Globalisation of Capitalist Crises
The post pandemic economic recovery looks uncertain and the economic growth projections look gloomy in every stretch of policy paradigm within capitalist imaginations. The strong and existing multilateral cooperation within the Westphalian international system is falling apart and facing its existential threats due to its entrenched Eurocentric bias, democratic deficits and institutional dominance by the erstwhile colonial powers. The world is moving into a long-term crisis within capitalism. The capitalist system has failed to offer any viable alternatives to recover from the crises. It is rather deepening the globalisation of crises and miseries among the masses. The predicaments of hunger, homelessness and unemployment are growing. The idea of accessibility, availability and distribution of essential goods and services are becoming difficult. The markets are shrinking and sinking. Both the producers and consumers are facing the crises in their everyday lives.