[EN] What Are Putin, Modi, and Xi Really Smiling About?

📰 What Are Putin, Modi, and Xi Really Smiling About?

The Hidden Truth Behind the SCO Summit Photo Op

September 1, 2025 – Tianjin, China
At the Shanghai Cooperation Organization (SCO) Summit, a photo of Vladimir Putin (Russia), Narendra Modi (India), and Xi Jinping (China) smiling together quickly circulated across global media.
At first glance, it symbolized unity — but behind those smiles lies a complex web of border tensions, shifting power dynamics, and strategic diplomacy.

🧩 Beyond the Smiles: “The Dragon and Elephant Are Not Dancing Yet”

Former Indian ambassador to China, Gautam Bambawale, said:

“The dragon and the elephant are not dancing yet.
They’re simply observing each other from across the room, trying to assess the meaning of their relationship.”

• The India-China border dispute has remained unresolved since the deadly 2020 clashes.
• China’s deepening military and economic cooperation with Pakistan complicates matters.
• PM Modi’s swift departure to Tokyo after the summit highlights India’s balancing act between alliances.

🌍 SCO: Big in Size, Small in Impact?

The SCO includes major economies like China, Russia, India, and several Central Asian countries — together representing nearly half of the world’s population.

But as Jeremy Chan of the Eurasia Group notes:

“Although often seen as a security alliance, SCO has little real military weight.
It’s been essentially absent from global crises like Ukraine or Gaza.”

✔️ The SCO is more symbolic of multipolarity than it is an active solution-provider.

🇺🇸 Trump’s Tariffs, and the US-India Equation

The summit took place as President Donald Trump’s renewed tariff threats rattled global markets.

• Trump posted on Truth Social that India offered to reduce tariffs on US goods to 0%.
• However, he criticized the timing as “too late,” accusing India of relying on Russian oil and weapons instead of American imports.

India seems to be keeping all strategic doors open — building ties with the US while continuing conversations with Beijing and Moscow.

📸 The Photo That Says It All — and Hides Even More

• The New York Times called the image the “smiling troika” — referencing the revived triangle of power between Putin, Modi, and Xi.
• But beneath the smiles, there’s a strategic chess game in play.
• India skipped the SCO military parade, clearly signaling the limits of this thaw.
• Modi’s rapid exit for a Japan summit emphasized India’s strong commitment to its US-led Indo-Pacific partnerships.

🧭 Multipolarity — But Defined Differently

This contrast could shape how SCO cooperation plays out moving forward.

🇰🇷 Why This Matters for South Korea (and Global Investors)

1. Don’t be fooled by optics — pay attention to real policies and shifts.
2. SCO has limits — but member dynamics can still influence trade and diplomacy.
3. For investors: watch how geopolitical risks affect supply chains and emerging markets.

🧾 Final Thoughts

This wasn’t just another summit.
It was a window into how global power blocs are being redefined — and how countries like India, China, and Russia are positioning themselves.

📸 That iconic smile may signal harmony, but the truth lies in what happens next — not what’s captured on camera.

📌 Source: CNBC
🖋️ Reporter: Supreeya Srivastava
🗓️ Published: September 1, 2025