Like our Facebook Page

Early Times Newspaper Jammu, Leading Newspaper Jammu
Breaking News :   Hurriyat reopens Khoon Ki Dukaan! | DC Rajouri throws Govt orders into bin | Ajeet Sahu relieved for Ladakh, Raju gets Jal Shakti | COVID-19: Kissan Melas organized by Agriculture Deptt in Jammu can create havoc | Sonamarg Development Authority set to lose its office building! | Amid COVID crises, JK Govt goes for major budgetary curtailment for FY 20-21 | Alleged encroachment of cremation ground land at Lower Barnai hurts sentiments of people | Three and half years on residents of Sudeen Panchayat crave for developed road | Four fresh deaths push COVID-19 death toll in JK to 159, 387 new cases reported | Commissioner Secretary releases Annual Administration Report, Digest of Forest Statistics | Mehbooba exposed yet again | A Concern on the World Population Day! | India China Dispute: Courage of conviction and righteousness will ultimately prevail | BGSBU holds webinar on Digital Ethnography | UDA demands plasma bank for Covid-19 patients in Jammu | Ladakh admin procuring tech, expertise for Jal Jeevan Mission: L-G | Coordinator NEET calls on Div Com | COVID-19: Govt evacuates 2,05,603 stranded JK residents; 1,40,184 via Lakhanpur, 65,419 through special trains | ATA felicitates corona warrior teachers | Bootlegger nabbed with 13 bottles of illicit liquor | JKMEF condemns attack on health employee | COVID-19: JK Govt brings back 2924 passengers from various countries to Union Territory | Bovines smuggler arrested, 4 animals rescued | Samba Police reunites missing girl with family | AJKLTF organises Gurubandan Karyakaram | KPC appeals KP community to observe July 13 as Black Day | YRS questions silence of UT Admin on declaring holiday on Maharaja Hari Singh's birth anniversary | VC SKUAST-J for adopting dairy farming with focus on value addition of milk | BSP expresses concern over increase in murderous attacks | Munish Gupta asks government to step in & solve problems of residents | J&K UT plans to provide tap connection to all rural households by 2020 | M Raju reviews development projects in Anantnag | 78 fresh positive, 1000 active positive cases, 42 deaths so far in north Kashmir | With no local presence signal of Pak mobile networks in border areas of Rajouri, Poonch | Irrigation FC department Poonch becomes hub of corruption | HC grants time to file report regarding conduct of Amarnath Yatra | GST intelligence raids industrial units in Kathua | Justice still eludes families of Ramnagar children died after consuming spurious drug | Action will be taken on Revenue department’s report: Police | People defies ban offer prayers in mosques, main shrines remained closed in Kashmir | Judge Small Causes acquits all accused | Government mulls to designate more hospitals for COVID-19 patients in Kashmir | Advisor Baseer Khan reviews arrangements for Amarnathji Yatra | Training programme for J&K teachers concludes | SANGARSH announces main functionaries of CEB for 2020-22 | System of providing personal security needs a thorough review: Brig Gupta | Churangoo’s derogatory remarks bring vast criticism | GDC Ramgarh organizes awareness programme | Many join Aam Aadmi Party | KCWT organises Ayurvedic medical camp | GGM Science College organises online inter college poster making competition | JKBOA holds condolence meet | Kavinder takes stock of basic amenities in Gandhi Nagar constituency | Rs 75 cr annual action plan approved for horticulture sector in J&K | NSF protests against reappointment of JKBOSE chairperson | AJKPC demands security audit to ensure safety of Panchayat members | DC Reasi convenes meeting of District Environment Committee | ABVP Jammu demands roll back of semester system | BMS oppose amendment in labour laws | WSGNNJ appeals JMC to restart sanitation drive | ARTO Poonch starts vehicle trial services | Horticulture Deptt organizes awareness camp | Former Minister Randhir Singh demands dry port in Ghatti | 625 kg poppy seized from Punjab-bound truck in JK, driver held | Awareness camp organized at Ramgarh Samba | BJP demands security for political workers facing threats in J-K | J-K begins process to provide high-speed broadband access to villages | BJP gen secy Ram Madhav likely to visit Kashmir on July 12 | Postal services resume in Srinagar following easing of COVID-19 lockdown | J&K bank Corporate HQ in Srinagar remains closed for 2nd day | Power shut down | Pak shells border areas in Rajouri, Army personnel martyred | Court reject bail of employee who duped Rs 12 lakh | Curbs likely to be back as COVID-19 deaths continue to rise in Valley | Lavender growers in J&K urge use of technology to boost domestic industry | NGT seeks report on dumping of solid municipal waste in Wullar Lake | FC Revenue visits district Ramban, inspects NH-44 four laning construction work | Jammu shopping mall fire under control, no human injury | Back Issues  
news details
Covid-19 and global systems: Capitalism vs. Socialism
5/29/2020 12:03:42 AM
Dr. Rajkumar Singh

After the pandemic is over, we should expect a return to normal, especially in the context of the economic crisis. The international community can mitigate the consequences of COVID-19 only through cooperation and by strengthening the institutions of multilateralism. There are many examples of how, under quarantine, ordinary people have tried to help each other. Now it’s up to the leaders of the states. This pandemic has sparked a wave of predictions about a new world order. Many prominent politicians and scholars, including Henry Kissinger, believe that the pandemic will result in a global economic downturn, the worst since the Great Depression, which in turn will affect the system of international relations that developed after the end of the Cold War. Characteristic features of this system were liberalism in the political field and globalisation in the economic field. Although the problems with the value system of liberalism and globalisation appeared before the COVID-19 pandemic, the so-called “coronavirus crisis” only exacerbated the political and economic situation, which was already under stress due to conflicts, defaults, trade wars, and so on. Undoubtedly, the world expects an economic crisis, and depending on how deep it is, it will influence the “behaviour” of the masses, governments and states.
