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Is a Return to the Origins of Humanism still possible for European Civilization?

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What will future historians and cultural anthropologists have to say about Western Civilization as it turned a new millennium? If history has already ended, as Fukuyama asserts, they will of course have precious little to say. However, given the fact that, for better or for worse, we are not gods and are still living within time and space, “the end of history” remains a dubious proposition at best, and I dare say that it will remain such even a thousand years from now. Future historians will indeed attempt to define our era, as difficult as it may turn out to be.

The Neapolitan philosopher of history Giambattista Vico (1668-1744) would have had no hesitation in situating it within the third of his recurring cycles of history and civilizations (the cycles of gods, heroes, and men): that is to say, an era of extreme rationalism in tandem with relativism vis a vis the concept of Truth, what he dubs “the barbarism of the intellect.” But more specifically, we may ask: which will be the outstanding symptomatic phenomena that future historians will identify as characteristic of our age? I would venture two: 1) the speed of communication coupled with its banality, 2) thinking in the closet and herd thinking. Let us explore them briefly.

The first one is the more visible and pervasive. It is the kind of phenomenon that would have a great novelist begin his recounting of our times with “it was the best of times, it was the worst of times.” We now possess a near miraculous ability to communicate instantaneously across oceans and continents; to forward entire texts in seconds and have them published within days. This ability challenges even Hermes, the god of messages, who perhaps was not as fast as our e-mail messages are, hence the popularity of hermeneutics in modern literature and philosophy.

But there is a snake in this utopia come of age and it is this: there seems to be an inverse proportion within this phenomenon, the faster the means of communication, the more trivial and banal the communication seems to get, and the less authentic the dialogue. That applies to at least 90% of what passes for dialogue nowadays. To wit, the tweeting of a Donald Trump whose ambition is to become the “brilliant” new tweeting president of the US.

It has become increasingly difficult to discern the authentic from the bogus. The presidential campaign is a mere symptom of a more pervasive deplorable cancerous mind-set. Whether the exoterism of what is even published on-line today will compensate the former esoterism of wonderful insightful articles languishing unread in academic libraries, remains to be seen. But of course this is a symptom of a deeper malaise (that a Kierkegaard might even call “the sickness unto death”) which has to do with the inability of people to really dialogue and commune with each other (different from merely communicating at an increasingly faster pace) with each other, and which may point to the real underlying problem: the loss of meaning in life; what philosophers define as nihilism, what a Victor Frankel wrote about in his Man’s Quest for Meaning.

The second above mentioned phenomenon is less visible and therefore, like radiation, much more dangerous and lethal. It is in the very cultural air we breathe and goes by the name of extreme rationalism. It is an attempt to reduce the whole of experience to purely abstract utilitalian rational categories to the exclusion of imagination, the mystical, the transcendent, the emotive and the intuitive within reality; in short, to the near exclusion of the poetical. The poetical is reduced to frosting on the cake, to mere poetry to delight oneself or others at a wedding party. In ancient times this critique begins with Plato banishing the poets from his Republic. In modern times it begins philosophically with Descartes’ famous “Cogito ergo sum,” continues with Hegel’s dialectical historicism declaring that the synthesis of the thesis and the anti-thesis at the end of a process is always necessarily the best of all possible outcomes, and is underpinned by scientific positivism, the industrial revolution and the advent of Machiavellian real politik in the relations between nations wherein the end invariably justifies the means. Modern geopolitical science is an offshoot of this extreme Machiavellian realism.

It is in short a mindset that believes itself “enlightened”, and therefore doubts everything except one thing: that it itself may still need enlightenment. It begins with the so called “age of reason,” which believes that it can easily dispense with what is childish: the fables and myths spun by poets and visionaries, the whole of the humanistic world based on the poetic. It believes that adults endowed with reason must preoccupy themselves primarily with issues relating to the economic and the political and leave the rest to the Don Quixotes of this world, i.e., the losers, as distinguished from the winners with billions in the bank.

It is a mind-set unable to conceive that, as Vico believed, the poetical may well be complementary to the rational; that they may not be mutually exclusive; that both are indeed desirable and possible within a holistic view of Man. And so we get to the point that each individual that perceives him/herself thinking is convinced that he/she possesses the truth or can arrive at it individually beginning with the tabula rasa that is Descartes’ “cogito.” The slogan “everyone is entitled to his/her opinion” really means “to each his/her truth as he/she sees it.” Paradoxically, rather than the Cartesian “clear and distinct” ideas we have ended with the tower of Babel and herd thinking, the dystopian land of deplorable bigots devoid of consciousness and conscience roaming around as living dead; that is to say the land of the zombies headed by a tweeting leader admitting individual versions of the truth where at best the collective sum of all opinions is conceived as the truth, the collective, that is, headed by the head-zombie. One cannot but wonder on how we arrived at this sad state of affairs in the “enlightened” age of full-fledged rationality and scientific-technological inevitable progress.

