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Global variables and their impact on the Iraqi economy
Economical 01/02/2024
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etwally:
In the midst of the events that the world witnessed during the past five years, including 2024, which complement the challenges the world faces, intentions are moving towards a multipolar economy after the events struck the last nail in the coffin of obscene globalization, beginning a new era.
This is what the opinions of economists agreed upon, based on indicators of the events of the five years that ravaged the global economy (Corona, the Russia-Ukraine war, and most recently the Israel-Gaza war), which prompted them, and I mean countries, to rise up against the unilateral hegemony controlling the global economy, and the reasons are known to far and wide. The most influential of which is the strict American policy towards the world.
One of the indicators of the escape forward from globalization is the coalition of the five BRICS countries in an attempt to get rid of the dollar’s control over the global economy.
The events that took place foreshadowed expectations of a global global war on the verge of occurring had it not been for the wisdom of some countries, such as China, for example, which was able to defuse it by postponing its invasion of Taiwan before it happened. It has become certain for everyone that there will be no globalization in the future, but that everyone will sing his praises (protectionism).
America has realized this fact and is trying to recover what remains of its power and maintain its role in leading the global economy. It began to maneuver at times and to be lenient at other times, indicating - with satisfaction and conviction - that the future is multipolar in managing the global economy and there is no room for monopolization of power that has become useless with... Countries have reached the point of certainty that the solution lies in sharing influence, so they began to work in this manner.
Between these two scenes, some emerging countries broke out of the net of economic dependency and entered the challenge by adopting policies and measures that, to say the least, are the beginnings of a real confrontation with the status quo and an attempt to evade dependency.
Perhaps the closest The example of Saudi Arabia, which took balanced steps in response to the events, taking advantage of its own capabilities to maneuver and the independence of its decision in dealing with countries according to their interests. This is a simple example that I will cite to reach what concerns us in Iraq. How much have we been able to meet this challenge? In other words, how capable is Iraq of the challenge?
We acknowledge that Iraq's circumstances may prevent this challenge from being met, so it requires the liberalization and independence of the economy, but how?
Starting with the slogan of protectionism raised by countries, it is summed up by securing food and medicine, possessing technology, and developing education. These matters require a national will and a unified decision. Is this will available in Iraq?
It is noted that the Prime Minister is trying hard to experience this important trinity of liberalizing the economy and influence and achieving independence for the country’s economic decision. On the public policy side, he has maneuvered well in distributing his interests among all countries and keeping them at the same distance, represented by American, Chinese, Russian, Arab and regional investments, and this is a successful and sound beginning. But in conclusion, Iraq must liberate its commercial market from monoactivity (reliance on imports) only and try to revitalize and strengthen the position of the local industrial and agricultural production sectors with the aim of providing food and medicine.
We hope that these trends will receive support that expresses the national will with the importance and inevitability of prioritizing our country’s interests and strengthening its economy.
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