Downward Trends in World Economy Alarming
Many economic experts point finger towards irrational economic policy of the world's richest country, the United States. Last week, the leaders of the world's biggest economies, the U.S. and Japan met in Washington to determine fresh strategy for curing shaky economy,' reported by the BBC television network on Saturday evening.
President George W. Bush and Japanese Prime Minister Yoshiro Mori were disappointed with the wound inflicted on their countries' domestic stock markets.
The economic experts believe that for the time being it is simply a warning and if necessary measures are not adopted by the U.S. and Japan, then all have to face a thorny path in their ways of economic developments.
"The most important measure that must be adopted ," commented an economist, "is that the U.S. must change its policy of uni-polar system which is being followed by the pro-Zionist administrations in Washington since 1991 when the Eastern Superpower the Soviet Union disappeared from the world map."
The U.S. officials should know that in this information age , the U.S. hidden agenda about uni-polar system is known by all the countries in the world and those states that follow an independent policy are busy in taking certain move that will disappoint the White House occupants.'
The developing countries have suffered heavily in the years of 1998 and 1999 due to economic recession and they are not ready for history to repeat itself.
OPEC can play a very important role for keeping the economy of the Third World healthy.
"It is really very fortunate that the Organization of Petroleum Exporting Countries (OPEC) had taken the most appropriate action for keeping the world economy in a good shape," the analyst said.
He was referring to OPEC's meeting in Vienna in the second week of this month when it decided to cut its output by 1,000,000 barrels a day.
"This OPEC cut in the output will help the producer developing countries avoid any mishaps that could possibly affect their economic development plans," he said.
"Our past experience confirms that the U.S. would not change its hegemonic policy and the Third World countries must keep all economic option open to counter plots against them," the analyst concluded.