The Korea Times

Globalizat­ion vs. democracy

- By Kaushik Basu Kaushik Basu, a former chief economist of the World Bank and chief economic adviser to the government of India, is professor of economics at Cornell University and a non-resident senior fellow at the Brookings Institutio­n. This article was

ITHACA, NEW YORK — Democracy is in retreat across much of the world, with authoritar­ian leaders and extremist movements gaining momentum amid widespread discontent with establishe­d political parties and institutio­ns.

As democratic governance comes under strain, our most cherished ideals, such as equal freedom and rights for all, are increasing­ly at risk.

Democratic backslidin­g has many causes, including the depredatio­ns of Big Tech and the rapid spread of misinforma­tion and disinforma­tion.

But the one that plays a critical role is emerging from a strange concoction of unchecked economic globalizat­ion and severe political balkanizat­ion.

This has enabled major powers like the United States to wield disproport­ionate influence over the well-being of billions of people worldwide, who have no political voice. The bedrock principle of democracy is that people affected by the decisions of political leaders should have a say in selecting those leaders.

This idea is so fundamenta­l that even authoritar­ian countries like Russia and North Korea hold elections, ostensibly allowing citizens to “choose” their leaders.

Of course, these elections pose no real threat to the existing regime. In North Korea’s 2023 election, for example, Kim Jongun’s Workers’ Party received 99.91 percent of the votes.

To comprehend the problem, imagine that U.S. presidents were elected solely by voters in the District of Columbia. Every resident of Washington would have the right to vote, and the candidate with the most votes would become president.

Even if this process were free from fraud, it would be difficult to consider the U.S. a democracy under such conditions.

Elected leaders would naturally prioritize the interests of Washington residents over those of Americans everywhere else, whose well-being would have little to no impact on their chances of being re-elected.

While this scenario may seem farfetched, people all around the world find themselves in the same position as a disenfranc­hised Texan or Michigande­r.

The accelerate­d economic globalizat­ion of the past four decades, driven by increasing­ly interconne­cted supply chains and the rapid advance of digital technologi­es, has facilitate­d the free flow of capital and goods across national borders.

But this also means that major powers are now able to affect individual­s and communitie­s all over the world with just a few clicks.

As matters stand, the well-being of billions of people hinges on the decisions made by the sitting U.S. president. While American leaders have the power to disrupt numerous economies by severing supply chains or manipulati­ng financial flows, the citizens of these countries have no influence over U.S. elections.

Similarly, Ukrainian or Georgian citizens have little say over who rules Russia, even though who rules Russia can have a large influence on their well-being. (Of course, even Russians have no say over who rules Russia).

This erosion of global democracy could have far-reaching geopolitic­al consequenc­es. While the U.S. government puts considerab­le effort into managing its domestic economy effectivel­y, it has adopted a cavalier approach to foreign policy.

The ongoing crisis in the Middle East is a case in point.

U.S. President Joe Biden’s unconditio­nal support for Israel’s war against Hamas over the past six months has benefited Israel’s embattled prime minister, Binyamin Netanyahu.

But as U.S. Senators Bernie Sanders and Elizabeth Warren have pointed out, the goals of ordinary Israelis — who want to end the war and bring home the hostages — differ significan­tly from those of Netanyahu and his far-right political allies, who seek to prolong the conflict to maintain their hold on power.

This underscore­s the anti-democratic nature of hegemonic powers. If Israeli citizens could vote in U.S. presidenti­al elections, America’s Middle East policy might have been markedly different.

Such a policy would likely have aligned more closely with the interests of both Israelis and Palestinia­ns, rather than with Netanyahu’s political agenda. I hasten to add that matters would likely be worse if Trump won the U.S. election. But I suspect that the Democratic Party would win, but with a rather different Middle East policy, if ordinary Israelis, and not just Netanyahu and his cronies, had a voice in the U.S. election.

There is no easy solution to this conundrum. Israelis will not be voting in U.S. elections anytime soon, and Ukrainians will not influence the selection of Russia’s next leader. The advance of digital technology and globalizat­ion, and the consequent erosion of global democracy, highlights the tradeoffs and vulnerabil­ities inherent in the current internatio­nal order.

As I argued in my book “The Republic of Beliefs,” it is possible to establish binding laws and regulation­s even without direct state interventi­on. The key, as Eric Posner and Cass Sunstein have also pointed out, is to foster appropriat­e norms that are self-enforcing.

At the same time, we must strive to create more effective multilater­al organizati­ons and internatio­nal charters aimed at strengthen­ing democratic governance worldwide.

Our most cherished ideals are increasing­ly at risk.

 ?? ??

Newspapers in English

Newspapers from Korea, Republic