On the World
Observation / European Recovery
NEVATHIR
April 4, 2018
Although the Cold War ended decades ago, military confrontations and warfare to foil transitional nations lingered while global powers fought for dominance, especially around Eastern Europe and Asia-Pacific. The wisdom of economic remedy as a alternative to destruction is not appreciated enough, with PRC a outstanding exception that economic development and friendly cooperation benefitted Greater China with bright expectations for the future.
Wars around Eastern Europe compounded with Eurozone crisis and Russian aggression as a result of historical rivalry aiming for imperial order or revolutionary recombination heralded a era of extraordinary darkness contrasted with the background of unprecedented democratization decades ago.
Although the prescription Keynes provided after the First World War may not convince modern geopolitical powers, the prestigious status PRC earned as a consequence of economic performance and diplomatic efforts may be vastly more persuasive for ambitious advanced nations and transitional regimes that building power with economy is superior to destruction and suffering.
PRC learned the lesson USA leadership provided during the Cold War and produced a successful variant with considerable appropriation from the history of Taiwan Economic Miracle. Geoeconomic strategies may differ, but hardworking nations together with reasonable international joint action may prove that good life is preferable to wars.
Choosing a workable national economic strategy is extremely challenging, but the time scale for adequate wealth generation can be as short as two to three decades, as the history of South Korea, Taiwan, or Singapore betokened.
Dangers arising from corruption, xenophobia, and financial crisis are avoidable, given expert economic management and societal awareness. Deception is common among economists, however, that arbitrary economic prescription may actually amplify harmful policies to fiendish catastrophe with decades of misery. True economic wisdom is hard to find yet pivotal for sustainable growth.
To avoid unnecessary political issues, societal modernization is as essential as economic mastery.
Back to specifics for Europe, the EU might have to develop a sophisticated agenda to properly manage relationship with Russia and to secure Eastern European restoration that Eurozone economic rescue may proceed under favorable diplomatic conditions, which is barely a spark of hope as economics researchers know that speedy Eurozone recovery requires extraordinary manoeuvre.
Then there is extreme weather and climate to be dealt with.
Beyond national affairs, efforts from the EU might prove decisive between pan-European ravage/dystopia or security/prosperity for the near future.