‘New international order of big powers, tech and pharma setups must be avoided’

 

A new post-pandemic international order that is going to be controlled by big powers, and big tech and pharma setups must be avoided, says Foreign Minister Saifuddin Abdullah.

He said while the Covid-19 pandemic laid bare some of the fundamental flaws and fractures in today’s globalised society, it has also resulted in new norms of inequalities.

“WHO (World Health Organization) now become the new UN Security Council. Vaccine-producing countries become the new superpowers. Big pharmas become the new Wall Street,” he said when delivering his speech “Addressing Inequality” at the 14th Bali Democracy Forum, held virtually on Thursday.

A highly concentrated economy that enriches the few to the disadvantage of smaller businesses has emerged and, in the meantime, some countries like Malaysia were still struggling to balance life and livelihood, in finding ways to economic recovery.

“We also face a lot of problems when it comes to international financial, trade and economic architecture. We must avoid at all costs a democracy that is ‘off’ the people, ‘buy’ the people and ‘force’ the people,” he said.

Instead, he said countries need to take holistic and integrated multi-disciplinary approaches that focused on the people in the process of recovery and development of the nation.

He added that for a nation to prosper, all spectrums of the society, including the state, businesses and civil society have to be included in the discussions and consultations as well as the decision making of the developments in the country.

In a nutshell, he said: “What is needed is not another new way of inequalities. What is really required is a humane equilibrium and a responsible democracy.”

- Bernama