Capitalist vs. Socialist system
After the Second World War, two camps were formed in the world – a capitalist one and a socialist one. The latter was based on a strictly centralised non-alternative power, a command economy and closed borders. The collapse of the Soviet Union and the reforms in China that symbolised the end of the Cold War – events that the American scientist Francis Fukuyama called “the end of history,” demonstrated the bankruptcy of the command economy and closed borders. The capitalist world did not develop according to a single model. Conventionally, it represented two models – a classical liberal or “neo-liberal” one (laissez-faire, such as in the USA) and another based on the ideas of social democracy, which prevailed in most European countries (a welfare state). In the thirty years that have passed since the end of the Cold War, the world has faced two serious economic crises – in 1997–1998 and in 2008–2009. Most experts previously expressed the view that extreme liberalism negatively affects the economic well-being of citizens, the power of large industrial and financial corporations must be limited, and the market should be periodically regulated by the state. Against the background of a demographic transition, environmental degradation and the rise of the middle class, calls were made for a revision of the open trade system, in which more and more production capacities left the developed countries for the developing ones. In the international arena, the situation has deteriorated over the past thirty years due to the intensification of manifestations of nationalism and ethnic and territorial conflicts caused by this phenomenon. The threat to the values of liberalism and globalisation also came from the search for identity, including religion, which was reflected (in its extreme form) in the activation of ISIS in the Middle East.
Nation -states and Covid-19
In addition, the pandemic also exposed the weaknesses of nation-states, in the field of healthcare. In the context we all are of the opinion that centralised authorities were able to more effectively respond to a large-scale challenge. In this regard, the reaction of China and Singapore can be compared, on the one hand, to that of the United States and Italy, on the other. It is believed that the outbreak of COVID-19 may lead to the introduction of a system where citizens may be totally monitored by the state, thereby creating a threat to human rights. Supervision is a characteristic feature of every modern state, including both democratic and authoritarian ones, which make use of constantly-evolving technologies. The market economy, with its credit cards, mobile phones, applications and social networks, which hundreds of millions and more use completely voluntarily, is pushing for this. In increasingly complex societies, the role of the state inevitably intensifies. Whether we like it or not, in the near future and in connection with the impending economic crisis, it is precisely the bureaucratically and administratively effective state that will be able to provide a minimum standard of welfare for its citizens. The idea of a universal minimum wage also arose not only in connection with crises, but due to the automation of production and resulting job cuts. Most of the systemic changes in the world have arisen due to the transformation of economic relations and related political values. Wars were often the result of a systemic crisis. In the 20th century, after two world wars, mankind came to the realisation that it was existentially necessary to regulate international relations. This is how the modern “international community” with the UN and international structures appeared.
Today, disputes about how best to respond to these and other global challenges are being fought between adherents of the liberal order and supporters of centralised power. Most countries of the world which enjoy a high standard of living have adopted the liberal model. However, it is obvious that attempts to replicate it, especially in regions such as the Middle East, can lead to devastating consequences, as has already happened in Iraq, Libya, Syria and Afghanistan. The migration flows caused by these conflicts and the intensification of radical movements ultimately threaten the same liberal countries which promote theses values. In the near future, none of the above parties is unlikely to be expected to win. During the Cold War, the word “coexistence” was in common use among politicians. Obviously, it is time to introduce this concept back into modern international relations.
Shape of things to come
Today, Governments of the world are struggling to fine-tune a balance between saving lives and the Economy, the US and Europe did not lose time to up the ante with China. China stepped up its relief operations and was quick to send relief material across the globe. India too has reached out to China for COVID 19 related PPEs, blood test kits and KN 95 masks. This is the time when international relationships will be reset. While the US is reportedly paying for its manufacturing industry to shift base back to the US, India needs to step up its diplomatic efforts in reaching out to Germany, USA, Japan and South Korea as a viable alternative to China with a minimum cost of relocation. The Chinese will continue to be belligerent with its modernised armed forces, creation of Marine Expeditionary Forces self-contained, for interventions in the prominent sea lanes of communications. The creation of bases in the region has not been challenged. The naval forces of the region to include India, Japan, Australia and New Zealand along with the US needs to create a viable challenge to Chinese domination. The US has its presidential elections, the Corona Pandemic and the re-election has shifted the US attention from the Global Superpower to its domestic politics. The Chinese and the Russians will use this opportunity to gain space in the international arena to gain their dominance in the Middle East and Africa. OBOR will have to be contested by the US and its limited allies like the US President’s yoyo approach to issues from seizing moments of opportunity for political gains. All of these propositions about the international system are being tested in real time, so we shall see how reality conforms to different preferences and expectations.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
Early Times Android App
BSE Sensex
NSE Nifty
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
J&K Govt. Official website
Jammu Kashmir Tourism
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
Train Enquiry
Jammu Kashmir Bank
State Bank of India
Passport Department
Income Tax Department
IT Education
Web Site Design Services
Jammu University
Jammu University Results
Kashmir University
IGNOU Jammu Center