Indian Prime Minister Narendra Modi warned that the world is entering a "decade of disasters" during a speech in The Hague [1].
The warning highlights how compounding global shocks threaten to reverse years of economic progress, potentially pushing billions of people back into extreme poverty [2].
Speaking to the Indian diaspora on Saturday, May 17, 2024, Modi said, "First came corona; then wars started; and now there is an energy crisis. This decade is turning into a decade of disasters" [1]. He said that the convergence of these events has created a volatile environment for global stability [3].
Modi said the world is on the brink of a massive poverty wave that could affect billions of people worldwide [2]. He said that the current trajectory risks erasing the gains made in poverty reduction over previous decades [3].
To combat these trends, the prime minister called for swift multilateral intervention [2]. He said the international community must establish resilient, and transparent supply chains to mitigate the impact of geopolitical conflicts and resource shortages [3].
Modi said, "If we do not act together, the progress made in reducing poverty over the past decades could be undone" [3]. He said nations should coordinate their efforts to prevent a systemic collapse of economic security for the most vulnerable populations [2].
The address in the Netherlands served as a call for global cooperation to address the overlapping crises of health, security, and energy [1].
“"This decade is turning into a decade of disasters."”
Modi's rhetoric signals India's intent to position itself as a leader for the Global South, emphasizing that developed and developing nations must synchronize supply chain transparency and energy policies to prevent a widespread humanitarian crisis.
