This writing said it several times that economy is the live wire of any nation and no nation and its people can prosper without viable and reliable economy. And again, political democracy has been defined by Professor Albena Azmanova of the University of Kent, UK “has competing values, interests and ambition” (2010).
This means that the key elements of the game such as human right, justice, fairness, equality before the law, respect of law and order and generally adhere to the rules and principles of the game.
And interests of nation’s needs such as economic interplay with other nations, international relationship on social, political and economic interwoven and participation of regional, continental and global international public policy.
Every nation must have developmental ambition to fulfill. For example, Chinese serialized their forty years economic growth ambition (1978-2018) that is from growth to standard. As such, they succeeded in their ambition as the second global economic power; control 30% of global economic interplay even the former Prime Minister of Malaysia M. Muhammad observed that “the world must follow China” (2019). But, Professor George Friedman argues that “China will not be global power due to population density and geopolitical location and he observed that China will not be a unified country and their economic growth may not last long” (The Next 100 Years, 2009,USA). Friedman claimed that America control 26% of global economy with only 4% of global population. And in every five persons in the world one is Chinese.
Generally speaking, in modern times, competition is the key element in capitalist market economy. And the current global order of globalism; its the competition that control the market forces in every nation and every continent.
Covid-19 and global economy—
To be continued inshaAllah
Abbati Bako (political strategy and communication consultant)