Challenges ahead for Barack Obama

Barack Obama completes 100 days in office on 30Switzerland by the political leaders and industrial
April 2009. It is a good precedent adopted by many totycoons.
look back and take stock of the positive as well as 
the negative aspects and if in need of formulatingSomething is better than nothing- it is said. Differences
better policy initiatives, both internal and external in thethere were, like France and Germany joining hands
days to come. The youthful President took charge ofagainst encouraging bail-outs, instead they advocated
affairs at a time when US was (and is) facing uphillfor strict regulations and Britain and US on the other
tasks on the economic front which is still in doldrums orside giving more importance to bail-outs.
in a shambles. The financial melt-down is still a looming 
threat to all nations across the world which had itsWith more and more countries turning to the Left- last
genesis in US, thanks to the unregulated free marketweek Iceland, which was one of the safe havens for
economy adopted by the Republican Party (GoP) andblack money also turned to the left- after a colossal
its leaders.financial turmoil, still the apostles of Capitalism are busy
Mr.George W Bush, the former President, a Republicandeliberating on their next steps to bring back the
who “carved a niche for himself” in formulating afree-market economy through the backdoor.
policy affecting both internal and external affairs (thus 
he became the beloved of all) handed over power onObama, after the Summit flew into Germany first, then
a platter to Obama. Obama was by then kept abreastto France, Czech Republic and his last stop was
of all the developments which were not to his likingTurkey. It was a historic tour, he got a chance to
and hence was not alarmed or embarrassed.display his diplomatic potentials at everywhere he went
 befriending all without sowing the seeds of animosity,
While on his whirlwind tour of US to campaign for hishatred and one-upmanship. The election of Anders
Presidential candidature, he reminded the electorate ofFogh Rasmussen , the former Prime Minister of
gigantic tasks ahead and appealed for theirDenmark as the new Chairman of NATO was a fine
co-operation to surmount the obstacles one by one.example of winning the hearts of everybody in the
 selection of Rasmussen . As far as Turkey is
“We must throw ourselves up from the deep pitconcerned Rasmussen was a hated figure from the
we have fallen in” – was his message to hisvery day a derogatory cartoon of Allah was published
supporters.in a Danish Newspaper by its cartoonist. But Obama
 could prevail upon Turkish leaders cajoling them into
“While the Wall Street thrives, we should not allowagreeing for the appointment of Mr. Rasmussen as
the main street to suffer”- were also his famousthe NATO Chairman. A defining example of
words to the American citizen. Those words indicatedObama’s statesmanship.
his determination to rescue the economy from the 
deep ditch which found itself in as a result of eightSimilarly holding out an olive branch to Iran, which was
years of misrule by the GoP.on collision terms with US during the Bush era and the
 simultaneous reciprocating gesture by the Iranian
With good intentions he proceeded to build up theauthorities is also a step forward, though it is not a
economy, pumped $787 billion and later pumped moregreat leap, in establishing peace after a long gap. Both
into the economy to bail-out banks, other institutionscountries have a lot of ground to cover to establish
and for health-care across America. Obama is andurable peace in the trouble prone-area.
advocate of Keynesian theory of economics is not on 
good terms with free-market economy which isOne remarkable step forward anyhow is the fifth
unregulated and it always argues “markets alwayshistoric meeting of the Organisation of American
correct themselves” and there is no need ofStates held at Trinidad-Tobago last week. It was an
interference by the government. But that was not toideal occasion for Obama and the Latin American
be. The experience proved it with the crumbling downcountries to forget the past and pave the way for
of the economic policies adopted by the formercamaraderie. Obama’s moment with Hugo Chavez,
government and its economists like Alan Greenspan.  the Venezeulan Head must have been an
 unforgettable experience. Chavez’s presentation of
A man reputed for his coolness, diplomacy andthe renowned book by Edwardo Galeano titled-
cordiality- Obama is known for these qualities- lost his“Open Veins of Latin America”- to Obama
cool after assuming power, when he came to learnwas  reported with much prominence by the
about the huge sums of bonuses sanctioned by theInternational media. But Cuba is still elusive and it is for
executives of AIG (American International Group)-theObama to take initiative to bridge gaps with the Latin
World’s largest insurance company which wasAmerican Communist nation, which is still undergoing
bailed out with pumping in of tax payers’ money-tosanctions slapped by US in 1948. Sixty years of mutual
themselves. The bureaucrats had no regard for therivalry has to be put an end to, a new era of friendship
failing economy and its after-effects like recession andand co-operation established. Cuba had to endure
retrenchment were notorious for their selfishness andmany a hardship on account of the frequent and
greed which are characteristics of a capitalistindirect efforts by US to undermine the leadership,
economy. After his scathing attack and with theespecially of the greatest revolutionary of our times
Government’s decision to impose 90 percent taxComrade Fidel Castro. CIA, US Intelligence agency in
on the bonuses they had sanctioned tothe past vainfully tried several times to physically
themselves-some of them returned the amounts ineliminate him from the whole scene.
full-not all of them. The bureaucrats of the Citi group 
also followed suit and they were also forced to remitAnyhow past is past, now it is an opportune moment
the bonus back.to lift the embargo and pave the way for lasting
Still the damage control exercise is going on but thefriendship
formidable tasks are still staring in the face of 
President Obama. Not cowed down by the threatsKeeping in mind all these positive aspects in mind
ahead, Obama moves with brimming confidence is apropensity or could we say aspiration for remaining
good sign. After the first round of G20 Summit hostedalways at the top of the ladder is somewhat puzzling.
by George Bush to bail-out the global economy inThe dream of a Uni-polar World still remains at the top
Washington, the then President on 15 November, theof any US head’s agenda. A multi-polar World- that
second round of the Summit was in London, hosted byis not to any President’s liking. A mystery.
Gordon Brown, Prime Minister of Britain on April 2-3. 
Indian Prime Minister ManMohanSingh was also aThe ongoing crisis in Iraq, an exploding situation
participant in the Summit. The deliberations adoptedconfronting Afghanistan and Pakistan and
there, if implemented in letter and spirit could be ofObama’s undesirable interest and pumping of huge
helpful to a certain extent to the nations across thesums to Pakistan to tackle terrorism actually belie our
World - all are tasting the bitter fruits of economicexpectations of this young leader.
down-turn - such as increasing the fund of IMF from 
$250 billion to $750 billion with the intention of extendingHe has ample time to learn. It is pertinent here to note,
help to needy nations to bail-out their economies andhe has taken only a few steps ahead. Let us wish him
to help the member countries to get back hugeall success in his endeavour to bring peace and
amounts of unaccounted money stashed in safeprosperity on the occasion of his completion of
havens like Liechenstein Bank in Germany and UBS inhundred days in office.