The dilemma the world faces today, in terms of its economic survival, is of its own making. Especially when, what is, or more precisely, what used to be, the most powerful democracy and economy in the world, adopted two things which have only back-fired on them and the world at large. All in the name of getting countries ideologically opposed (both political and economic) to it to accept democracy and the principle of Free Market Economy.
Don’t get me wrong, I am a strong and eternal proponent of democracy and freedom as well as true “free markets” and will continue to support it till my last breath. But what we see today is the ideologically opposed country(ies) have managed to gain a stranglehold on the world economy without having to even acknowledge that democracy is worth pursuing. The countries continue to persecute their people and so far as free market economics is concerned, have tricked the world community by following the adage “if you can’t defeat them join them and use the system to achieve your goals”. They pegged their currency to the US Dollar and continued their nefarious manufacturing practices and continued oppression of its people all while enjoying MFN status with the most powerful democracy in the world.
Tools such as MFN – Most favored Nation status and opening the markets to Free Trade have only begotten a monster that now threatens the free world, and other fledgling economies who are and were always democratic.
What baffles me is the logic that was followed by the most powerful democracy, where it chose to befriend the most hostile, egregiously imperialistic, expansionist and pathetic human rights violator on the face of the earth instead of other democratic nations the world over. The mileage this would have gotten (of befriending democracies) instead of following what they did cannot be simply imagined. If a country that has a system that violates human rights can be so successful economically, then imagine what would be the results if the most powerful democracy in the world joined hands with the democratic countries of the world?
By now I think you all must have guessed which countries I was referring to above. – USA and China among others.