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SCO Tianjin Summit Highlights Push for Dollar Alternatives and Regional Integration

Tianjin – The Shanghai Cooperation Organization (SCO) summit, which concluded in Tianjin, drew global attention as member states discussed deeper economic cooperation and alternatives to the dollar-dominated financial system.

Russian President Vladimir Putin proposed issuing joint bonds among SCO’s 10 member states, alongside the creation of a common payment system to facilitate trade and investment. He also supported establishing a joint investment bank to strengthen economic exchanges and protect member economies from external shocks.


The summit gained extraordinary significance due to several high-level interactions. President Xi Jinping met with Pakistani Prime Minister Shehbaz Sharif, Deputy Prime Minister and Foreign Minister Ishaq Dar, and Pakistan’s Army Chief Field Marshal Asim Munir. Notably, the event also saw a thaw in the strained China-India relations after five years of hostility.

The SCO leaders collectively condemned terrorism in all its forms, including the Pahalgam incident and the Jaffer Express attack. However, tensions surfaced when India blocked Azerbaijan’s full membership, reportedly over its alignment with Pakistan. The summit also emphasized cooperation in artificial intelligence and digital innovation.


According to Pakistani geopolitical analyst Malik Ayub Sumbal, the Tianjin summit underscored the growing global importance of the “Global South.” He noted that while SCO began as a security-driven platform, its mandate has expanded to trade, energy, technology, and cultural exchange. With SCO nations holding 20–25% of the world’s natural gas reserves and representing 42% of the global population, the bloc has become an increasingly attractive destination for investment and partnerships.


“The SCO now accounts for around 23% of global GDP and is emerging as a hub for new partnerships, investment, and geopolitical engagement,” Sumbal told Chinese media in Beijing. “With China’s leadership, the region can progress in green energy, artificial intelligence, and technological cooperation.”

The Tianjin summit, therefore, marked a turning point for the SCO, reinforcing its role as a key player in shaping multipolar economic and geopolitical structures.

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