By: Muhammad Waqar Aslam
The Writer is a journalist based in Lahore. An Analyst of politics, social issues and international prospects, he can be reached at [email protected]
It all incepts with the cold war thawing in the oceans of the world and giving vent to the international trade. Not only the Free Trade zones but also mutual economic agreements came to the forefront in the post-cold war epoch. New Economic Order has already paved the way of a new world order. However, it is yet not finalized as to how the dust will settle. The hegemony of USA is not unchallenged anymore. China is all alive and kicking mesmerizing the Middle Eastern countries. alive Arab has already being taken up the Asian markets making China’s 20% oil export from the Arabian land. This collaboration is anticipated to expand further with the much-heralded CPEC’s completion.
Uncle Sam, nowadays, is helpless; hands of the American administration are tied with only a few ostensible outposts for their on-ground armed personnel’s. With the rise of Beijing as the epitome of economic accelerator, USA is anxious about its dominant status. The status quo will bring the economy on boon and ammunition rule will perish. An American convicted traitor Chelsea Manning too spoke openly to media that it is the time to focus on superseding economically than to flex-muscles.
Saudi Arab is the country which yearns for its sale of oil; be it America or China, the Saudi petrol can work wonders pertaining to the boost of economy for any nation and when it comes to China, it shall be beyond leaps and bounds. Thereupon, American petro-dollar may now no more be the petro-dollar. However, if the Petro-Yen prevails in the new world order, the likeliness of sustaining another credit crunch by the Americans will become quite blight.
Stream of words and aggression is not reflected by the Chinese administration, rather they have welcomed King Salman and so has Japan followed suit. This depicts the awareness of neo economic superpowers that they mean business and respect economic sector more than the grave conflicts. In her narrative, Pakistan’s Enduring Challenges, Sarah Watson vividly presented the forecast of Saudi-Pak-China economic triangle with the CPEC hub in between. It goes without saying that CPEC will be assuring employments and proliferation of monetary incentives to all the stakeholders providing ample pathways to China and the land locked Central Asian region.
The bright future of national economy via passage is a soothing spectacle but the water crisis, terrorism and extra territorial crimes are yet to be thought of. The attention of the authorities should be driven towards the preliminary security concerns lest the billion dollars project adopts the condition like that of TAPI (Tajikistan, Afghanistan, Pakistan and Iran). The splendor has been sacrificed in the name of Afghan extremism and Iranian Sanctions. Fingers are crossed that the OBOR will not be prone to such undue halt. The existence of any such terrible future turmoil will throw lots of dirt not only upon the national soft image but also on the already dismal GDP of Pakistan. After the evacuation of American troops and established government of Taliban situation has become quite more perplexed. The previous situation seemed run-of-the-mill but now USA has queer issues to face and to bail out from them new world order is intrinsic.
The vibes are palpable for the economic shift of dominance. The American administration may no longer persist in the driver’s seat. Time is elapsing and the Pakistani economic importance is global affairs is felt yet again and for this purpose the bail out Saudi-package has yet again given on tough terms. The clout of IMF on countries has to be shatter for making place for the economic players. Arabian Peninsula is tilting towards Sino-Pak dimension for good. In the forthcoming milieu, the queer response of the USA will be worth-noticing. . A new administration of the incumbent global hegemon is likely to change the face of world politics. The face of New World Order will be relatively concrete after the Joe Biden’s administration coup up with the internal affairs as the economic doldrums have become alarming and economic de stability turns out to be a nightmare for The States President. While the Sino wants to rule the world by taking charge of manipulating rules. The plight has to be modified with the bigger changes. The Gross product of G7 countries have lowered and the international order has become frail despite many attempts of the west to keep it intact. The majority of countries have decided to remain within the established order, whether through membership in agencies such as UNESCO and Universal Postal Union and The Paris Agreement on Climate Change and the Globally Determined Contribution Plan. A rising number of countries, particularly emerging powers such as China and India, believe the world order has not been benefiting them. They have to accorded the regard and deference they deserve, Rather than a replacement, institute changes. India and China both seek permanent membership on the United Nations Security Council. Votes in the World Bank and International Monetary Fund will be distributed. Increase in lockstep with the country’s growing economic might. Planned efforts by Joe Biden to ease tensions have yet to begin. Postwar international order appears to be eroding based on recent tensions between China and the United States. It has been replaced by big-power rivalry and beggar-thy-neighbor competition. There had been US withdrawal from many organizations and initiatives and with the new world order things will become intriguing and impactful.