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The world is perhaps in the most “dangerous moment” since the Second World War. With battlelines drawn between the West and Russia in Ukraine, where Putin threatens a “nuclear winter”, and between the US and China over Taiwan, where Xi is “flexing his muscles”, what could go wrong? Plenty, if you were to ask me, as Putin “might go for broke”, and the “immortal Xi” might yet fancy his chances. Already, Putin has actualized a “winter from hell” for Europe, and Xi is “strangling” global supply chains with his Zero Covid lockdowns, which are now the “world’s problem”. In the process, both Putin and Xi have stoked inflation in the global economy, which is already reeling from the pandemic. So, in essence, the Pandemic and Putin have “shocked” the global economy with a “double whammy”.
Of course, Putin might step back from the brink, and Xi might very well go back to his “progressive” policies that focus on the internal dynamics rather than project his power onto the external world. However, Putin is showing no signs of letting up, and Xi is attempting to stave off the “imminent” crash of the Chinese economy, what with Evergrande and all that, by becoming belligerent with Taiwan. Indeed, both Putin and Xi follow the classic playbook of dictators who cannot offer concrete things to their people and often resort to “(mis)adventures” abroad. Modi, too seems to have “taken a leaf” out of this, though his foreign policies have enhanced his and India’s standing on the world stage, where he is being “wooed” by both the West and the East.
However, India is so riven with societal divisions now that genocidal tendencies are common, mirroring the broader anarchy we see worldwide. Not that the US is exempt as Biden has not only to ensure that the “mission impossible” of retaining control over the House and Senate in November, but he also is battling the very repugnant “culture wars” that threaten the unity of the nation, and he can end up like “another Gorbachev”, presiding over the “demise” of the American Empire. Indeed, from all these “signals”, we can reasonably conclude that the world is just “four meals from anarchy”, which is something that the British spy agency, MI6, concluded recently. This week, the UK came close to another “apocalyptic” market crash, saved in time by the Bank of England’s intervention.
As if this was not enough, the “wild” swings in the global markets, and the persistent “drag” in the US economy, blamed partly on “generous” pandemic era welfare payouts, are being blamed for everything from The Great Resignation to the Quiet Quitting of the American Millennials, making many wonders “what’s with them”. On the other hand, India is in the throes of a “stagflationary spiral”, with extreme inequality and an economy that “works for the few”, where Millions of Indians are not even looking for jobs, feeding unrest and chaos. It sure looks like a “race to the bottom” in our world, where only the Top 1 Percent have any chance at survival. More so, when even Davos 2022 concluded that the global economic environment has “darkened” to the point where “alternative agendas” are needed to “save the world”.
Of course, global media and especially the Indian version is busy propagating the “myths” of India@75, having “arrived” on the global stage, having discarded the “begging bowl”, and on the way to becoming a “$5 Trillion Economy”. However, for an “aspiring” economic and geopolitical powerhouse, India@75 has to “conquer” much, hobbled as it is by its economy mainly being a “One Pony Trick” and with its Informal Economy in “dire straits”. While the government is “subsidizing its Oligarchs”, the poor languish. This is a global phenomenon as the world economy experiences a “deja vu” moment, with another “recession” brewing, no matter what our elites call it. So, buckle up, dear readers, as the coming “winter of discontent” can easily result in a “crisis by Christmas”, possibly the biggest since the Second World War.
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