Восточная Азия: факты и аналитика (Jul 2022)
Some thoughts on evolving a New World
Abstract
The present World Order formulated at the end of the Second World War is crumbling. The UN has failed to resolve conflicts and bring peace. The issues of Jammu, Kashmir, Ladakh and Palestine are the most outstanding examples of total failure of the UN. Kashmiris are being denied the right to selfdetermination promised to them by Security Council Resolutions 91 of 1951 and 122 of 1957 and Article 42 of The Hague Regulations 1907, while rich countries’ citizens have been exercising their right to selfdetermination on a regular basis. The World Order deteriorated further after the breakup of the Soviet Union and the resulting unipolar world. Heavy borrowings from the International Financial Institutions (IFIs) by developing countries have made their debts unsustainable, while development has been elusive as events in Sri Lanka, Pakistan and several other countries reveal. Economic and social crises have also hit them hard, while political crisis is not just looming large, but consuming them wholly and is very destabilizing. Moreover, the permanent arms economies and the permanent war economies have brought a lot of miseries, destruction of infrastructure, bombing of civilians, bringing prosperity to rich armament producing countries. This is what the present economic order has given to developing countries during the last 75 years. The New World Order which can be glimpsed from the Belt and Road Initiative by China is a win-win model. It brings prosperity in both host and investing countries through income generation. Moreover, the replacing of the dollar and other hard currencies by local currencies and barter trade will ease the financial situation substantially and end US hegemony. The boycott of sanctions imposed by Financial Action Task Force (FATF) and other bodies could also be the beginning of the end of the present international financial system and its replacement by an alternative system. And finally, while sovereign countries have been protecting their national interests without challenging the US narrative on terrorism, time has come to expose the hypocrisy and the double standards inherent in the western rhetoric
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