Rejection is so painful to bear.

Professor WPS Sidhu discusses two reports published recently: 'The Global Risks Report 2017, published by the World Economic Forum and the 'Global Trends: Paradox of Progress', published by the US National Intelligence Council. Global Trends is more pessimistic, and even predicts a nuclear war between India and Pakistan in 2028. Anything is possible, but it is perhaps more possible that Pakistan will descend into civil war or break apart before then. With the economy faltering the government is allowing China to build an economic corridor from Kashgar in Xinjiang Province to the Gwadar Port in Balochistan. This will hand over vast tracts of land to the Chinese. Balochistan is rich in natural resources which are being looted by the government. The Baloch have been fighting for independence from Pakistan which has been ruthlessly put down by eliminating suspected separatists. The army is raising a special unit to guard the Chinese workers along the Corridor. Both the reports talk about rising disparity in income and wealth, about rising polarization of societies and the rapidly growing use of disruptive technologies. Both reports agree that there is a problem with democracy and that "democracy can no longer be taken for granted". Those who are mourning the end of liberal democracy fail to acknowledge that the problems of the world today are precisely because of such policies. Clearing Zuccotti Park, of Occupy Wall Street protesters, in a night time raid was easy but a price had to be paid in the victory of Donald Trump. What were they protesting against? They were angry because the fortunes of the top 1% increased after the financial crash of 2008, while ordinary people were losing their homes to foreclosures. Today, just 8 billionaires have as much wealth as the poorest 3.6 billion people in the world. The richest 1% in India own 58% of the total wealth of the nation. How has this happened? Globalization allowed multinationals to transfer manufacturing to poorest corners of the world. Avoid taxes by taking advantage of tax policies of different countries, which allows fat bonuses for the executives. Import of cheap goods keeps inflation low, allowing central banks to keep interest rates at low levels. This allows the rich to borrow cheap money. The total debt of the world has reached $152 trillion, 225% of the total GDP of the world. The rich buy up assets by borrowing cheaply, which makes them richer. As for democracy, it has long lost its Greek meaning of 'rule by the common people'. It has come to mean an election every few years where people have the opportunity of electing opposing sets of villains. That is why Trump's slogan of "drain the swamp" has resounded with Americans. If only he would get rid of the bunch of criminals who have grabbed power in India. It is hard to accept rejection. We understand.