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this effort will yield a highly accurate image,of each of these institutions clearly reflected the results of the war. The primacy of the US was established Germany Japan andItaly were ignored The five nations that formed the permanent members of the UN Security Council were the US UK France the Russian Federation and the Republic of China (Taiwan) brought in by the US as a check on the Russians This position was maintained until 1971 when the People’s Republic of China replaced Taiwan The Russians did not join the IMF and the World Bank after the Bretton Woods Conference and so the primacy of the US and Europe was established there The president of the World Bank is alwaysfrom the US and the managing director of the IMF from Europe Even in the IMF the US has over 17 per cent of the voting rights Japan and Germany were later allowed to join these institutions Both Japan and Germany joined the IMF in 1952 Japan joined the UN in 1956 and Germany joined the UN in 1973 It is hard to get countries inside the club to vacate their spots even if their positions have weakened dramatically since the original charter Nor is it easy to get other countries to get into apex positions For the 50 years post World War II the original structure held up quite well With the collapse of the Soviet Union the influence of the US became even sharper but the Russian nuclear stockpile kept it in the Security Council Over the last 15 years however the economic map of the world has been undergoing sharp change and institutional structures are increasingly less reflective Thirty years ago the US economy was 15 times the size of both China and India The Japanese economy was seven times their size Even though China quadrupled between 1986 and 2000 from $290 billion to $12 trillion even in 2000 it was just 25 per cent of the size of Japan and only 10 per cent the size of the US However by 2014 the position with respect to China has changed completely It has become 60 per cent the size of the US but has become more than two times the size of anyone else Even if it continues to grow at only half its current rate by 2028 it will be a $50 trillion economy In other words theUS will then become 60 per cent of China India’s rise was slower From being roughly the same size as China in 1986 it barelydoubled by 2000 But it quintupled between 2000 and 2014 to $2 trillion Continuing at that pace it will become a $10 trillion economy in 2028 — much bigger than Japan Germany or France Further both China and India are nuclear capable How much will the existing institutions need to adapt or risk obsolescence Today’s global institutions largely reflect past global reality China rightly believes that these institutions do not reflect its position By 2028 China but also India or Indonesia will not accept the status quo In terms of purchasing power parity this position will become even more untenable So multilateral institutions will need to adjust rapidly or be faced with the emergence of more institutions like the AIIB proposed by China or the New Development Bankset up by the BRICS nations But that is not the only problem How much sagacity must the newer powers show to manage a superior world order The world will need to learn to deal respectfully with declining powers especially those with nuclear capability Russia is a case in point As Russia declines economically with poor demographics and an overdependence on one commodity it is important not to allow the Russian people to feel marginalised and humiliated Jingoism and calls to former glory can allow its leaders domestic popularity that will be at odds with their position in the world A North Korea is bad enough but a badly behaved Russia will be a much more serious problem It has a massive nuclear stockpile and if it starts to behave like a rogue state global peace will be seriously threatened This is the challenge for the world We need global institutions to manage the world Increasingly the world will be challenged to recognise global best interest more than just national self-interest We will be challenged to create new institutions that recognise the new but don’t humiliate the old The new cannot be impatient and assertive and the old cannot lack grace or act with belligerence This will be the challenge to build a new stable world order The writer is chairman Asia Pacific Boston Consulting Group Views are personal For all the latest Opinion News download Indian Express App More Related NewsWritten by Mahender Singh Manral | New Delhi | Published: May 8 2017 4:12 am Protesters outside Mehrauli police station Sunday Oinam Anand Related News South Delhi’s Mehrauli area remained tense after a scuffle broke out between boys of two communities on Saturday evening police said Four police personnel including the Station House Officer (SHO) of Mehrauli police station have been sent to District Lines allegedly for not taking timely action police added Police registered an FIR and detained three boys after receiving a complaint from Vijaypal Chaurasia who claimed to be an RSS member and alleged that his two sons and nephew were assaulted by boys of another community Additional DCP (south) Chinmoy Biswal said “We registered an FIR after receiving a complaint from Vijaypal The four policemen have been sent to District Lines and an enquiry is underway” However the father of the boy who was detained said his son was falsely implicated and that the other group had assaulted him first He alleged that police have not filed an FIR based on his complaint Chaurasia alleged “On Saturday evening my sons were playing in the local park when a boy who was in an inebriated condition and his friends started to argue and misbehave with them After my sons came and told me about it I approached the boy and asked him to stop But he started to argue with me and began hurling abuses When passersby intervened he hurled abuses at them as well One of his friends then called other boys from the nearby locality and they assaulted us They fled when they saw locals coming to help” He further claimed “We informed police who arrived at the spot However the beat constable did not pay attention to our complaints We then went to Mehrauli police station but no one was ready to listen We finally approached local councillor Arti Yadav and her husband Gajender Yadav for help” Yadav the Delhi BJP state secretary told The Indian Express that the policemen got into a heated argument with them and refused to hear the complaint “They misbehaved with my wife We decided to protest against the actions” he said Chaurasia claimed many senior RSS leaders joined the protest outside the station “It was after Delhi BJP chief Manoj Tiwari visited the police station that they took action and registered an FIR” he claimed Meanwhile the main accused said he and his friends have been at the police station since Saturday night “We were playing in the park when the other boys started fighting among themselves We went to see what happened and they assaulted us” he claimed For all the latest Delhi News download Indian Express App More Related News The department constituted a committee which interviewed the prospective grooms.com For all the latest Mumbai News.

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