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Cold War, Capitalism, Corporate Domination

Two parallel socioeconomic systems have been prevailing during the Cold War era between 12 March 1947 and 26 December 1991, the liberal democratic capitalism bloc led by the US and the communist socialistic bloc led by the erstwhile Union of Socialistic Soviet Republic (USSR) each trying to dominate through proxy wars, sabotage and intrigue. They used Afghanistan and Vietnam and so many other small countries as their laboratories to flex their muscles and test and sell their arsenal. The collapse and disintegration of the USSR proved that their communist socioeconomic model is not ideal and no more practicable.   

With the exit of the USSR, the US assumed a more aggressive and belligerent role. Its action in Iraq was a textbook case study of its obnoxious attitude and belligerence. It has to exit  Afghanistan with a face-saving strategy on May 1, 2021, ultimately, thereby proving that its capitalistic model is not ideal and practicable either. It did not learn from its complete humiliating defeat and face-saving exit from Vietnam in 1973. 

As such, capitalism does not exist anywhere in the world at the moment. Frequent corporate bailouts do not fit in the free market system of things and stand testimony to the failure of capitalism. In most of the so-called democratic capitalist countries, many social security schemes are the antithesis of the capitalist model.

Shareholder centric stock market with the provision of shell corporation structure, provisions of corporations also become shareholders too and tax havens have provided a perfect platform for leveraging the unscrupulous and unethical multinational corporations to piggyback crony capitalists, accumulate wealth. As a result, the corporations have started dictating terms to the governments and thereby diluting the concept of sovereign nations states.

Globalisation with the advent of WTO, Free Trade Agreement and Special Economic Zones facilitated by the advancements in technology, telecommunications and the Internet has accelerated the dilution of the sovereign state concept with free flow of goods, services, capital and human resources across the world.. Because of the mere advancements in technologies, the current monetary system of the treasury, banks and flat currencies will soon be replaced by Cryptocurrency and all the traditional business processes of trade and commerce will move to Blockchain technology that is also the platform for the first-ever cryptocurrency Bitcoin that started in 2009.

The more serious and insidious changes taking place at a fast pace are that the corporations are virtually taking over the reins from governments; the heads of states are nothing but mere pawns in the corporate chess game. 

Lastly, the frightening outcome that appears to take shape is that the Chinese State, which is neither socialistic or capitalist but in between, an ideal cocktail mix practically speaking, itself is assuming the role of a corporation, and the mightiest one and heavily invested in too many countries. Its belt and road initiative is just one aspect that is visible to the eye while most of its behind the scene activities are yet to be noticed, like bribing politicians of all hues in all the countries and getting people with a soft heart for Chinese interests to get into parliaments across the world. 

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