Monday, May 21, 2018

Another aspect of globalization?

"Even by the standards of dystopia set by the the Donald Trump administration, events of the past fortnight have plumbed an alarming new nadir," fulminated Prof WPS Sidhu. How? "The unilateral spiteful decision to pull out of the Iran nuclear agreement and re-impose US sanctions, followed by the inflammatory decision to move the US embassy from Tel Aviv to Jerusalem, and the ill-conceived approach of disarming North Korea's nuclear fangs without any reciprocal 'give' have plunged inter-state relations -- not to mention Washington's reputation -- to a new low." Strong condemnation. "Trump's dangerous triple gamble reflects a lethal mix of hubris and sciolism." North Korea wants concessions from the US and has no intention of giving up its nuclear arsenal, wrote M Boot. "Trump is the one who has made a significant concession by becoming the first sitting US president willing to meet with the leader of North Korea -- an act that will inherently legitimize the ruler of the world's most despotic regime and feed its propaganda that even the world's superpower feels compelled to bow before its mighty nuclear arsenal." Diametrically opposite to Prof Sidhu's opinion. People assume that Kim Jong Un will risk total annihilation by using a nuclear bomb on the South or that his people will be willing to sacrifice themselves and their families by obeying his command. The comparison with Gaddafi by John Bolton would have been terrifying for Kim, even if some think it was a gaffe. Iran is the main support for Hamas, which is orchestrating stone throwing in Gaza. The transfer of the US embassy to Jerusalem has been followed by Guatemala and Paraguay to put pressure on the Palestinians to conclude a peace deal with Israel, but lasting peace will end any reason for Hamas to exist. The victory of Hezbollah in the recent elections in Lebanon is a victory for Iran. "Hezbollah was set up by the powerful Iranian Revolutionary Guards (IRGC) to fight Israeli forces...", and they fought together to fashion Assad's victory in Syria. Iranian forces fired rockets into Israel following which Israel bombed Iranian positions, killing 23. The arc of Iran's influence extended through Iraq into Syria and Lebanon until an alliance led by Muqtada al-Sadr won the recent elections in Iraq. Although a Shia, al-Sadr is seen to be unwilling to take orders from Tehran and has traveled to Saudi Arabia recently. Already multinational companies are pulling out of Iran. Iran being a huge supplier of oil and gas the price of oil has shot up to $80 a barrel. Good news for Saudi Arabia which is planning an IPO of its oil company Aramco. High oil prices will raise Aramco's valuation, raising more money for the kingdom. Will Iran instigate Hezbollah and Hamas to attack Israel and the Houthis to attack Saudi Arabia and will Israel and the Saudis jointly attack Iran, scaring Kim Jong Un to surrender his weapons? If a butterfly flaps its wings in New Mexico. Globalization, in other words.

No comments: