Allow me space in your esteemed newspaper to air my views on the subject as stated above.To start with, American global markets offer several advantages that contribute to their prominence in the international economy such as access to a large consumer base in which the U.S. has one of the largest and most diverse consumer markets, attracting businesses worldwide.
The next issue is the innovation and technology leadership in which American markets are known for fostering innovation, particularly in technology, healthcare and finance. Most world countries benefit in these areas of innovation in technology, healthcare and finance. Bilateral relations with the US have benefitted many countries, and walking away from these relationships during the time when America’s imposition of the tariffs to target BRICS, has some major bottlenecks to many countries. The whole thing is America getting abreast to cover for and making herself ready for BRICS. Many of the countries embracing BRICS will face economic eclipses and have to register their stand wisely. Otherwise, the flipside and eclipse will fall on them, and making them poorer and economically debilitated than ever. Sanctions will also be imposed directly or indirectly on all countries which fall within the BRICS agenda.
The third limelight is the economic stability in which the US dollar serves as a global reserve currency, providing stability and trust in international trade. The fourth scale in the limelight is the diverse investment opportunities in which the American markets offer a wide range of investment options, from stocks and bonds to real estate and venture capital.
The third scale of the limelight is the global influence in which the US companies often set industry standards, influencing global business practices and trends. These factors make American global markets a key player in the world economy. While American global markets offer numerous advantages, there is also flipsides of some certain sort which impact both the US economy and the international community.
The issues on the flipside are among the economic inequality in which the dominance of American companies can sometimes exacerbate wealth disparities between developed and developing countries. In this case, smaller markets may struggle to compete with large American corporations. The next flipside to assess is the market volatility in which US markets are highly integrated with global economies, meaning fluctuations (e.g., stock market crashes or economic recessions) can have widespread ripple- effects. The next issue on the flipside is the dependence on the US dollar that while the US dollar is a global reserve currency, its dominance can lead to vulnerabilities for other countries during inflation or interest rate hikes. In this case, we see the BRICS, which is inconsistent as it faces American challenges, resulting in the imposition of the tariffs that have now resulted in economic wars between the European, Asian, African and American markets. BRICS will not have any impact at all, Namibia will be highly affected because of its links with the South African Rand and SACCU and all those falling into the armpit of BRICS.
An economic punishment for South Africa is for Namibia, Russia, China and all those countries aligned to BRICS. The current war of economic eclipse should not be taken lightly by Namibia or any other country of the world. Muscling against or for BRICS has major and unforgivable stances and effects than ever in the world economy.
Only countries which will microscopically examine the consequences of this impending economic eclipse and flipsides will survive the tide of turbulence. The fourth flipside is the cultural homogenisation in which the spread of American products and media can overshadow local cultures and industries, leading to a loss of cultural diversity. The fifth flipside is the issue of trade imbalances in which America’s consumption-driven economy often results in significant trade deficits, which can lead to long-term economic challenges for her and other countries of the globe.
The fifth flipside is the environmental impact in which America’s large-scale industrial practices and consumer-driven markets can contribute to environmental degradation and carbon emissions which will put the global climate on the coals. These limelights and flipsides highlight the complexities of American global markets and their influence on worldwide economies, and that countries taking stances should critically assess all the roads and not only one road to be able to endure the strangles which come with that.
Countries, equally including America, should be hard at work to fight against BRICS and the American tariffs’ imposition in a smarter way than waging wars that will not bring any cushion for one person at all. Otherwise, many countries of the world will face impoverishments and societies highly affected. The war does not aim at punishing and making one having an upper hand above the other, but this war affects everyone else, as it impinges on the economies which bring life for all. There is no good news for America, Europe, Africa, Asia, Australia or any country at all. It is bad news for everyone else. It takes a wise person and a fool to sit and reason together.
* Vincent Ntema Sazita (PhD)