Overview

• Xi Jinping, Vladimir Putin and Narendra Modi met in Tianjin under the SCO banner, signaling a push for a more multipolar order.
• Xi urged deeper cooperation and proposed creating an SCO development bank to advance joint projects.
• The gathering produced no Bretton Woods–style agreement on monetary or trade governance, underscoring an institutional gap.
• Modi’s first visit to China in seven years included an hour-long meeting with Xi focused on trade balance, travel links and border stability.
• Commentary argues Western powers, led by the United States, should launch a renewal drive for multilateral institutions to curb global fragmentation.