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International sanctions and economic immunity
16/9/2018 12:00 am [rtl]Dr.. Mustafa Kamel The economy consists of two aspects, one of which is aggregate demand and the other is the total supply. The total demand is the desire of individuals and institutions to acquire various goods and services, but on the condition that the total supply is made specifically, that is to make the goods and services desired by individuals and institutions visible, tangible and negotiable must be produced by the productive apparatus in that economy. The economic immunity is the ability of the local production system to satisfy the demands of individuals and institutions of goods and services over time, so be keen to provide raw materials for its productive activities locally as much as possible. Thus, the productive apparatus is flexible and otherwise inflexible, ie, the economic resilience lies in the degree of flexibility that characterizes the local productive apparatus. Where goods and services can not be produced locally, the policy maker must provide the alternative, often through importation. Thus, the overall supply is a simple form of production and import of goods and services. The more productive the production is, the greater the degree of economic immunity. The economy is strong, solid and cohesive and can absorb shocks, problems and obstacles. The lower the level of production, the lower the level of economic immunity, ie, the economy is weak, fragile and vulnerable to shocks and problems. Thus, the flexibility of the productive system becomes the most important factor in assessing the world's economies in terms of its ability to cope with the growing demand over time. Population growth, degree of development, publicity and publicity, degree of economic openness, etc. That is, it is not linked to the overall objective supply factors associated with the formation of institutions and the abundance of raw materials and the type of regional and international partnerships for that economy. When the international community decides to impose economic sanctions, economic sanctions or economic war on an economy, it carefully examines the degree of immunity enjoyed by that economy to deal with such sanctions, that is, the degree of flexibility of the productive apparatus, with the greatest possible paralysis and incapacity to achieve the desired effect . In other words, it does not impose economic sanctions on aggregate demand but on the overall supply through cutting off external supplies and narrowing the potential of the economy while betting on the total demand side (increasing by population increase) to complete the desired impact of economic destruction. Output has become crippled by sanctions. Imports should be stimulated to compensate for the shortfall in overall domestic supply, which creates the problem of depleting hard currency . Which would reduce economic immunity more quickly. If an economic blockade is imposed and the economy is isolated from the world, the total demand machine will boil to gradually stimulate the signs of inflationary pressures, which will negatively affect the local currency, economy and society after a period of time. The international community has now imposed sanctions on Iran and Turkey and in the past on Iraq, but the Iranian and Turkish production apparatus are flexible, while the Iraqi production apparatus was weak and relatively limited . At the same time, the Iranian production apparatus is self-sufficient, its resistance to shocks and international sanctions and its ability to satisfy the Iranian demand . The Turkish production system is very flexible and the Turkish economy enjoys a high quality network of regional and international relations. In spite of the initial impact of sanctions on these two economies, which is the rise in prices, but the great economic immunity allows the necessary adjustment to restore conditions to serve the economy and recovery again. Assuming that in the short term these sanctions are in line with the direction of adjustment, the long-term impact of those sanctions on these economies will fade. This is unlike what happened in Iraq, where the international sanctions and the siege of the Iraqi economy have been destroyed and left their impact to the present time, and the reason is the difference in the degree of economic immunity among the economies of the world.[/rtl] [rtl][You must be registered and logged in to see this link.][/rtl] |
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