A Resolve of Global Transformation

The focus of our analysis is on fundamental changes in culture, economy, society, and the ecosystems that lead to development for mankind. Given existing and foreseeable global problems, our magazine outlines the challenges with which the people of today and tomorrow will be confronted: democracy issues in Myanmar and Canada, innovative breakthroughs in nanotechnology and water treatment, economic issues of the U.S. housing crisis, and viable strategies to control deforestation.

The world is experiencing a serious financial crisis that morphed into a recession, but the recession, far from being a repeat of the Great Depression, is not even the worst recession the world has seen since World War II. In the late 1970s and early 1980s, we saw recession-based, soaring energy prices. This time it is with housing prices.

Recessions are cyclic events. They happen every few years and help regulate the economic system. Considering the U.S housing crisis, it is important to remember the market bubble was made possible in part by high savings rates in China.

The global economy is interlinked. Private financiers essentially borrowed savings from Chinese residents and then loaned the funds to Americans wanting to purchase homes. Other financial institutions then bundled the mortgages and sold them to people and organizations scattered across the globe. In this era of globalization, complex, economic interdependence profoundly influences our lives.

To top it all, in the field of nuclear security, Iran edges closer to acquiring a nuclear bomb and its missiles extend an ever darker diplomatic shadow over the Middle East and Europe. It could diminish American influence in the Gulf and Middle East by increasing the pace and scope of terrorist activities and dramatically raising the price of oil. There is also concern about the safety of nuclear material in countries like the former Soviet states, Pakistan, North Korea, and to some extent India.

We may have to traverse a rough road ahead and ought to prepare with caution.

Probir Kumar Sarkar

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