Jaishankar calls for 'Goldilocks' US-China balance

External Affairs Minister S Jaishankar urged for a balanced US-China power dynamic during a speech at the Munich Leaders Meeting. He argued that emerging and middle powers must navigate the fractured global order through self-reliance, strategic hedging, and pragmatic partnerships rather than rigid alliances. The US has recently adopted a lonelier stance, while China's expansion has intensified competition, weaponising leverage across supply chains and production.

Jaishankar proposed a Goldilocks scenario, advocating for a middle-path approach where the stronger nation effectively leverages its advantages. Emerging and middle powers across the Global South and North are reassessing their roles, focusing on self-reliance, diversification, and resilient supply chains. A new architecture is emerging, with middle powers leveraging their collective voices to stabilise a volatile multipolar world, with a reasonable degree of convergence as the operating principle.