Delivering Nelson Mandela Annual lecture in Johannesburg, UN Secretary General Anonio Guterres made a loud and passionate call against global economic inequalities, which have been created and widened by the imposition capitalism on developing countries, which is entirely based on the cannons of free market economy. The most popular Prime Minister of Pakistan Zulfiqar Ali Bhutto had frequently raised voice against what he described unjust economic order. The visionary leader had perceived in advance that US led New World Order for getting control over the resources of third world countries was coming. The predication came true with the US led attack on Iraq in 1991 and then its formal occupation in 2003. Former UN secretary General Kofi Anan had criticised the Iraq war as illegal. Another feature of the New World Order was reveled in the wave of Arab Spring, pushing Libya and Syria into the quagmire of unending civil war. According to the UN Chief the income inequalities between the rich and poor have sparked the recent anti-racist protest in western Countries and further exposed by the coronavirus pandemic. The crux of his speech was focused on income disparities created by the imposition of western capitalism that laid bare the falsehood that free market economy can deliver efficient healthcare and the fiction that unpaid work is not work. The appalling number of deaths in the US, Brazil, the UK, France, Spain and Italy exposed the hollowness of healthcare system in these countries. On the contrary, the social protection in Germany did wonder. It vindicates the censure of UN Secretary General on the exploitative free market economy. He said that during the current Covid-19 pandemic the developed countries have invested in their own survival and have failed to extend the needed financial assistance to developing countries in these dangerous times. It is a clear reference how G-20 countries in their summit turned a deaf ear to calls for waiver of debt of poor countries and gave a lollypop of deferred payment. Prime Minister Imran Khan was the first world leader who pleaded for debt waiver of all developing countries. After the industrial revolution capitalist system came into being. Western countries embarked upon physical colonization in Asia, Africa and Latin America. It paved the way for transfer of financial and material resources to the countries of Western Europe, which opened the doors of prosperity there. The Second World War proved a turning event for ending the physical colonization. However, the imperial powers under the US umbrella established a system of economic subjugation through Breton Wood multilateral institutions such as the World Bank, International Monetary Fund and Asian Development Bank. Not only puppet unelected regimes were supported in the developing countries so long as they were useful assets but also corrupt political elite were installed through manipulative electoral systems there.
