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The world-wide chaos caused by the outbreak of the coronavirus has underlined a lesson that was only partly learned in the Global Financial Crisis of 2008. In a more interconnected world the understanding of system-wide risk needs to be much better than it is.
For the last two years I have been an advocate for the refugee community in Jakarta. I have seen how women’s education is the first and most important need for women to secure their rights. Each week, I meet many refugee women who can’t speak up for their rights.
I have been bemused to read the result of a recent poll taken in Britain. It suggests that 26 per cent of people feel ‘uncomfortable’ when hearing foreign languages spoken. Me, I feel envious, simply wishing that I was more of a linguist.
We live in an era of hyper-transactionalism, whereby most of what we do is subject to the exchange of money and market pricing. Whereas in the past much of humanity was bound to a political system, now most of us are bound to a globalised monetary system.
That’s it. People in mid-life fear death for many reasons, but disappointment must be one of them, for there are always so many things to do, so much in the world to see and to experience, a whole host of people to get to know, various ambitions to be realised, a great number of projects to be finished.
I’d never heard of McKenzie Funk until I came across his marvellous review essay, 'Smoked Out'. I eagerly read on beyond the genial opening paragraphs and almost immediately, I found myself on familiar, if deadly, ground.
A shift is afoot in the west's financial markets that represents the most important economic change since the emergence of the new financial instruments in the 1990s that ultimately led to the global financial crisis. It is likely to result in a new way of thinking about money, which will change the substructure of developed economies.
It is ironic for those of us who have long wished for a closer and more respectful relationship between India and Australia to be arguing now for caution. But perhaps the time has come for a relationship of political solidarity between the people of India and the people of Australia, rather than the economic expediency that seems to be on offer.
Politicians love to remind minorities to integrate. Minority kids by and large resent these calls, because they are desperate to integrate. South Asian kids like me and journalist Sarfraz Manzoor were among those wishing to be Australian or British. Our idols were Bruce Springsteen and Jim Kerr, not Abu Bakr Baghdadi or Osama bin Ladin.
Two Aboriginal men are currently being held in immigration detention under threat of deportation because they are not Australian citizens. The case raises far-reaching implications concerning the status of the relationship between Aboriginal and Torres Strait Islander Australians and the state.
At the next global financial crisis, when questions about what we want our monetary system to do for us become a matter of survival, why not devise a transactional system that is not just geared towards the consumption of goods and services, but involves monetary exchanges for social goods, such as sustainable production, or civic benefit?
Due to this stance, immigration is arguably not being leveraged to actually benefit the country, including its flailing economy. This is despite a government report released last year stating that immigrants increase GDP and helped avoid the 2008 financial crisis.
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