7 November 2024 12:52 am Views - 348
On the fourteenth of November, Lankans will go to the polls. Walking the streets of Colombo or the suburban cities, one hardly sees signs of the upcoming election.
Perhaps it’s a sign of voter/political party fatigue, having just come out of a presidential election where some of the candidates spent so much cash, that their supporters seem unwilling to bankroll them any longer.
According to the Election Commission, Sajith Premadasa’s expenses were the highest during the 2024 Presidential Election; his expenses exceeded Rs. 1.12 billion. The second-highest spender at the election was independent candidate Ranil Wickremesinghe, who spent around Rs. 990,327,687/-.
The candidate of the National People’s Power (NPP), Anura Kumara Dissanayake, who won the Presidential Election, spent just over Rs. 527,999,889/-.
We all know in whichever part of the world a person may come from, donors to political parties – whether they be criminal elements, money launderers or business people – expect a return of favour when the persons whom they bank-rolled emerge victorious.
This may be one of the reasons there is a dearth of mega-political shows for the forthcoming General Election. Despite the General Election being a little over a week away, the normal hustle and bustle associated with a General Election is absent this time around.
Again, strange though it may seem, some of the major political alignments speak of the need ‘for a strong Opposition’, rather than for an outright victory. Yet, a vibrant Opposition is necessary for democracy to flourish.
‘Forbes’ reports the Biden – now Harris – campaign committee raised $997.2 million (approx. Rs.292,179,600,000/-). Trump’s campaign committee raised $388 million (approx. Rs. 113,684,000,000/-) in total between January 2023 and October 16, 2024.
Whether we agree with US policies or not, at this time in history, whatever happens in the US affects the rest of the world. The US habitually interferes in the affairs of other states worldwide.
For instance, in the Middle East (ME), the US calls on Israel to call off its genocidal attacks on the Palestinian people. Yet, it continues supplying Israel with more weapons, dollars and sophisticated weapons to continue its genocidal attacks.
According to the ‘Costs of War Project at Brown University’ on March 29, 2024, the Biden administration authorised the transfer of billions of dollars worth of bombs and fighter jets to Israel. The United States spent $17.9 billion on military aid to Israel from October 2023 to October 2024.
Presently, Israel occupies the whole of Palestine. It is also attacking neighbouring countries of Lebanon, Yemen, Syria and Iran.
Again, while calling for an end to the Russo-Ukrainian war in Europe, the US has committed over $52 billion in ‘security assistance’ to support ‘Ukraine’!
The effect of these wars has led to an increase in the prices of wheat flour, and petroleum products and led to worldwide inflation. It is in this context the US election assumes great importance.
Trump claims he will stop US expenditure on both wars. Harris on the other hand steadfastly supports the Ukraine war in Europe and the Israeli genocide in Palestine. The US also weaponises its currency – the dollar which is worldwide tender – as a means of imposing its will on other states.
However, the US is one of the most indebted countries. In February 2024, the total federal government debt grew to $34.4 trillion. The weaponising of the dollar has led to many countries beginning a process of de-dollarisation in international trade.
China, India, Russia, Brazil, Egypt, Iran and South Africa are major economies now trading in their currencies. This has led to the weakening of the US $ and its attempts to browbeat other nations.
At time of writing, Trump has to all intents won the US presidency. How will he react to these challenges? Will he accept the new reality? Or will he turn belligerent and plunge the world into a bloodbath where there can be no winners?
More importantly, how will changes in the US elections affect our country? Let us hope despite the hurly-burly of an election in progress, the government has planned its strategy to face the change.