Economic Coercion
The phrase “economic coercion” is the latest in descriptions used by the West about how certain countries (mentioning no names) use incentives such as investment, construction, or other activities that benefit another country to advance their own interests.
People tend to forget, though, that in the past, the West has been just as guilty of such activities and continues to be. Witness the sanctions imposed on countries who engage in activities that do not appeal to the United States, the EU or others.
It has to be said that, at times, economic coercion has benefits. As an example, part of the reason that apartheid in South Africa came to an end was because other countries sanctioned South Africa under the white regime. Another example, lies in the current sanctions on Russia, following its invasion of Ukraine. Although have these really worked?
The system is, however, open to abuse. Witness Donald Trump’s withdrawal from the treaty with Iran in 2018 – three years after Barak Obama signed it - and his unilateral imposition of sanctions which have resulted in a considerable decrease in the quality of life and an increase in anti-US and anti-Western rhetoric from Iran and the Middle East.
Let’s face it: we all practice “economic coercion” of one sort or another when it suits us. At times, this may be required as, for example, when it means not exporting, sensitive or advanced technological equipment or parts to water are described as malicious regimes. At times, though, it seems that when certain other countries do it, that’s bad.
Is this a relic of colonial era attitudes or a genuine description of a problem? At times, the answer isn’t as clear-cut as we would like.
The world is changing. The “old order” is losing influence as new, regional and economic blocs arise and look to define their own identity, usually by challenging the interests of the existing order. The latter, of course, see this as unacceptable.
The sad truth is that things are changing. The question is how we adapt.
I’ve spent more than half my life delivering change in different world markets from the most developed to “emerging” economies. With a wealth of international experience in international financial services around the world running different operations and lending businesses, I started my own Consultancy to provide solutions for improving performance, productivity and risk management. I work with individuals, small businesses, charities, quoted companies and academic institutions across the world. An international speaker, trainer, author and fund-raiser, I can be contacted by email. My website provides a full picture of my portfolio of services.
Labels: Leadership, Regulation, Social
posted by William Martin @ 15:08
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