Barack Obama was elected as President of America because people wanted a fundamental change. The American policies, particularly the policies of Bush, have miserably failed and have led to a global economic crisis and instability in the world. America has had its worst recession since the great depression of the thirties. This is not just an economic crisis but it is a much more serious crisis which can be called a crisis of the consumerist culture and the world order based upon the traditional capitalist system and its highest stage “Globalization.”
The present globalization is economic-only globalization and completely lacks any ethical aspect. America, the undeclared leader of the present globalization, has not pursued policies which are beneficial for the majority of the world population as well as for the majority of the American people. We can call this a globalization without a global perspective.
If Obama really wants America and the rest of the world to come out of the present crisis, then he has to fundamentally change the American unilateralist policies. The ground reality of the world is that it is no longer a unipolar world led by America and the western domination can not last. Asia, with China in the leading place, has now become the leading region of the world. The world has already become a multi polar world. No country or region can now dominate the entire world. Relations between the east and the west should now be based upon equality and mutual respect.
The global institutions such as the United Nations, World Bank and the international monetary fund should all be revised to reflect the realities of the world. At present all of these institutions are dominated by the west.
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