At a major international meeting in Tianjin, China, the Shanghai Cooperation Organisation (SCO) summit, China and Russia presented their bold vision to reshape how global power and influence are shared — challenging the traditional dominance of the United States and Western countries.
The SCO includes powerful countries like China, Russia, India, Iran, Pakistan, and Central Asian states, with other partners such as Saudi Arabia, Turkiye, and Qatar. These nations make up more than half of the world’s population and are looking to strengthen economic, political, and military cooperation.
Chinese President Xi Jinping opened the summit by calling for a new global system based on “true multilateralism”, where all countries have equal rights and no single nation — hinting at the U.S. — dominates.
“We must stand against power politics and promote fairness,” Xi said.
He announced that China will:
Create a new SCO Development Bank,
Provide 2 billion RMB ($280 million) in grants to SCO members,
Offer 10 billion RMB ($1.4 billion) in loans.
This financial move marks a shift, showing that China is ready to lead global finance and development within the SCO.
Russian President Vladimir Putin supported Xi’s statements, calling the SCO a foundation for a new system of stability and security in the vast region of Eurasia.
Putin said the West’s control of global systems like NATO and the World Bank has failed to serve all countries fairly, and that the SCO offers a more balanced alternative.
Indian Prime Minister Narendra Modi, once seen as leaning toward the West, also participated in the summit. Despite past tensions with China — especially over border conflicts in the Himalayas — Modi and Xi agreed to resolve their differences and work toward peaceful cooperation.
This comes just after U.S. President Donald Trump imposed a 50% tariff on Indian goods, creating tension between the U.S. and India.
Modi’s warming ties with China and Russia may signal a shift in India’s global alliances.
The SCO was created in 2001 and includes:
Founding members: China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan.
New members: India, Pakistan, Iran, Belarus (joined recently).
Observers and partners: Saudi Arabia, Turkiye, Qatar, Cambodia, and others.
While the SCO has often been seen as a symbolic group without strong action, this summit could mark the beginning of real economic and political transformation.
Xi also introduced a new concept called the Global Governance Initiative (GGI). While details are still unclear, the GGI aims to create a new set of global rules and systems that reflect the voices of developing countries — especially in Africa, Asia, and Latin America.
Experts say China is now openly challenging the U.S.-led world order by offering financial power, political support, and new institutions as alternatives.
“Xi is saying out loud what China has hinted at for years — that they want a new global system where the West no longer calls all the shots,” said Eric Olander, editor of the China-Global South Project.
Photos from the summit show Xi, Putin, and Modi walking together, sending a powerful message of diplomatic unity. Most leaders are staying in China for a massive military parade in Beijing, marking the end of World War II in Asia.
North Korean leader Kim Jong Un is expected to attend and may stand alongside Xi and Putin during the parade — a rare and symbolic moment of alignment.
This summit could mark the start of a new geopolitical era, where rising powers like China and Russia take more control of global leadership — especially as trust in the U.S. continues to decline in parts of the world.
As tensions grow between the West and the East, the world could see:
More divided global alliances
New financial institutions
Less influence from the U.S. and Europe in developing regions
