Multipolarity and Regionalism: The Opportunities and Challenges for South Asia

Abstract

This article examines the complex interplay between multipolarity and regionalism in South Asia, highlighting the opportunities and challenges that the region faces. As global power structures shift toward multipolarity, with rising powers like China and the increasing influence of traditional actors such as the USA, South Asia is navigating new diplomatic, economic, and strategic engagements. However, the region’s potential for deeper cooperation remains constrained by long-standing political rivalries, particularly between India and Pakistan, and complex geopolitical pressures. This study examines the influence of multipolarity on South Asian regionalism, with a specific focus on economic integration, trade, and security. Through a detailed analysis of regional frameworks like the South Asian Association for Regional Cooperation (SAARC) and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), the article evaluates their successes and limitations, suggesting pathways to enhance their effectiveness. By integrating both qualitative and quantitative evidence, including trade data and geopolitical trends, this study highlights the need for a more coherent regional strategy to overcome fragmentation and foster sustained regional cooperation. The article concludes by offering insights into how South Asia can leverage its strategic position, youthful demographic, and growing economies to achieve collective growth, while managing both internal divisions and external influences.

JEL Classification F15, F21, F23, F53, P45, R11