At first glance, Vichian paradoxical thinking (the both/and) seems to defy the Aristotelian principle of non-contradiction (the either/or). The various rationalists and mysologists of our era often parade as classical thinkers on Olympus, above the fray of the existential vicissitudes and the common sense cleverness of the “unwashed masses.” They tend to present us with an isolated reason that gives no ground to the poetical and the pure intuitive promptitude of the mind as a mode of reasoning (as even a Plato did with his myths…despite his protestations against poetry). They seem to have no inkling whatsoever that such an operation is dangerous, sterile at best, because it can conveniently prove anything with its complete pseudo-impartiality, it can in fact choose any hypothesis to work from and then say “nothing personal,” I am presenting you with the reality of the situation and according to it certain necessities follow. One of those necessities may be that eleven million people may have to put into gas chambers or perhaps deported, or perhaps shut out with barbed wires or a tall wall.

That is why madmen’s arguments are so unassailable on the level of logic; it is their pride and joy. Hitler for one was proud of his talent for presenting logical iron-clad, unassailable arguments. It would appear that the more vigorously logic prosecutes its own internal pursuit, the greater is the danger of its turning away from direct experience and fact and losing sight of reality. Its arguments may be perfect, but it is a narrow and circular perfection; that of the snake eating its own tail. The rationalists who defend an absolute idealism are using the madman’s detailed reasoning; no contradictions or exceptions intrude into this perfect circle, because direct experience of different levels of reality is not taken as its own test. Logical consistency is more important to rationalists than the immediate reality of facts. They may even deny that if they bang their head hard enough against a wall it will bleed. At that point of failure of rationality, to disprove their point, all one can do is in fact bang their head against the wall.

The above begs the question: why cannot reason meet its own test? Vico teaches us that it is not because the intellect is a useless tool, far from it. In fact he comes to its defense when he insists that pure reason is irrational reason, i.e., the use of an instrument against its proper aim. The mind is constructive, as those medieval thinkers well understood when they called logic an art as well as a science. Syllogisms are pieces of architecture; the mind must take the materials for this manufacturing process from life, through man’s entire perceptive apparatus. When reason takes upon itself the task of entire discovery and construction, it makes discovery impossible. That is the point where mythology is confused for children’s fairy tales superseded by full-fledged reason, in fact, for this rationalistic mind-set, to call a story a myth is equivalent to calling it a lie. They would even expunge myths from Plato’s philosophy.

A sculptor who wants all the credit for his work is a bit vain if he is only jealous of his rivals or teachers (recognize the type?), or his predecessors, and will inevitably end up in the futility of re-inventing the wheel. But if he is jealous of the marble and refuses any help from it, no statue will ever receive his proud care. This applies to the mind as well. When pure reason asserts that it will accept nothing which it cannot justify on its own terms, it proceeds to destroy itself. If Vico had taught us nothing but this he would still have been a great European philosopher.

Descartes, on the other hand, wrote “Cogito ergo sum,” beginning his journey in the chamber of his own intellect, literally in a closet. Because he did not look out from that closet but at it, his journey never got under way; and the modern man is still sitting inside a narrow room cogitating on cogitation. If we are or exist only because we think, then logically we are what we think, and all things are what we think or do not think them. What a Trump declares in his tweets is the truth to be imposed with Machiavellian power on those who rebel against it. Indeed, the lunatic is God for whom thinking and doing are one and the same. The difference is that God is sane because he knows his nature and identity, the lunatic is insane. Rationalism’s attack on faith becomes also an attack on reason. The more astute rationalists (such as Leo Strauss, to mention one) will of course make a nice dichotomy between the two, even asserting that the reasoning in Plato’s Euthyphro is not a natural theology.

