Globalisation at threat?
The success of globalisation is doubtful in its existing form, because its guiding institutions, the IMF and WTO, continue to be ignored while countries continue to seek escape from one or the clause that binds their action in the interest of globalisation. The people of Germany continue to oppose assistance to Eurozone countries in trouble. Mighty countries tried unconventional methods to revive their economies but little has been achieved, leading to imbalances across the globe. The IMF could not object to steep devaluation in exchange rates in order to stem export concentration. The countries that have accumulated foreign exchange reserve with high productivity and conservative wages during boom, viz. China, have unleashed exports to the disadvantage of competitors. Unless each country maintains a fair balance of payment, agrees to climate change action and somehow brings parity in the productivity, the imbalances would continue to scratch the surface of globalisation. The US shall have to take central position in the matter of sustainable development as without it, all discussions would turn to be hollow.
— RK Arya, via e-mail
Meat of the matter
Apropos of Air India’s decision to stop serving non-vegetarian food in the economy class, the airline is better advised to stop flying government employees and politicians for dirt-cheap prices if it is to cut its losses. Depriving passengers of a choice hardly makes sense.
— Sumona Pal, Kolkata