And here we go, right into the 5th year of this never-ending economic crisis. Now that 2012 has spent its first month, I may take a break, pause for a while and try to set my sight back to the Lehman Brothers’ fall and the famous phrase that Sarkozy mentioned after that happened, addressed to the urgent need of re-inventing capitalism as we knew it.
By the time, it sounded pretty good, it made common sense, even it was considered necessary (and it still is), though now… well, you know… that was all.
Once that re-foundation has been discarded as a solution, politicians worldwide have shown an incredible lack of strategic view and most of all, a lack of leadership.
To worsen that all, the possible exit of this depression is far from being green (as it was considered in the beginning of it all). Solution won´t have nothing to do with the use of the so-called green energies, another issue that has been left apart in the dark.
Nowadays, pushed by the rating agencies and German plus French governments the solutions has been drastically simplified and it has been translated into just a simple one, being it reducing the so-called Welfare State in the Western countries, where meager benefits took years and fight to be achieved. And as it seems clear now, benefit cuts that are having an incredible impact on poorest social classes and consumption.
And where does it all lead us? Well, current cuts in social benefits will end when a real convergence between the current lack of any welfare state in Asian countries and the one existing in Western ones meet. And which point will it be? The meeting point must be the one at which requirements and claims of Chinese workers may get to (I hope as a citizen of a Western Country they ask and fight for a good agreement) as to level up costs of production in both regions.
It is clearly known that non-existence of workers-rights in Asia economies make that region be productive and competitive, and thus make their exports a boost of the economy.
So, I guess that global unrest will keep on setting up our agendas on 2012.