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Friday, October 17, 2008

New Colonization

Malaysia past experience of trading with ethnic Europeans is not very assuring. We fear that free trade will not be fair trade. In this world economic current situation, we fear our commerce being monopolized again like 11 years ago, and maybe we will again be colonized. Already we are seeing moves towards monopolies or at least oligopolies in many businesses. Mergers and acquisitions are creating giants of the corporations of the U.S. and Europe, against whom few can compete.

We should know that bank can make or break not just people and business, but also whole countries. That’s why now every G8 countries come with ideas of bailout plan to save their banks. The big banks of the rich countries are merging and acquiring each other so rapidly that most of them now have more money than most national governments or even countries. If they can operate in any country unrestricted, the chances are the small national banks will be eliminated or swallowed up. The international banks can afford to lose in any country because they would be making a lot in the other countries. The national banks cannot afford to lose because they operate only in their own country. Two or three years of losses by a national bank, then it is ready to beg for a take over by the international giants.

Once the local competitor is eliminated, there would be no need for the big banks to make losses. They can now raise interest rates, etc and deal only with big business. Big banks don’t care for the small man or small business. The result will be a decline in medium and small businesses following the disappearance of the local banks.

Giant corporations are said to be more efficient, more cost effective, and more able to afford costly research and development and introduce new affordable products. But we have seen how giants also collapse. Enron, Globaldotcom, Arthur, Andersen; they have all collapsed. They have cheated. Mercedes-Benz is a great company but is unable to turn around Chrysler or Mitshubishi Motors. Several big banks such as Lehman Brothers, even big insurance company like AIG has failed.

Big is not always beautiful. Big is often ugly. When they fall, they drag down everyone with them. May Allah help us if these giants rule the world?

2 comments:

  1. And May Allah swt help us and NOT make these Giants fall on us indirectly too. Amin!!

    WaSalam.

    ReplyDelete

Surah Al-Baqarah, Ayat 120

"Bukan orang Yahudi, ataupun Nasrani yang akan menerimamu, melainkan jika kamu mengikut agama mereka. Katakan,"Hanya petunjuk Allah sahaja yang benar" Jika kamu menyetujui kehendak mereka, setelah kamu menerima ilmu pengetahuan, kamu akan dapati tidak ada satu perjanjian ataupun penyokong dapat menolongmu dari Allah."

Surah Al-Baqarah, Ayat 216

"Kamu diwajibkan berperang (untuk menentang pencerobohan) sedang peperangan itu ialah perkara yang kamu benci; dan boleh jadi kamu benci kepada sesuatu padahal ia baik bagi kamu, dan boleh jadi kamu suka kepada sesuatu padahal ia buruk bagi kamu. Dan (ingatlah), Allah jualah Yang mengetahui (semuanya itu), sedang kamu tidak mengetahuinya."

Surah Al-Imran, Ayat 28

"Janganlah orang-orang yang beriman mengambil orang- orang kafir menjadi teman rapat dengan meninggalkan orang-orang yang beriman. Dan sesiapa yang melakukan (larangan) yang demikian maka tiadalah ia (mendapat perlindungan) dari Allah dalam sesuatu apapun, kecuali kamu hendak menjaga diri daripada sesuatu bahaya yang ditakuti dari pihak mereka (yang kafir itu). Dan Allah perintahkan supaya kamu beringat-ingat terhadap kekuasaan diriNya (menyeksa kamu). Dan kepada Allah jualah tempat kembali."

Surah Al-An'aam, Ayat 67

"Tiap-tiap khabar berita mempunyai masa yang menentukannya (yang membuktikan benarnya atau dustanya); dan kamu akan mengetahuinya."

Surah Ar-Ra'd, Ayat 11

"Bagi tiap-tiap seorang ada malaikat penjaganya silih berganti dari hadapannya dan dari belakangnya, yang mengawas dan menjaganya (dari sesuatu bahaya) dengan perintah Allah. Sesungguhnya Allah tidak mengubah apa yang ada pada sesuatu kaum sehingga mereka mengubah apa yang ada pada diri mereka sendiri. Dan apabila Allah menghendaki untuk menimpakan kepada sesuatu kaum bala bencana (disebabkan kesalahan mereka sendiri), maka tiada sesiapapun yang dapat menolak atau menahan apa yang ditetapkanNya itu, dan tidak ada sesiapapun yang dapat menolong dan melindungi mereka selain daripadaNya."

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