The end of the Cold War in the 1990s brought an end to the ideological spheres of influence that had defined the post-World War II period, envisioned as a fight between the capitalist West and the communist East.
China’s long-standing loans and investments, usually repaid through oil exports and settled in RMB, are now at risk, while US control threatens Beijing’s influence in Latin America.
Initial talks held on the possibility of India entering the programme that was started in 2017 between France, Germany and Spain to ensure European sovereignty in defence and security.
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