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| G8 LEADERS OF THE WORLD |
Frank Ukonga lecture 25: Salvaging the world/Western Civilization
from Economic and cultural collapse: the urgent need of 3 -5 trillion dollars
bailout, a Functional Overview.
The World/Western civilization is heading for an economic
and cultural collapse at the first quartile of the 21 century. There is an
urgent need of 3-5 trillion dollars for the western hemisphere if they are to maintain
status quo ante bellum into the middle quartile of the 21 century. There is
also an urgent need to reinvent the west culturally, educationally and in the
aspects of competitive production, reinventing new bilateral production
relations, in the evolving world of laser fair and pluralism.
Historical perspective: The west has been spent out in a
war of necessity in the Middle East, her NATO allies and the United States.
After about 3 decades of continuous wars in the
Middle East; the attention and focus of the west to winning this wars was
diverted from economic and industrial conquest of the world. And as in an
oxymoron they ware inevitable wars to keep the status quo of the
world and guarantee the leadership of western hemisphere. So the west and NATO Alliance
are on the right track but at the expense of economic and industrial
competitiveness in a world of laser fair.
Marshal plans and Bail Outs: The first and second world wars
witnessed deliberate
The Crash of the West: In contemporary times it is becoming
obvious that the crash of the west is a Causality of a combination of economic,
industrial and cultural melue that has drastically plummeted to truculent
margins. The unemployment statistic is staggering as some western Nations have
as high as 30 to 40 % of its productive work force unemployed. The comparative
competitiveness of the western industries
has lagged behind many emerging Euro Asian
Tigers in the aspects of mass production and perhaps of affordable quality service delivery to the world market.
The Research And Development and Research and innovation portfolio of the west
in the aspects of investing competitive edge has also been portable in the past
4 decades which has adversely affected the demands of western origin goods in
the international markets due mainly to prohibitive cost of production caused
by the opulence of the middle and upper quartile of the previous century which
jacked up the living standards of the west in the halcyon days of comparative
western leadership of the global village economically , industrilly and culturally.
Post industrialism vs. industrial concepts: A functional analysis:
The western economies led by the United states have leap fogged and frog jumped
into a novae height of post industrialism but with feet of clay which got
crushing at the least prodding in the world of economic and industrial
competition from dangerously calculating industrializing Nations of Emerging g
Asian Tigers who out of cheap labor and at the mortgage of quality has pulled the carpet from
the feet of western Nations with impunity , and indignation. A Functional
approach to this phenomenon should witness the west devaluation of its convertible
currencies, and taking a step backward into the class of reinventing
competitive production lines and the evolution of novae bilateral and multilateral
production and industrial relations which would modify the concepts of laser
fair and that of GATT and WTO slightly steadily tilting the protocols of “the
game without rules “ to the advantage of the western side of the divide.
The west holding the Bull and the Euro Asian Tigers Milking
it: The western world is spending trillions of dollars, men and women and great
material investment in keeping , and maintaining world peace, stability and avant-garde
progression into the future while Euro Asian Tigers are busy milking the bull.
As soon as the West librated Iraq India, Indonesia and china moved in peddling
their cheep goods with a cynical diplomatic melue of a friendly lesser evil to
the newly liberated states of the Middle East. This became acceptable and
tolerable to the vast majority of the Middle East. Same thing they did in Afghanistan,
Egypt, Tunisia and the bulk of Asian Minor and Africa. While the west were busy
assisting to establish vibrant democracies in Africa; as soon as this is
achieved from Nigeria to Ivory Coast to Gabon to Congo and South Africa the Euro Asian economic and industrial
expansionist enters the emerging democracies with cheap sub standards goods of
Africa variation classified as underdeveloped aspects of the world but with
huge economic , market, and industrial potential.
Sino –West/World Relations: China in Vision 2020, Targets
doubling GNP by 2020: There is an urgent need for the west and the G8 to
critically evaluate the Sino West and Sino World relations which from critical analysis
is furnace out of a crass policy of economic and industrial expansionism and
domination of the world by whatever means possible. In contemporary time the
Sino World relation has been taken to new heights of Arms race, space competitiveness
, information , industrial colonization and imperialism of the global village.
This became evident in the recent congress of the Communist Party of China where it posited a target of doubling
its Gross National Product by the year 2020 and rejiging the communist party
bringing in more intelligentsias as well and a new policy trust in R and D R and
I. And a new offensive to colonize many African Nations and other emerging
democracies of the world. If the Sino West / World relations are to be continuously
tolerated then China is expected to
provide the bulk of the bailout fund of at least 2 trillion dollars of the
needed 3-5 trillion dollars bailout of the world from economic collapse.
