Here’s a video that suggest that there are forces and people actually manipulating this order for their selfish interest. Do click to access this video at YouTube
Almost every country is predicting low growth to no growth…and the possible risk of a Recession in 2012. The Banksters in the Banking Community are of course backing it up…European sovereign Crisis, Slow recovery in USA, Inflation in China and what else. Experience has shown that when everyone suffers, bankers get richer, at least in relative terms.
These jaded folks, selfish, greedy or otherwise are however not wrong.. the global economy certainly cannot progress on the same trajectory any longer without imploding itself through a monetary or environmental BIG BANG . Yes, the answer lies in changing the trajectory, and the tangent on which the world has revolved around for the past few decades after world war 2.
Perhaps world leaders should look at the issue from the perspective that huge opportunities for development exists every where in the world and there are huge funds available sitting on the sidelines that will deploy themselves if they have more trust in the current system.
Millions of people in Asia, and Latin America are waiting to be developed into productive and responsible world citizens through better Health and Education which never seems to reach them on a consistent basis under our current system. Billions of the world’s dollars lie idle or are currently invested in low to negative economic value projects but however cannot find their way to these potential high yield, high development areas as funds are looking mainly under the current system for short-term returns. Long Term today is 3 years!
China has done admirably over the last decade investing into less developed areas in Latin American, Africa and helping them to develop. But they cannot do it alone, especially when they are also burdened with the demands of the USA and now Europe to purchase their junk bonds.
My thoughts are that the more developed Nations of East Asia, and responsible Transnational companies should create an East Asia Investment and Development Organisation to aggregate funds to invest and develop the massive populations in Indonesia, less developed areas of Indochina, Philippines…maybe even selected countries in Latin America and Africa. This initiative if large enough may successfully throw Asia out of the current global trajectory.. delink it adequately from the Global Economy which certainly seems to be decaying due to the excesses of capitalism.
The key lies in building a TRUST SYSTEM between donor and beneficiary country and those others that in one way or other may be involved in this program. TRUST is build when the parties are dedicated to the Vision of a Better World starting with themselves.. and the true realization and acceptance that both donor and beneficiary country need each other equally in order to create the needed churn to get themselves away from the global abyss.
If a new system of Trust can be built in East Asia which so far is least affected by the Global Crisis of Credibility … East Asian countries may help to restore the faith that countries must have with each other in our interdependent world.
View Video presented by TED.COM.
Can the interests of an individual nation be reconciled with humanity’s greater good? Can a patriotic, nationally elected politician really give people in other countries equal consideration? Following his TEDTalk calling for a global ethic, UK Prime Minister Gordon Brown fields questions from TED Curator Chris Anderson
See Video. Rob Hopkins reminds us that the oil our world depends on is steadily running out. He proposes a unique solution to this problem — the Transition response, where small communities can prepare themselves for life without oil and sacrifice luxuries to build systems and communities that are completely independent of fossil fuels.
I recently wrote a 3rd Quarter Update for The ONE1 Asian DM Center which said,
“We go into the 3rd Quarter 2009 with a sense of wonderment and thankfulness. It is indeed wonderful and hopeful to see how the world and its communities, when well informed can work in synergy to counteract the systemic shocks it inevitably generates from time to time… like the financial crisis and the swine flu pandemic that we are in the midst of. Whatever the cynics may say, we are indeed living in a well tuned world!”
As the world becomes one major system…systemic failures with global effects, like what was recently experienced will occur again. Market volatility will continually challenge governments, businesses and individuals. They will have to increasingly build on their internal stability, strength and flexibility to survive and thrive.
Older generation leaders tend to believe that systems should not go wrong….when it does they point fingers, blame..and try to cut out the wounds…aggravating the situation even further.
Insulation and Isolation are hardly a solution except perhaps in the prevention of a pandemic growing into larger proportions. Even in this respect, without open communications, cooperation and collaboration between health authorities around the world, the disease will probably have spread far more extensively.
We are thankful that the new generation leaders seemed to have learned lesson from untidy, disruptive fast pace progress of the 1990s to manage the turbulence of the 2,000s.
Its ironic that while the man on the street actually blames globalization for the current state of mess, world leader’s primarily European leaders are calling for a even stronger world economic governance. They envision the world with a global central bank and a global.
Many believe that this is inevitable….while others think that this is just a European ploy to take control of the USA. The state of the economy in the EU does nlot in any way suggest that states are better off centrally managed. Surprising United Kingdom that has opted out of the European Currency order is now a strong advocate for golabl economic governance under Gordon Brown. Has he been promised the presidency of the new world order under some unholy collusion?
