Multipolarity and Regionalism: The Opportunities and Challenges for South Asia

Global Journal of Emerging Market Economies. 2026. P. 1–16.

Abul Hasan M., Ferdos J., Habib M. A.

This paper examines the complex interplay between multipolarity and regionalism in South Asia, highlighting both the opportunities and challenges faced by the region. As global power structures shift toward multipolarity, with rising powers like China and the increasing influence of traditional actors such as the United States and the European Union, 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 how multipolarity influences South Asian regionalism, with a specific focus on economic integration, trade, and security. Through a detailed analysis of regional frameworks like SAARC and BIMSTEC, the paper 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 paper 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.

Keywords: regionalism, multipolarity, BRI, South Asia, rivalry, SAARC, BIMSTEC