The New World order
Last week Presidential Elections were held in Brazil resulting in victory of Jair Bolsonaro, a far-right politician breaking a 14 year rule of Workers Party, a far-left socialist party. This changing shift of public support from left wing parties is not just limited to Brazil.
We have already observed right wing parties forming governments around the globe during the last four years, not just in developing countries but also in the largest democracies globally. Be it the US Government, to a sudden rise of nationalists in the UK or rise of right wing AFD in Germany while half of sitting European governments are already right wing.
The important impact these changes will bring upon will be on global trade. Conservative political leaderships have gained voter strength through nationalist approach which they after assuming the government has pushed them towards reduction in global trade specially with giants including China and Russia.
The situation may not be alarming on national level, however International arena will be disturbed with new blocks forming up headed by USA and China respectively.
USA has already started pitching anti BRI slogans against China as this initiative will indeed shift the entire global trade towards China which is not affordable to the present world powers. Like many other countries, the changing world order is asking Pakistan for major decisions as it is one of the key China Belt Road Initiative, namely the CPEC through our lands.
Pakistan has to keep a balance among world powers as continuous soaring of right-wing governments is an imminent threat to giant Chinese economy, which may also disturb the planned proceeds and anticipation from CPEC. On the other hand with deepened external debts issue and severe economic crunch faced by Pakistan, we are out of flexible options which is why we need Chinese support for regaining our economic strength.
Pakistan needs to devise a strategy and include more countries to CPEC fleet in order to dilute the conservative pressure. Inclusion of Russia, KSA and Iran to the CPEC will indeed benefit Pakistan in the long run. However, extended reliance should be made on improving domestic production and utilizing the CPEC platform for improving our global trade.
It’s a wise saying that one’s threat is someone else’s opportunity and this is where Pakistan has to play its cards very safely using the global threat to our advantage.