What is Learning Curve ? – Meaning and Concept
Introduction In any environment if a person is assigned to do the same task, then after a period of time, there is an improvement in his performance. If data points are collected over a period of time, the curve constructed on the graph will show a decrease in effort per unit for repetitive operations. This […]
Why the Present Situation in the Global Economy Resembles the 1990s
Most of us would not have been that old to remember the global economic conditions that were prevailing in the 1990s. Especially, the present generation that grew up later in the decade would not be conversant with the turbulence that the global economy experienced in during those times. For those who are in their thirties, […]
International Monetary Fund: A Closer Look
The International Monetary Fund (IMF) is often in the news. Every now and then some countries approach the IMF when they need funding to save their failing economies. Almost every educated person on earth has heard about the IMF. Also, everybody thinks that the IMF is a global institution with almost unlimited access to money. […]
Going From People Driven To Process Driven
A process driven organization has certain obvious advantages over a people driven organization. Many old fashioned entrepreneurs still prefer to be people driven for the fear of losing control over their organization. However a large majority still aims as process oriented as the ultimate way to create an organization. Many have tried and failed because […]
Emerging Platforms – Cloud Computing
Emerging platforms are new technology developments and business models for which a theory is yet to be formulated, and yet there are rapid, radical innovations happening in their field. In this article, we will learn about one such platform – Cloud Computing by doing a critical assessment of its current trends, appreciate the challenges in […]
As the world watched in horror at the images of mayhem and destruction that were underway in the United States, many were left wondering as to what has become of the World’s Oldest Democracy and a Beacon for Liberty and Free Markets.
Indeed, it was hard to reconcile the global perceptions of the US as a Champion of Trade and Commerce and as a Law Abiding Country with that of the stark reality on display during the storming of the Capitol Hill.
With the events of the day proving that the United States is on a dangerous road, it is worth asking as to what the future holds for this Great Country and how would it impact both Global and American Businesses as well as the American Economy and by extension, the Global Economy.
Moreover, it is clear that Big Business has to take its share of the blame as many leading American firms tolerated and even encouraged Donald Trump for his Tax Cuts and other Business Friendly policies even as he systematically attacked each and every vestige, symbol, and institution of American Democracy.
To start with, it would be an understatement to say that the Worst is over and with Joe Biden taking over; it would be Business as Usual (Literally and metaphorically).
Indeed, with two more weeks to go before the Inauguration, it is anybody’s guess as to what Trump and his Supporters would do and moreover, the damage has already been done.
What more, Trumpism would survive and outlast Donald Trump himself and hence, it is better for the United States to start rebuilding its democratic structures as well as strengthen its foundations before it is too late.
In addition, for the American Economy to flourish there needs to be a stable political environment, and hence, it is in the interest of Corporate America to help the Incoming Administration in this regard.
The point to note here is that businesses need law and order to transact and the Wheels of the Economy run only when there are no obstacles and the Cogs in the Wheels are Well Oiled. Given what happened on Capitol Hill, it is clear that some of the assumptions of the United States being a Law Abiding Country have certainly proved false.
Therefore, this incident must be a Wake up Call.
On the other hand, what is America’s Loss is China’s Gain and as the news emanating from there showed, they are celebrating the misfortune of the Americans. India has a stake as well since the United States is one of the leading trade partners in addition to the Humungous Indian Diaspora that is settled there.
Moreover, Prime Minister Modi is keen to take the Indo-US partnership to New Heights and given how he and Trump hosted each other, there is bound to be some unease at the way things are unfolding.
Of course, in purely economic terms, the World’s Largest Economy cannot suffer an Outage without impairing the Global Economy.
With the Covid 19 Pandemic ravaging the United States more than any other country, one wonders whether America is in the midst of a Perfect Storm of Crises that can easily overwhelm the country and even push it to breaking point and eventual collapse.
This then is the central challenge before Biden and it would be a tough ask for him to get the country and the economy back on track without losing much ground further.
Indeed, as the converging crises accelerate, collapse cannot be ruled out completely.
Having said that, it is also the case that the overall institutional framework and the economic foundations in the United States are strong enough to withstand such assaults on them. Indeed, this is the country that was weathered Two World Wars, the 911 attacks, and other such emergencies and come out stronger.
The saying What Doesn’t Break You, Makes You Stronger, is very much the case with the United States.
However, going forward, there has to be Political Bi Partisanship and unless, the leading parties cooperate with each other, the Fault Lines of the Country that are cracking would soon give way to a Tectonic Earthquake.
Therefore, the Road Ahead is indeed difficult and it remains to be seen as to how successful Joe Biden would be. Moreover, the Flames of Polarization and Hatred have been Fanned Enough to Set the Barn on Fire.
In addition, Small Businesses and Entrepreneurs are finding it hard to survive the Pandemic coupled with the Dire Straits in which the majority of Americans find themselves in.
It is a Sad Reflection on the country that the Congress and the Senate cannot agree on how big the Stimulus and the Assistance to the poor be.
Last, it is high time for the Business Leaders in the United States who pride themselves on their Patriotism to Rise to the Occasion and help Joe Biden Steady the Ship.
Moreover, the American Dream seems to be fading and hence, this is the time to follow inclusive policies rather than policies that make the Rich Richer and the Poor Poorer.
Indeed, the Stakes Couldn’t Be Higher for the Country and where it Goes from Now would depend on how well all the stakeholders mentioned here come together to Make America Great Again not only for some but for all.
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What the Current Wave of Protectionism and Populism mean for the Future of Globalization and Free Trade
February 12, 2025
