Rebooting the World

Context: Post Covid world order and global transformation process should be based on unswerving commitment to egalitarianism, secularism and democratic principles to overcome the challenges posed by pandemic.

Challenge posed by COVID-19

• Incapacity of International institutions: World Health Organisation (WHO), and UNSC
• Collapsing global and national economies and rising protectionism.
• Dependency on the physician, dietician, statistician, economist and healer.
• Absence of expertise to quantify the large-scale losses caused by global lockdown.

Post -COVID World Order must be based on the following Values and Principles

• Precedence of Internationalism over Protectionism: Ensuring that nations and leaders do not act wilfully or ill-treat global institutions.
• Repair and reform of obsolete global institutions: in terms of healthcare, education, environment, terms of trade, disarmament including nuclear disarmament, the global financial system and multi-polarity.
• Imparting autonomy to central banks: expanding role beyond regulatory and monetary functions. 

• They may emerge as conscience-keepers to save the governments of non-experts.

• Fostering regionalism: by reviving regional associations like SAARC, South Asian Free Trade Area (SAFTA) and Bangladesh, Bhutan, India, and Nepal (BBIN) initiative.
• Rebooting Late-stage capitalism: inclusive, progressive and pro-people system focusing on public healthcare, education, R&D, livelihood creation, clean environment.

Conclusion: Nations imbibing the democratic values nationally will naturally be better placed to lead the world in creating the new post covid world order.