But there are different degree of exhaustion by which a rationalist will re-invent the wheel. Another is pure volition which usually will take Nietzschean-existential forms, but because this was merely an escape from Cartesian intellection, it remained a reflection of it, opposed only as things are when reversed in a mirror. Rationalism is the ally of all unreason. In his motion of mere escape from reason, Nietzsche had to deny all perceptive tests and fixed norms of facts; but this takes away the point of the will, the grip and exclusion, the creative and destructive choices. It is a Dionysian worship of will, simple ecstasy and expenditure in the void leading to nihilism. It gives the will no goal, it carries the will nowhere: pure self-destruction. Dionysius is after all the god of dissolution.

Vico teaches us that there is a higher dialectic: not that of the mind with mind but of mind with fact (the particular and the contingent) where men remember once again, via the poetical, that conclusions are made to follow but not to be. This is the fallacy of those who transfer the rules of the mind to external processes discerning necessity where there is none. Because the sun comes up every morning the mind assumes that it must do so. But repetition is not proof of necessity and it merely dulls our sense of wonder with which philosophy began. As St. Augustine aptly points out, the birth of any baby is more miraculous than the resurrection of Lazarus. To discern that the mind must first admit that it is not dealing with a fact that it did not invent but simply found. This is the wonder of being, of pure existence. When the mind so admits, then sanity returns.

In conclusion, Western Civilization as a whole needs to heed Vico who is the culmination of Humanism and return to its origins. Is it time to think paradoxically: of the new as the old and of the old as the new: novantiqua. It is time to go back to the future. Time is fast running out.

Professor Paparella has earned a Ph.D. in Italian Humanism, with a dissertation on the philosopher of history Giambattista Vico, from Yale University. He is a scholar interested in current relevant philosophical, political and cultural issues; the author of numerous essays and books on the EU cultural identity among which A New Europe in search of its Soul, and Europa: An Idea and a Journey. Presently he teaches philosophy and humanities at Barry University, Miami, Florida. He is a prolific writer and has written hundreds of essays for both traditional academic and on-line magazines among which Metanexus and Ovi. One of his current works in progress is a book dealing with the issue of cultural identity within the phenomenon of “the neo-immigrant” exhibited by an international global economy strong on positivism and utilitarianism and weak on humanism and ideals.

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American diplomacy’s comeback and Bulgaria’s institutional trench war

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Official White House Photo by Adam Schultz

Even though many mainstream media outlets have not noticed it, US diplomacy has staged a gran comeback in the Balkans. The Biden administration chose Bulgaria as the stage on which to reaffirm America’s hold on the region. Putting strong sanctions on Bulgarian oligarch, Washington is signalling not-so subtly to Russia that its reach goes far and wide. But there are sensible implication for the little South-Eastern European country’s future as well. Perhaps, the fight against systemic corruption is finally reaching its apogee. Could this be the end of misgovernance?

A corrupted country — Introduction

Many argue that corruption in Bulgaria and South-Eastern Europe is but a remnant of national Communist Parties’ half-century long rule. Thus, the EU’s threat to metaphorically swap the carrot for the ­­stick should have favoured a thorough clean-up. Instead, it merely yielded some short-term successes for anti-corruption campaigners, activist judges and specialised procurators. Yet, State capture and malpracticesremain endemic for one reason or another amongst post-socialist countries inside and outsidethe Union. More specifically, these efforts were vain and Bulgaria was still ill-equippedwhen it joined the Union on January 1, 2007. Hence, Brussels allowed in a deeply corrupted country where hidden interest behold even those occupying the highest echelons of power.

If not membership in the European Union, at least internal politics could have helped the country fend off endemic maladministration. Yet, the status quo has preserved itself intact despite calls and promises to root out corruption having been getting louder. In a sense, corruption’s pervasiveness is a feature and not a bug embedded in Bulgaria’s imperfect liberal free-market democracy. These conservative – and, in a sense, perverting – forces have found their embodiment in Prime Minister Boyko Borisov and his associates. Therefore, governmental agencies, political parties, courts and the entire extant structure of power contribute to prevent any change.

The wind of change: Popular unrest and institutional trench war

That notwithstanding, the proverbial ‘wind of change’ may have begun to lash across Bulgaria in summer 2020. After having taken to the streets against the party of power’s abuses and failures, voters abandoned Borisov in the April 2021 elections. Conversely, new parties and loose coalitions of civil-society organisations, formed shortly before the contest, won a relative majority of preferences. And, as many analysts noticed, these newcomers do not share much besides the desire to “dismantle the Borisov system”.

Nonetheless, these new actors failed to form a governing coalition due to the heterogeneity and inherent negativity of their agendas. Thus, President Rumen Radev scheduled new elections on July 11 and appointed a caretaker government.

