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Name of the Game is Interdependence: A Comment

Bharat Wariavwalla's ‘Name of the Game is Interdependence’ is a thoughtful and elegantly written essay that has insights for both the theoretically inclined academic as well as the policy wonk. The essay can almost neatly be divided into three parts. The first part focuses on the constraints that are imposed on contemporary great power relations (especially between China and the United States) because of multiple levels of interdependence.

Maintaining Strategic Autonomy in an Interdependent World

As I have understood Bharat Wariavwalla's thoughtful article, and from the current discourse on geostrategic global balance, three central issues can be raised. First, we live in an interdependent world that is the outcome of a globalised economy. Therefore, no country can expect to wield unconstrained power or strategic hegemony, which allows it to disregard either universally accepted behavioural norms or even national sovereignty. Therefore, it is irrelevant to talk of a unipolar world.

Name of the Game is Interdependence: A Response

According to Bharat Wariavwalla, the Manmohan Singh-led government ‘believes that the US rules supreme and that the closer we stay with it the better we serve our interests. America will fight terror, secure us in the South Asian region and make us a world power’. In order to battle such a predilection, his article seeks to show the constraints on US power, mostly vis-à-vis the emerging superpower, China, which he implicitly sees as an emerging threat to India.

Fairy Tale of American Decline and China’s Rise

Has the power and influence of the United States declined in recent years? Does the current global recession, the outcome of the US invasion of Iraq and the resilience of the Taliban in Afghanistan provide adequate rationale to profess waning of US influence? Has China's power and influence grown to an extent that can effortlessly put it on the top of the global hierarchy of power? Is the US–China interdependence equitable enough to work as a deterrent against unbolted conflict?

Name of the Game Is Interdependence

Lawrence Summers, United States President Barack Obama's chief economic advisor and formerly secretary of treasury in the second term of the Clinton administration, once said that there was a ‘balance of financial terror’ between the US and its financial creditors, primarily China and Japan. Today, China, holding some $800 billion in US treasury bonds and some $2 trillion worth of currency reserves wields financial terror against the US.