A global crisis in the making?<\/p>\n
Day by day, the number of countries affected by the economic
\ncrisis keeps increasing. Starting in Thailand, South Korea and
\nIndonesia, the crisis has since ensnared Japan, Hong Kong and now
\nRussia. Fear of the contagion has already spread to India, the
\nUnited States and Europe.<\/p>\n
In brief, the world is moving toward a global recession. One
\nafter another, countries are sliding into crisis. Those who
\nbelieve in the domino theory are convinced that many more
\neconomies are headed toward collapse.<\/p>\n
When the crisis first started pounding Asia a year ago,
\nexperts sneered at what was known as \"Asian values\". They
\nsuggested that the three-decade-long Asian economic miracle was
\ncaused not so much by the presence of a certain new paradigm in
\nthe region, but because of a pseudo-economy -- an economy that
\nappeared healthy and robust on the surface, but that actually was
\neuphoria-dependent. When the euphoria came to an end, all the
\nartificial superior values collapsed.<\/p>\n
The most important thing that created the euphoria in Asian
\neconomies was the practice of collusion between power holders and
\nentrepreneurs. But the latest international developments point to
\nyet another interesting aspect: Economic deviations occurring in
\none country or region have an effect on other regions. Since the
\nworld economy has grown to become a global entity, the domino
\neffect becomes valid.<\/p>\n
The current global crisis has made us all aware of the fact
\nthat \"globalism\" has become a new tenet. Economic practices or
\ncanons that countries claim to have the right to adopt
\nexclusively, and are not be condemned by anyone else, no longer
\nexist. Globalism demands that any one country can police any
\nanother, and conversely must be willing to be policed by another.
\nThis means that practices such as corruption, collusion and
\nnepotism must be abandoned.<\/p>\n
-- Media Indonesia, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/a-global-crisis-in-the-making-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }