Prakash Kumar

Globally there seems to be a paradigm shift happening – in practically all walks of life which matters to the global community at large.

Economically, India and China along with its peers in the developing economy strata attracts much more interest and is moving at rapid pace towards a better investor bargaining power then an ageing and stagnated west.  Europe has its version of sovereign crisis faced by big economies like Greece and Spain while in US, internal politics of Washington DC over bailouts, health care overhaul along with discouraging the freedom of Wall Street are directly hitting at the basis of American culture – Capitalism. If this was not enough, BP has created an environmental and financial mess. Least of the financial mess which US has ignored for long, the gigantic, current account deficit (CAD) has reached a proportion that any other Country would have long declared bankruptcy. DOW trading at sub 10k levels is a combined indication of all these establishing that All iz not well for the mighty America.

Look at Global sporting event, FIFA world cup – it has established that France, England, Italy can be brought to its knees irrespective of their world class – Club football management. It is an early indication that success at club level and at national levels are two different propositions – and this alone justifies why a Baseball world championship restricted to USA and IPL restricted to India are not the way to go. Winning for the national flag is the ultimate objective – and who knows a new world re-order in sports can be written if one of the Countries like Uruguay, Ghana or Paraguay wins the Cup. History has shown us that it is possible.

Cricket, the gentleman game for long was under the clout of Western management led by England and duly supported by Australia. It is historic archived data now – India has shown for long now that the power it generates out of its revenue can easily make India run the ICC as its fiefdom. Today, India in Cricket has a lobby which is together with its Asian peers and supported by South Africa and have a defacto veto power over how the sports is run at global level. Recent example of John Howard, ex- Australian Prime Minister is paying the price of speaking against minnow’s countries at heights of his political career. Just like Umpires who gave ugly decisions against the Indian clan are cooling their heels or have taken premature retirement.

Foreign investment banking companies are finding it safer to invest in developing economies which are moving towards free trade while reclusive west is shutting doors to protect domestics job and thus hell bent on changing the visa regime. Didn’t we used to hear the contra stories pre 2000 era from one of the developing countries fearing the dawn of multinationals on its soil will dampen their lights – its just the opposite which is happening now.

Success of low cost sourcing and outsourcing and dumping of cheap goods for retail from China and entire clothing from underdeveloped economies today – Countries like US are far dependent on rest than the earlier version of dependence over west for Industrial needs.

Companies like Microsoft and Google are globally recruiting in rest while sending pink slips in west. Recession by fact is in West while India and China are still growing – under the carpet. Per capita income in developing countries have grown even during recessionary times and realty pricing which is often thought of an indicator to see household health is still health in rest while it is on life support in west.

We are at cusp of witnessing a paradigm shift – a change where things like permanent seat in UN council will need to be earned rather than dictated. Global norms regarding getting things flow through WTO and UN meetings by virtue of clout alone will be challenged and a one sided Nuclear Non-Proliferation Treaty will be defeated.

Author disagrees with the statement that all which is evolving now is correct but then who define what correct is – it never was before and it never will be in future. Just like when you are down you can only go up and on the contrary when you are at zenith you can only look below – a paradigm shift is happening as West fights to keep afloat under fierce competition from the also rans.