This debate will undoubtedly intensify over our depressed years. What is important is that citizens of the world must begin to educate themselves on this issue…and if democracy does not itself collapse…they should insist on being able to vote on this issue…rather than being ridden roughshod over by the politicians.
Today business leaders have fallen… Private sector political strength have declined. Politician are beginning to rise to the fore, taking the high road, and distancing themselves from being the cause of the problems … advocating solution that will strengthen their own power and priviledge.
Recession or prosperity, money and power grabbing will continue unabated. The question is how ordinary world citizen can protect themselves from being sacrificial pawns.
Watching for Economic Stimulus has become avid activity for many recession watches. Knowing the sectors that may be directly stimulated is of course important to businesses seeking opportunities.
- In the US, the Obama administration is seeking to get a $885b package approved by the Senate. However, in its current form, less than 30% of the package will be implemented within the first year. Its impact is estimated at 1.8% of GDP for 2009.
- Germany’s package amounts to 1.25% of GDP in 2009 and another 0.5% of GDP in 2010.
- China’s package of over 4 trillion yuan will be spread over a few years, and is estimated to be about 2% to 3% of GDP for this year.
- The UK’s £20b fiscal package amounts to about 1% of GDP in 2009. Taiwan’s NT$500b economic stimulus package, equivalent to about 4% of its GDP will be implemented over four years
This information is extracted from the 2009 Budget Debate Roundup Speech by Finance Minister THARMAN SHANMUGARATNAM, 5th February 2009.
Singapore has rolled out a SIN$20.5 billion Resilience Package in face of the economic conditions, to help preserve jobs and viable companies to pull through. This according to Lee Yi Shan, Minister of State for Trade and Industry is the largest stimulus package on a per capita basis anywhere in the world.
Click this link to read the full full text of speech which outlines the array of current measures taken by the Singapore Government to prop the economy that has already gone into recession.
More detailed information about Singapore 2009 Budget and her response the crisis may be found in the Roundup Speech by Mr Tharman Shannurgaratham, Minister of Finance, at Budget 2009 Debate, 05 February 2009.
This morning, (16th Nov 2008) New York Times carried a feature, by Louis Uchitelle. It says…
“ The failure of one or more of Detroit’s Big Three automakers would put a huge initial dent in American manufacturing, but in time foreign car companies would pick up the slack by stepping up production in their plants here, many industry experts and economists say.”
It this another signal for major change in the US System?
The Auto Industry has indeed a history of greatness and has been a lynch pin in the history of US Industrial Development. It is an American heritage. However it is one that one longer propel the nation as a global force. And it is, undeniably and inevitably a global world.
In my last post, I mentioned that Americans, having won the cause of democracy and free enterprise, must now share in the evolution of a new global democracy and free enterprise system .
The American car industry may have to go the same way.
Even if Detroit goes, American industries will continue to contribute to the world motor industry, not in the fabrication process, but in the cutting edge of creating technologies and solutions for a more efficient personal mobility.
America has voted, and it is a decisive victory for the Democrats and President Obama.
Every US election is a watershed event for the world as the US President has so much capacity to influence world events and global trends. In the last century American Presidents and their people has championed the cause of capitalism and a free society. By year 2000, there is hardly any tinge of communism left in the world…thereare even few democratic socialist movements left! Liberal and permissive values are the order of the day.
As pioneers and champions of causes, we all know that often we win the war and lose it.
Capitalism, individual Freedom are today Universal and no longer American Values. Where human injustice, tyranny exists, it is usually a an aberration of the free system rather than a remnant of any autocratice, state planning system.
The battle for a free and capitalistic world has been won. It is time to learn how to manage a Global Capitalistic Economy in an universal and not in the American Way.
Hollywood,and the American Media can of course do what it wants…but it is my main hope prayer is that under this new administration, Americans leaders will begin to see themselves as a partner in the free world and not as an advocate and defender of American Style Human Rights and Capitalism.
Under this new arrangement of shared global leadership.. ,being progressive nation is filled enterprise and initiative, she will undoubtedly continue to lead in many issues that affect the world.
It is my hope, and I prayer that America will lead in showing the world
- How to cope with the excesses of capitalism. To reduce lifestyle gaps…care for the little people..let them enjoy more of the good life as the rich and the wealthy. As the world’s most advanced capitalistic nation, it also leads in capitalist excesses. The current financial crisis coupled with a new leadership provides a great occasion for this reexamination and for change.
- As the world largest energy guzzling nation, using more energy per than any else, how to better manage energy use and develop alternative energy resources
- This election has more than any showed that the Social Networks on the internet may be used to reach, communicate and galvanize diverse groups of people in a responsible and meaningful way. I hope America their internet communities will continue to lead the world towards responsible communication on the internet.