World is badly in need of some form of reglobalisation: EAM Jaishankar

Washington, DC [US], September 29 : External Affairs Minister S Jaishankar on Friday said that a particular model of globalisation has evolved over the past 25 years but the world now is "badly in need of some form of reglobalisation."
In his address at the Hudson Institute in Washington, DC, Jaishankar said, "If you put it together, I would suggest to you that the world is badly in need of some form of reglobalisation, that globalization itself is undeniable. It has struck very deep roots."
He further said, "It has tremendous benefits. Nobody doubts that. But, the particular model of globalisation which has evolved over the last 25 years obviously has a lot of risks inherent in it. And today, how to address those risks and create a safer world is part of the challenge facing the Pacific order."
On the discussion on India’s role in a New Pacific order, EAM Jaishankar said, "It's probably, a new idea, something very different to think of India, in terms of, the Pacific region, the Pacific community of nations...We today do much more business to the East of India, than we do to the West of India. We look at our key trade partners. We look at our important economic partners...Now what it has given rise to in the last few years is the concept of Indo-Pacific that too has been readily embraced by many and contested by a few. But, again it's a concept that has actually gained ground."
He said that the idea of India making significant contributions to the Indo-Pacific order is something that truly reflects the current global rebalancing.
"So, in some ways what you are seeing today of Indo-Pacific coming together --the idea of India contributing in many ways to Indo-Pacific order is something which reflects really the rebalancing that today is taking place n the world.... rebalancing in which the changed capabilities and positioning and attitudes of the US is a central driving factor...," Jaishankar said.
"But, also in one in which the rise of China and its implications is a very, very crucial issue," he added.
Speaking about the ties between the US and India, Jaishankar said that the two nations have always dealt with each other in the past, sometimes not entirely happily but working with each other is an "uncharted territory." 
Jaishankar said, "… India and the United States have never really worked before together. I think that is a very thoughtful observation, because dealing with each other is not the same as working with each other.
"And in the past, we have we have always dealt with each other, sometimes not entirely happily, but working with each other is really uncharted territory. It is a territory which we have both entered in the last few years. And it has required both of us, really, to overcome what my prime minister called the hesitations of history when he spoke to the Congress a few years ago. So, how do we create that ability and the convergences and hopefully the comfort to work together. I think that would be very crucial to the future of the Pacific order," he added