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Kathmandu Tuesday January 01, 2002 Paush 17, 2058.
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Looking back
The world witnessed some of the lowest
economic growth rates and worst terrorist attacks in 2001. The terrorist attacks on the
World Trade Centre and the Pentagon building in the US, that claimed more than five
thousand lives, brought the world together in a fight against terrorism in different parts
of the world. The worst global recession in years resulting from the September 11
terrorist attacks may not be over yet. Besides, issues concerning poverty, environment,
education and the rights of children and women dominate every international forum. The gap
between the rich and poor countries further widened as a result of ineffectual counter
measures and ignorance on the part of developed countries about sharing their technology
with poorer members of the international community. Emerging economic giant China at last
joined the World Trade Organization (WTO), and is relishing its economic muscle. China
became the 142nd member of the WTO at the Doha conference. And Taiwan, a breakaway
province of China, joined as the 143 third member last Wednesday after demonstrating its
continuing clout in international trade and commerce.
Twelve member countries of the European Union
formally announced their monetary union, leaving age-old animosities aside and promising
to shape a better Europe with a single currency. The other three EU countries —
Britain, Denmark and Sweden— have stayed away from the monetary union. Nevertheless,
the creation of an Euro zone, launched three years ago in a complex financial operation,
will now give 304 million people a common coinage in commerce and trade. This is no doubt
a milestone in the policy of European integration. Such a substantial and well integrated
regional trading block will certainly be in a position to exercise greater control over
world trade vis a vis the US which has been hit hard economically by the September
terrorist attacks. The 11th SAARC summit, which begins on January 4 also must realize that
regional trade blocks will ultimately rule the economic roost in the new millennium. The
political differences persisting among SAARC member countries will only make the
one-fourth of humanity living in this part of the world pay the economic price.
The conflict in the Middle East and the terrorist attacks on
the WTC and Pentagon dominated international forums in debates on how the world community
should fight the growing terrorist menace. The developed countries have continued to make
economic progress, making it harder for the least developed countries to ever hope to
close the gap leave alone catch up. Armed struggles against the ruling establishments
especially in under developed countries have also affected economic growth in such lands.
Nepal has become one of the victims of such "terrorist" activity since the
Maoist launched their people’s war. This country is yet to recover from the resulting
economic slowdown. There is much happening and much at stake, both at home and abroad.
There is much that people need and want to know. We for our part shall continue to try our
best to feed our readers with accurate and up to date information about happenings inside
and outside the Kingdom. Here’s wishing one and all a prosperous New Year. |
