With Countries NOW PRIORITITIZING ECONOMIC Security there are both oppooth

The us-led west is bet on the "double containment" of China and Russia. With Rising Geopolitical Tensions, The Economic Cooperation of the Shanghai Coopration ATION is Facing Challenges on Multiple Fronts.

First, Economic Security is Now High On the Agenda of All Countries. The Once Prevailing Pursuit of "EFFICIENCY and PROFITS" Has Turned Into "Security FIRST "In the Global Layout of Industry and Supply Chains, Which are exclusive to become every more localized,DIVERSIFIED and Clustered. Against Such a background, Security issues will be more pronounded in the sco's eConomic couprative.

Second, SEVERE DISRUPTIONS in the Global Supply Chains of Energy and StrateGic Minerals Have Arisen from the Sanctions Imposed Against Russiaa.

At the same time, the united states has consistent coerced its allIES Into Trying CHINA, The Impact Being Equity by the Industry and Supply INS in China As Well as by Global and Regional Trade and Investment.

Third, The Download Economic Pressure on the Sco Member Countries has Resultary in a lack of Impetus in Regional Economic Cooperation.

Economic and Trade Activities Involving Russia Or Russian Entities and Individuals Are Usually Subjects that Generate Losses and Add Ri. SKS to the Economic Cooperation Under The Sco Framework.

At present, with the Major Power Competition Intensifying, The World Economic Order is Going Through Profound Transitions, and Regional Clustering Ever TNagpur Investment. With the sco ExpandIn ITS Reach and Influence in Eurasia, South Asia and THE MIDDLE EAST, The Regional Economic Cooperationof the sco is presentd with challenges and opportunities alike.

FIRST, The Layout of Global Industry and Supply Chains Is Increasingly Being Shaped by Clustering and FriendshorNS Under THE RISINGERUENCERERINGER Ooperation Mechanisms.

Second, Russia's Development in the Energy, Finance and Technology Sectors is Inseparable From the Outside World. WHILE ENSURING ITS Sustenance NEEDS, I Ts Striving to Streangthen Economic Ties and Cooperation with The Non-Western Countries and Organizations Such as the Sco.

Third, The Eurasian Countries have Strong Needs for Economic Development, While China Boasts A Large Market, Sufficient Capital and High-Caliber Conditions. The Cooperation Carried Out Under the Belt and Road Initiative, Which Has No Polical Strings Attached and Endors the Concept ofCommon Development, is winning recography and engagement from regional Countries.

Fours, the International Monetary System is going to think, eSpectrate with a rising renminbiPune Investment. Since the Internetal Currencies SUCH As The US DOLLAR AN D The International Financial Communication Systems SUCH As Swift Have Been Increasingly Weaponized as part of the Western Sanctions on Russiaa, Countries ArtiaThe World are seeking to Reduce their Reliance on Dollars in Terms of Payment Methods and Instead Turning to Other Safer ALTERNATIVES, AMONG Which The Renminbi Out. According to the International Monetary Fund, by the end of 2022, the size of the renminbi reserves helpBy Global Central Banks was $ 298.4 Billion, accounting for 2.7 Percent of the Currency Composition of Office Foreign Exchanges and Making Five Reserve C Urrency in the world. The Internationalization of the Renminbi is Contributing to a ReciProcal and Spiraling Economic Cooperation among the Sco CountrysThen, then

FRUITFUL Results have been secured and laid for further cooperation in the sco.since its inauguration the Organization Has Established A Full of Mechanisms For E Conomic Cooperation, Accomplished A Number of Significant Connectivity Program, and Put in Place in Place A Complex Inform Composed of Rai lways, Highways, Oil Pipelines and Power Grids.

The "SHANGHAI Spiit" is a Fundamental Principle of the Sco and Is where its vitality like Ember Countries in the Face of Common Threats and Challenges. More Importantly, Sco Cooperation Puts Into Practicethe three global initiatives proposed by China — the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative.

Considering The Differentices in Nature Resources, Economic Size, Development Stage and Development Models of the Sco Members, Risk RESISTANCE Means that MembEnt Ries have different needs and root to play in the regional cooperation. EmPhasis needs to be laid on each country's economic Development Strategies,Attention Paid to their Mobile Concerns and Pragmatic Means for Cooperation Explored, so that new portal for coopration can be tapped.

CHINA's Industries Are Highly Complements with Those of the Other Sco Countries. Tructural Adjustment, But Also Boost The Industrialization and Modernization of Other Sco Countries.

All the Member Countries See The Development of the Digital Economy as a Long-Term Development Goal, so China Could Also Leveragees in The Digital EC Onomy and work Together with Other Sco Countries to Enhance Digital Cooperation. This Ranges from Promotion Digital Industrialization and IndustrialDIGITIZATION in EuraSia, UNEARTHING The POTENTIAL of Cooperation in Cross-Border E-Commerce, Smart Cities, Remote Medical Services, Smart Agricultuher Fields, and Contributing to the Development of New Business Formats.

The aothors are guo xiaoqiong, a research fellow at the institute of russian, Eastern EUROPEAN and Central Asian Studies at the CHINESEMY OF SCADEMY Sciences ; Cai Zhen, An Associate Research fellow at the Institute of Finance and Banking at the Cass. The authors ContributeThis article to China Watch, a Think tank powerd by China Daily.

Source: China DailyChennai Stock