In an age where trade no longer knows geographical boundaries, the roles of
political institutions and in particular, political parties and elected
politicians will be very crucial in determining whether a nation embraces
globalization and reaps it numerous advantages or opposes it, and be denied the
opportunity for growth and economic advancement.
While it may be
argued that political parties and the high-level discourses they engage in, are
the engine rooms through which our social and economic realities are sharpen as
a people, there is no denying the fact that their propensity for dissension and
their growing desire to regularly score political points, could form a clog in
the wheel of our collective economic wealth as nations of the world.
Today, there are
new global economic realities especially with the emergence of new global
manufacturing hubs for both industrial and regular household products. China
for example, has become a global manufacturing giant and a lot of countries
have formed various bilateral and multilateral trade agreements with her to
benefit from producing at cheaper costs and ultimately improving their bottom
line. Other countries like Malaysia, Brazil, Turkey and Nigeria have also surfaced
on the world economic landscape courtesy of their sustained year-over-year macroeconomic
growth, which has caused investment pundits, large multinational corporations and
governments of the ‘first world’ countries to start paying closer attention to
them.
Some of these ‘’second
and third world’’ nations, due to their diversified economic growth and the integration
of successful non-traditional sectors into mainstream GDP-earning elements of
their economy, are now described as the best soils with the highest investment
yields across the world.
In view of these
new ‘economic normals’, it would be sheer mindlessness to allow political
jingoism and blind patriotism based on misconceptions and unfounded biases, stand
in the way of meaningful collaborations with these people and nations that might
have different history or culture than ours.
With being in an
age of economic collaborations, we should expect to see increased,
well-thought-out bilateral and multilateral trade agreements world-over that
would advance the economic course of the average populace. Existing in times
like these should mean that positive stories of economic multiplicity coming
out of nations far and wide are not ignored but rather they are tested for
veracity and the opportunities inherent in them are judiciously explored.
Needless to say
that a single vote in the hand of a lawmaker could make or mar the economic
future of a nation and the blatant unwillingness of our legislature to put our
common economic prosperity ahead of their political prejudices could plunge our
societies into austerity.
Globalization has
come to stay and boost the capacities of nations, organizations and
institutions that embrace it. It is hoped that those who have been entrusted
with the responsibilities of advancing the course of the larger populace
through policies and the tools of politics will come to terms with this reality
and not allow ‘baseless partisanism’ and undue protectionism to stop our common
economic opportunities.
