by Jagdish Keshav
As I write this piece, many things are happening around us, some visible and some aren't.
A bit of a blast from the past took place recently when Vladimir Putin refused to attend the G-8 summit at Camp David and instead sent his buddy and right hand man, Dmitry Medvedev, to oversee Russia's role. It was kind of reminder of the cold-war era, yes, 'Russia is strong and getting stronger and you better notice it' kind of a message was passed on. Did it have its effect? Maybe. Barrack Obama replied with the announcement of his absence from the APEC meeting to be held at Vladivostok. So?
In the not too distant past, BRICS countries had a summit meeting in New Delhi. The finance ministers representing these up and coming economies drafted and agreed to a resolution that will certainly have some ominous message to the world of finance. The current IRC (International Reserve Currency), the US Dollar, was relegated to a unknown spot as these ministers decided that trade amongst themselves shall be carried on in their respective currencies and not in the US Dollar anymore.
The economies of these five countries Brazil, Russia, India, China and the new entrant to the group, South Africa, already control more than 40% of the current world economy. So once this decision to ignore the (once) almighty US Dollar falls into its place, there will be loud rumblings heard on Wall Street and Bond Street where the present planning and execution of the what the world should be, takes place.
There is a possibility that apart from forming a political block, BRICS nations may go one step beyond. No, it is not expansion of any cultural exchanges between themselves, but they may form an alliance of a military type, obviously dissimilar to the platform NATO is built on. Though geographically BRICS countries diverge, a political will of sorts may soon form on the yet unannounced alliance.
Of course, these five nations are already regional powers to be reckoned with, not only economically but militarily as well. If and when that happens, the unipolar world we reside in, and which has witnessed horrific unilateral military actions that have consumed many a thousand lives, may see its final days.
The imperialistic actions of a few countries the once ruled the planet, the ex-colonial powers may as well begin to count their days as the supreme or the reigning powers on the global arena. Yes, the sun does set on empires and wanna-be empire makers!
That point will be printed in bold letters and will be the writing on the wall, so to speak for all concerned to read and comprehend. Oh, believe me, this is not at all a wishful thought of an under-fed, undernourished, eternally under a master's whip resident of a deprived third world country. It is a reality bound by the forces of nature to happen. Nature does have some laws to balance certain perspectives, you know.
To a change of latitudes and longitudes, Europe is witnessing a never before turmoil once again created by man. The bankers based in London and New York, including the infamous leech called the IMF, are the main entities involved.
Austerity is being forced on the working class of Europe while the elite and the wealthy are prospering more and more every single hour it seems. The chasm is widening ever so dangerously, and this may create anarchy in parts of Europe, that has never seen it.
For example, Greece is on a historic route that will either make her stay within the Eurozone or come out of it. If the latter becomes a fact, then all the debt it owes to European Central banks and IMF will have to be written off.
Spain, Portugal and Italy will follow the developments very keenly, I presume, since they themselves have serious issues with their economies. Not that once reigning monarchs of the globe are doing any better!
The UK is in double digit recession. They were quiet for a while, but only now they have dared to come out in public and make this announcement.
France isn't any better. With Francois Hollande now at the helm, his concentration is geared towards progress rather than cutting down, following austerity measures the banks and IMF are so keen on.
So now the inevitable has to happen. The Euro as we know it may face a certain collapse and so will US Dollar. That leaves many with a question mark. Assuming these factors, will this reality on the ground force the hegemonistic attitudes of the ex-colonialists to be halted once and for all?
Talking about Globalisation, yes it did achieve its purpose in a few ways. It made the world smaller, especially for a few. The merchant class were the ones who benefited the most with conduits to trade open far and wide to enable them to access all nooks and corners of most of the world.
This phenomenon called Globalisation created, more than anything, consumerism amongst the population, but did not auger well at all in any social or economic benefits for any. Now with the inevitable collapse and destruction of the IRC, this phenomenon will be a part of the dustbin of history soon.
But yes, at the same time, imitations of this phenomenon will stay put. Trading blocks are being set up in South America, ALBA being in the forefront. Similarly, Asia and Africa are treading on the same path.
That leaves Europe and the US more isolated in the shape of things to come. The South or the Latin American community have made themselves clear that they do not have to depend on US aid, help, trade or whatever for their developmental plans.
Yes, the local economies of Brazil, Argentina, Venezuela, Bolivia and Nicaragua, to name a few, have ventured on a different path that unifies them against the past domination of the US and its policies towards them. Their economies are on the upswing, more concentrated on the socio-economic well being of their subjects, unlike in the past. There is a lot of clarity now in the total picture of what is going on in many parts of the world.
To summarise the entire issue, a new world order that the ex-colonial powers pictured is changing to something else. A new world order where justice, equality and fraternity amongst nations may soon come to pass during this generation that certainly will auger well for the gen-next.
The powers of this unipolar world, out of frustration or desperation, may try some misadventure. Something they have already started is in Syria where they see once the Bashar govt is decimated, the road from Damascus to Tehran will be easily traversable! No!
It is not going to be another tragedy such as that which befell Iraq and Libya. For the antagonist forces are much stronger this time and will not let this happen as in the recent past that saw two sovereign nations decimated, tens of thousands vanquished, all in the name of hegemony, oil and greed!
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