Otherwise there is the urgent need for the west to reevaluate the Sino west relations
based on economic and diplomatic Balance of trade relation and the urgent need
for the protection of local industries
from dangerously calculating expansionists.
The EEC-PIGS Relations- the imperatives of a new approach:
The problems of the PIGS States of the EEC in the context of acute economic
problems has snowballed to new thinking that the problem may not be that of
illiquidity but insolvency which manifested out of decades of industrial and economic
stagnation and uncompetitiveness in the emerging order of laser fair. Whence
this coupled with some taint of financial and budgetary recklessness that has
led to an astronomical debt burden of more than 350 billion dollars unserviceable
and insolvent. A bad case. This secondary backlash of this manifested in
inflation , unemployment and closure of many businesses within the wealthiest
world economic community the EEC. And for the bail out to be effective there is
the need to exercise some control over the economies of the PIGS States by the finance
department of the EEC and also to directly manage the bailout as conditionality
for assistances otherwise it would be a forlorn hope just pouring hard money into
the economies of the PIGS States in the sake of bail out. And in
general for the EEC to remain wealthy and healthy there is the urgent
need of all member states to conform to budgetary and financial control of the
economic and financial regulations and recommendations of the EEC perhaps there
is the need to persuade Britain and Germany to accept these new conditionality’s
for the benefit of all member states and the new world order in generality.
United States- EEC Relations: The United States is a
traditional partners of the EEC and the relation has become a Siamese marriage
of convenience but in recent times, the United States are trying assiduously to
decouple itself from the economic quagmires of the EEC and looking inwards to
rejg its internal economy. This strategy has excercerbated the economic woes of
the EEC in general. But the right thing to do is for the United States to come
out boldly to salvage the EEC from this economic crisis by providing a sizable portion
of the bailout fund for the world to be back on sound track. In this context
the United States whose debt portfolio is in the neighborhood of 20 trillion
dollars will not edge over if it goes a little
further in to a new debt of 2-3 trillion dollars to bailing out Europe, United
States and Africa from immanent economic collapse . The idea of H.E. Bill Clinton
of the clintonian economic theory of recalling American funds in excess of 2
trillion dollars outside of America for the bail out of United States economy
is good but in the Schumpeterian sense, is a parochial polit economic thinking.
As these strategy potent grave dangers for the future world outreach and
significance of the united states in an emerging
new world order of finance backed
diplomacy and economic reciprocities. Dialectics and historical movement of
capital has proved without doubt that shrinking inwards is a dangerous strategy
as it cost far much higher to reposition modern states to same status quo ante
bellun after a brief period of shrinking which though envisaged as temporary
but begins to wear the semblance of reality and
permanence in a portable distance of history yonder…..as symptoms of a
state in decline. We must differentiate the methods of bailout of companies
with limited liabilities from the bailout of Nations and states. The ingenious
bailout of Lee Iacocca of Chrysler motors in the 90s by the applications of shrinking
concepts and prudent reallocation of funds and functions cannot be near similar
to the bailout of the United States economy and the world in the 21 century.
And in this context Adams smith, Ricardo , Keynesian and classical economic theories
are at Concordia that more capital injection and infusion would always be
needed and applicable for bailout of Nations in decline. Of course we need to
harp on prudency, invigorate research and development, research and Innovations
addressed to become more competitive
.And even drastic policy of restrictions on imports addressed to protect local industries
could be considered as rational and expedient. To encourage exports the United States
may kill several birds with one stone by considering devaluation of the dollar
by 7-10%. Which will just be adequate to provide the bailout funds for the
world as well as rejig the United States economy back on track?
Sino United States Relations: There is the urgent need for serious
bilateral talks between the United States and China addressed to reposition the
trade imbalance between the two great Nations which has made china richer and
the United States resilient.
Sino African Relation: Malam Sanusi Lamido the Governor of
the central Bank of Nigeria, in his well publicized article published by Vanguard
Newspaper of the 16 th of March 2013, has warmed all African states of the new trends
of underdevelopment that is unfolding in Africa due to the dumping of sub standard
Chinese goods in the African market and closing the shops of local manufacturers
as dangerous and potent grave dangers that will inhibit there rapid industrialization
of African countries and proffers solution of Sino African relation on the
basis of technological transfer attached to access to the African market in the
emerging Sino African relations which many sees as a rightly guided streams of
consciousness.
Prince Frank Onaivi Ukonga
Chairman SDP Edo state & Presidential Aspirant 2015