Political reconfigurations

Indeed, there is an institutional custom prescribing such cabinets to limit their activities to managing current affairs. Nonetheless, these technocrats – many of whom supported Radev in his feud with Borisov – started an extensive review of past governments. In the process, the cabinet reshuffledbureaucracies, suspended Sofia airport’s concession and halted other public tenders for suspected irregularities. More importantly, the ministry of interior has confirmed prior suspects that Borisov-appointed officers may have illegally wiretapped opposition politicians.

In a word, President Radev’s ministers are endeavouring to tear apart the ‘Borisov system’ before the next elections. However, simply ousting most – or even all – of the previous government’s men in key positions within State apparatuses is uncomplicated. Especially when pushing such an agenda is the President,with the palpable backing of an absolute majority of the population. But the Borisov system has also an economic component. In fact, the party of power has set up a tentacular network of supportive oligarchs funding and favourable media coverage. Putting them out of the game is equally, if not more, important than firing bureaucrats — but also much more difficult.

Chasing the oligarchs

In other words, undoing the Borisov system’s appointments and putting trustworthy officers in those posts in just the first step. But real change requires leaving the wealthy individuals and organisations benefitting from the status quo clawless and teethless. Such a task entails deep economic transformations that would surely evoke immense opposition from powerful pressure groups. Evidently, there is not enough time before Bulgarians vote again and their representatives pick up a new executive. But the caretaker government is powerless in front of Bulgaria ‘s condemnation to persistent corruption no matter what.

On the contrary, the government has endeavoured to chase and derail some of these Borisov-connected oligarch. For instance, the finance minister appointed an Audit Committee with the task of reviewing the Bulgarian Development Bank’s (BBR) activities. As a result, the public discovered that oligarchs had steered the BBR away from its mandate of supporting small companies. In fact, eight large private companies have received more than half of the BRR’s total credits or ca. €473 million. On average, each of them has borrowed almost €60mln — and “this is not a small and medium business. In addition, these companies borrowed against a 2% rate instead of the average 5–7%. Following this leak, the Minister of Finance fired the entire board of the BBR. He also instructed the Bulgarian National Bank (BNB) to appoint a new directorate.

The US strike back

Quite surprisingly, the United States has just given Radev and his government a valuable assist. On June 2, the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned several “individuals for their extensive roles in corruption”. In first instance, the sanctions target Vasil Bozhkov, a Bulgarian businessman currently hiding in Dubaito escape an arrest warrant for accusation of bribery; Delyan Peevski, prominent figure of and former member of the Parliament for the predominantly Turk Dvizhenie za Prava i Svobodi as well as the owner/controller four of the companies involved in the BBR’s scandal;  and Ilko Zhelyazkov, former appointee to the National Bureau for Control on Special Intelligence-Gathering Devices. Secondarily, the US have sanctioned “their networks encompassing 64 entities” with which no transaction in dollars is possible.

The US chose to hit Bulgaria, a NATO ally, with “the single largest action targeting corruption to date”. On the one hand, this falls within the boundaries of the current administration’s effort to restore America’s moral stewardship. More to the point, one may interpret the sanctions as a not-so/veiled message to Russia — which heavily influences Bulgarian politics. Still, those who had been looking at US-Bulgaria bilateral relations should have expected a similar decision. After all, the sanctions came after US ambassador Herro Mustafa’s reiterated criticisms of pervasive corruption in the country. Mustafa has also refused symbolically to meet Chief Public Prosecutor Ivan Geshev, who embodies systemic corruption in Bulgaria.

Consequently, the game has scaled up to a whole new quality now. The BNB barred all Bulgarian banks to entertain commercial relationships with people under US sanctions. Moreover, the BNB had already froze some of Peevvski’s, Bozhkov’s and Zhelyazkov’s deposits, means of payment, and assets earlier. However, after the OFAC’s decision, the block extended to their entire network of affiliates and related entities.

Conclusion: The US are reclaiming the Balkans, and it may not be bad for Bulgarians

Officially, corruption’s malign influence on democracy provides the US with a moral justification to sanction any corrupt individua. Namely, the Treasury argues that it

undermines the values that form an essential foundation of stable, secure, and functioning societies; ha[s] devastating impacts on individuals; weaken[s] democratic institutions; degrade[s] the rule of law; perpetuate[s] violent conflicts; facilitate[s] the activities of dangerous persons; and undermine economic markets.  

