WORLD order – a system controlling events in the world, especially a set of arrangements established internationally for preserving global political stability.
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Global political stability has never been reached and in, all probability, never will be. There are fluctuations, of course, but in my jaundiced view there is now less political stability than before.
I was impressed when, in 2015, an agreement was reached between the United States, the European Union, and Iran in connection with Iran’s use of nuclear power. This agreement held for a year or so but was then demolished by the United States president Trump who, with well-established antipathy towards his predecessor, president Obama, called it a ‘lousy deal’.
Iran, now in a bad economic position, has resumed its nuclear program. So far, the adverse consequences of the resumption have not been apparent. I was disappointed with the European Union which did not appear to challenge or even mitigate the consequences for Iran of the American pull-out.
The US seeks to punish any entity which has dealings with Iran. I understand that the German conglomerate, Siemens, originally contracted to a project enhancing Iran’s rail network, is no longer able to do so.
The banding giant, HSBC, had been approached for a loan by Huawei, the Chinese telecommunications company. Details are murky but there has been finger-pointing between HSBC and Huawei. HSBC has claimed that Huawei was economical with the truth as to whether the loan was for projects which could help the Iranian economy. Furthermore the Chinese have alleged that HSBC has divulged information to the American authorities which, under accepted bank secrecy customs, should not have been. Whatever the truth, the resignation of John Flint, HSBC’s CEO has occurred.
The US now has information which has caused it to file charges against Huawei’s CFO, Meng. She is now contesting US attempts to have her extradited from Canada where her movements are seriously curtailed, primarily to her home in Vancouver.
All this paints a picture of an intensely globally-connected planet. Globalization should have resulted in a leveling up of standards of living throughout the world. Unfortunately, it has failed to do so.
The Philippines, under president Duterte, has seen closer ties to China and possibly a less-close relationship with the US. The term of Sung Kim, the US ambassador to PH, ends soon. I hope his successor has Kim’s diplomatic skills which I believe have helped to preserve a détente with the US.
The relationship between the US and China is deteriorating somewhat. US will not ‘win’ a trade war with China. Americans are less prepared than the Chinese to accept economic hardship as a concomitant to patriotic duty.
Where does that leave us?
I hope ASEAN becomes a more integrated entity. By doing so, it can resist challenges of trade constraints which threaten economies everywhere.
In any case, PH has some good economic fundamentals which under current BSP stewardship will continue.
But more effective work against poverty and corruption is sorely needed./PN
