What difference does SCO make on world stage?

The Shanghai Cooperation Organisation holds yet another summit on the heels of a global trade war.

Leaders of the Shanghai Cooperation Organisation are in Kyrgyzstan for an annual summit.

Led by China and Russia, the eight-member Eurasian bloc accounts for almost half of the world's population.

The meeting comes as tensions are growing between the U.S. and China over their escalating trade war.

Meanwhile, observer state Iran is seeking support against Washington's 'maximum pressure' campaign.

But regular conflicts between its members - namely India and Pakistan - cast doubts on whether the bloc can challenge the existing world order led by the U.S.

So, what purpose does this group serve globally?