renewables, for instance, presents China with a massive economic opportunity, given its dominance in solar, battery and nuclear power.<\/p>\n

Europe<\/strong>: it can protect its domestic industries from foreign competition by imposing green standards and tariffs.<\/p>\n

US:<\/strong> Given its advanced research and development ecosystem, the US is sure to derive economic benefits from the emerging global market for green technology.<\/p>\n

Why India can neither rely on the rich countries’ promises nor on climate financing?<\/strong><\/h5>\n

First,<\/strong><\/em> the rich countries have failed to make covid vaccines available to billions of people in need of them today. So, they can hardly be relied upon to help future generations.<\/p>\n

Second,<\/strong><\/em> the talk of $1 trillion in green financing and assistance from rich countries, cannot be believed given their past records. For instance, the $100 billion per year promised by rich countries at Paris six years ago has remained as an unfulfilled goal till now.<\/p>\n

Why it has become more difficult to address common global challenges?<\/strong><\/h5>\n

It is because the political structure of the world is not optimized to formulate solutions for humankind as a whole.<\/p>\n

Our failure to adopt coherent global approaches to a growing number of important issues, such as international terrorism, public health, environment, etc is in large part due to political structures.<\/p>\n

What is they way forward?<\/strong><\/h5>\n

There is a need to evolve a stable balance of power that creates a global order that permits global solutions for global problems.<\/p>\n

Nation states need to rethink political structures. Within countries, mechanisms of representative democracy and bureaucratic administration need overhauling.<\/p>\n

Source<\/strong>: This post is based on the article \u201cPledges at Glasgow could change the global distribution of power<\/strong>\u201d published on 8th November<\/strong> 2021<\/strong> in Livemint<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

News: India\u2019s commitments at the Glasgow COP-26 meeting came at a substantial cost to its medium-term economic prospects, while other developed countries such as EU, US and China will have an advantage. How new commitments will cost India its medium-term economic prospects? New commitments related to energy transition mean the challenge of raising the living… Continue reading Pledges at Glasgow could change the global distribution of power<\/span><\/a><\/p>\n","protected":false},"author":10316,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216],"class_list":["post-145421","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704676661},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/145421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10316"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=145421"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/145421\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=145421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=145421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=145421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}