In a recent discussion, historian and Harvard professor Rana Mitter analyzed the ongoing transformation of the international economic order. Mitter posits that a significant portion of the world's GDP has migrated to the Asia-Pacific region, marking a fundamental 'sea change' in global power dynamics.

Central to this shift, according to Mitter, is the changing nature of the Shanghai Cooperation Organization (SCO). While the organization was historically viewed as a largely symbolic platform for China and Russia to demonstrate their independence from a U.S.-led international system, Mitter suggests it is now evolving into a substantive body. He notes that Asian powers are increasingly using the forum to coordinate on critical material foundations, including energy security, technological development, infrastructure projects, and regional trade agreements.

This analysis frames the SCO not merely as a political statement, but as an emerging mechanism for practical economic and security cooperation among member states. By focusing on these material sectors, Mitter suggests that the organization is becoming more central to the daily economic realities of the region, reflecting the broader trend of economic influence moving away from Western-centric institutions.