Surely, the soon-to-come meeting with Russia’s President Vladimir Putin also played a role in this decision.

Yet, the sanctions’ timing suggests that there might be other forces at play. Rather, it seems that Washington decided to pick a side in the ongoing institutional trench war between Presidency and Government.

From Bulgaria’s perspective, even though most American media have not noticed it, the impression is quite clear. To quote President Biden: “America is back, diplomacy is back”. Specifically, this resurgence has a special meaning in the Balkans, a region of immense relevance for Europe’s energy security. Concretely, the US is taking the lead in the West’s effort to keep China, Russia, and Turkey out.

True, whether this external support will suffice for Bulgaria to finally eradicate corruption is debatable. Nevertheless, the US’s return may spur a positive competition dynamic in which Washington and Brussels compete for limited normative power. If this was the case, increase international pressures on Bulgaria to limit corruption may reach a breaking point relatively soon. At which point, either a fundamental shift will take place; or Bulgarian elites will entrench further

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Indo-European rapprochement and the competing geopolitics of infrastructure

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Current dynamics suggest that the main focus of geopolitics in the coming years will shift towards the Indo-Pacific region. All eyes are on China and its regional initiatives aimed at establishing global dominance. China’s muscle-flexing behavior in the region has taken the form of direct clashes with India along the Line of Actual Control, where India lost at least 20 soldiers last June; interference in Hong Kong’s affairs; an increased presence in the South China Sea; and economic malevolence towards Australia. With this evolving geopolitical complexity, if the EU seeks to keep and increase its global ‘actorness’, it needs to go beyond the initiatives of France and Germany, and to shape its own agenda. At the same time, India is also paying attention to the fact that in today’s fragmented and multipolar world, the power of any aspiring global actor depends on its diversified relationships. In this context, the EU is a useful partner that India can rely on.

Indo-European rapprochement, which attempts to challenge Chinese global expansion, seeks also to enhance multilateral international institutions and to support a rules-based order. Given the fact that India will hold a seat on the UN Security Council in 2021-22 and the G20 presidency in 2022, both parties see an opportunity to move forward on a shared vision of multilateralism. As a normative power, the EU is trying to join forces with New Delhi to promote the rules-based system. Therefore, in order to prevent an ‘all-roads-lead-to-Beijing’ situation and to challenge growing Chinese hegemony, the EU and India need each other.

With this in mind, the EU and India have finally moved towards taking their co-operation to a higher level. Overcoming difficulties in negotiations, which have been suspended since 2013 because of trade-related thorny topics like India’s agricultural protectionism, shows that there is now a different mood in the air.

The Indian prime minister, Narendra Modi, had been scheduled to travel to Portugal for  a summit with EU leaders, but the visit cancelled because of the Covid-19 pandemic. As a result, the European Commission and Portugal – in its presidency of the European Council – offered India to hold the summit in a virtual format on 8 May 2021. The talks between these two economic giants were productive and resulted in the Connectivity Partnership, uniting efforts and attention on energy, digital and transportation sectors, offering new opportunities for investors from both sides. Moreover, this new initiative seeks to build joint infrastructure projects around the world mainly investing in third countries. Although both sides have clarified that the new global partnership isn’t designed to compete with China’s Belt and Road Initiative (BRI), the joint initiative to build effective projects across Europe, Asia and Africa, will undoubtedly counter Beijing’s agenda.  

The EU and its allies have a common interest in presenting an alternative to the Belt and Road Initiative, which will contain Chinese investment efforts to dominate various regions. Even though the EU is looking to build up its economic ties with China and signed the EU-China Comprehensive Agreement on Investments (CAI) last December, European sanctions imposed on Beijing in response to discrimination against Uighurs and other human rights violations have complicated relations. Moreover, US President Joe Biden has been pushing the EU to take a tougher stance against China and its worldwide initiatives.

This new Indo-European co-operation project, from the point of view of its initiators, will not impose a heavy debt burden on its partners as the Chinese projects do. However, whilst the EU says that both the public and the private sectors will be involved, it’s not clear where the funds will come from for these projects. The US and the EU have consistently been against the Chinese model of providing infrastructure support for developing nations, by which Beijing offers assistance via expensive projects that the host country ends up not being able to afford. India, Australia, the EU, the US and Japan have already started their own initiatives to counterbalance China’s. This includes ‘The Three Seas Initiative’ in the Central and Eastern European region, aimed at reducing its dependence on Chinese investments and Russian gas. Other successful examples are Japan’s ‘Expanded Partnership for Quality Infrastructure’ and its ‘Free and Open Indo-Pacific Strategy’. One of the joint examples of Indo-Japanese co-operation is the development of infrastructure projects in Sri Lanka, Myanmar and Bangladesh. The partners had been scheduled to build Colombo’s East Container Terminal but the Sri Lankans suddenly pulled out just before signing last year. Another competing regional strategy is the Asia-Africa Growth Corridor (AAGC), initiated by India, Japan and a few African countries in 2017. This Indo-Japanese collaboration aims to develop infrastructure in Africa, enhanced by digital connectivity, which would make the Indo-Pacific Region free and open. The AAGC gives priority to development projects in health and pharmaceuticals, agriculture, and disaster management. 

Undoubtably, this evolving infrastructure-building competition may solve the problems of many underdeveloped or developing countries if their leaderships act wisely. The newly adopted Indo-European Connectivity Partnership promises new prospects for Eastern Europe and especially for the fragile democracies of Armenia and Georgia.

The statement of the Indian ambassador to Tehran in March of this year, to connect Eastern and Northern Europe via Armenia and Georgia, paves the way for necessary dialogue on this matter. Being sandwiched between Russia and Turkey and at the same time being ideally located between Europe and India, Armenia and Georgia are well-placed to take advantage of the possible opportunities of the Indo-European Partnership. The involvement of Tbilisi and Yerevan in this project can enhance the economic attractiveness of these countries, which will increase their economic security and will make this region less vulnerable vis-à-vis Russo-Turkish interventions. 

The EU and India need to decide if they want to be decision-makers or decision-takers. Strong co-operation would help both become global agenda shapers. In case these two actors fail to find a common roadmap for promoting rules-based architecture and to become competitive infrastructure providers, it would be to the benefit of the US and China, which would impose their priorities on others, including the EU and India.

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The Leaders of the Western World Meet

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The annual meeting of the G7 comprising the largest western economies plus Japan is being hosted this year by the United Kingdom.  Boris Johnson, the UK Prime Minister has also invited Australia, South Korea, South Africa and India.  There has been talk of including Russia again but Britain threatened a veto.  Russia, which had been a member from 1997, was suspended in 2014 following the Crimea annexation.  

Cornwall in the extreme southwest of England has a rugged beauty enjoyed by tourists, and is a contrast to the green undulating softness of its neighbor Devon.  St. Ives is on Cornwall’s sheltered northern coast and it is the venue for the G7 meeting (August 11-13) this year.  It offers beautiful beaches and ice-cold seas.

France, Germany. Italy, UK, US, Japan and Canada.  What do the rich talk about?  Items on the agenda this year including pandemics (fear thereof) and in particular zoonotic diseases where infection spreads from non-human animals to humans.  Johnson has proposed a network of research labs to deal with the problem.  As a worldwide network it will include the design of a global early-warning system and will also establish protocols to deal with future health emergencies.

The important topic of climate change is of particular interest to Boris Johnson because Britain is hosting COP26  in Glasgow later this year in November.  Coal, one of the worst pollutants, has to be phased out and poorer countries will need help to step up and tackle not just the use of cheap coal but climate change and pollution in general.  The G7 countries’ GDP taken together comprises about half of total world output, and climate change has the potential of becoming an existential problem for all on earth.  And help from them to poorer countries is essential for these to be able to increase climate action efforts.

The G7 members are also concerned about large multinationals taking advantage of differing tax laws in the member countries.  Thus the proposal for a uniform 15 percent minimum tax.  There is some dispute as to whether the rate is too low.

America is back according to Joe Biden signalling a shift away from Donald Trump’s unilateralism.  But America is also not the sole driver of the world economy:  China is a real competitor and the European Union in toto is larger.  In a multilateral world, Trump charging ahead on his own made the US risible.  He also got nowhere as the world’s powers one by one distanced themselves.

Secretary of the Treasury Janet Yellen is also endorsing close coordination in economic policies plus continued support as the world struggles to recover after the corona epidemic.  India for example, has over 27 million confirmed cases, the largest number in Asia.  A dying first wave shattered hopes when a second much larger one hit — its devastation worsened by a shortage of hospital beds, oxygen cylinders and other medicines in the severely hit regions.  On April 30, 2021, India became the first country to report over 400,000 new cases in a single 24 hour period.

It is an interdependent world where atavistic self-interest is no longer a solution to its problems.

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