Western culture or values can be summed up as the art, philosophy, literature, law and social judgments, values and traditions based on the heritage of ancient Greece and Rome, with the addition of Christian understanding from the 4th century onwards. Along with the 1760 Industrial Revolution and the 1789 French Revolution, the development of Western culture was perceived as an "understanding based on liberalization and democratization" resting on key pillars like free trade, industrialization, modern production techniques and the parliamentary system, whose effect on the rest of the world spread from the Ottoman Empire to as far afield as Japan.
The westernization movement and aspirations to become like the countries in the trans-Atlantic Alliance have undoubtedly provided economic and commercial advantages for Europe's more dominant nations, as well as the U.S., who seriously exploited their status from 1850 to 2000. However, with the 2000s, the increasing competitiveness of the Asia-Pacific region, prominent cooperation opportunities in Eurasia and the global financial crisis that came on top of all this, have brought with themselves increased far-right tendencies, protectionism, a fracture in the Atlantic Alliance, a deepening of conflicts of interest and the impression that they have lost sensitivity to the concepts of liberalization and democracy, which are their own professed values.
This is why it should not be surprising that the report published before the Munich Security Conference, in which leading policymakers from the leading countries of the world came together, emphasized on the possible fate of the West and posited the observation that the world was gradually moving away from westernization.
One of the most striking findings in the report is that the leading politicians and parties across the spectrum in the U.S. and Europe have strongly avoided taking the initiative as well as their global responsibilities on key issues like global climate change, the refugee problem, regional conflicts and wars, or producing strategies and solutions to these problems.
This situation brings with it a heavy questioning about how sincere, real and active the West itself is in terms of liberalization, democracy and human rights, which constitutes the core of the westernization movement and a loss of respect.
Policymakers from across the U.S. and the EU are uncomfortable with the evaluations, debates and factoids that have come to the surface over the question of whether the trans-Atlantic alliance is dead and even over the charge that the West has abandoned its own values.
The U.S. wing strongly advocates the stance that the Atlantic Alliance continues in all its glory and that the main threat is Russia, China and Iran. Host Germany, on the other hand, on top of accusing accused the U.S., China and Russia of jeopardizing the international order for their selfish interests, warned about the threats and uncertainties caused by the disruptive dynamics of the world economy due to the global economic-political environment. However, both wings of the Atlantic insist that cooperation between them is important. Let's see if they can eliminate the threat of westernization they have created with their own hands?
Coronavirus: opportunists, risks
The fact that China, which meets 13.5% of global imports and 20% of the needs of the manufacturing industry as a key component of the global supply chain, has fallen back to production rates of a 40-50% capacity since the New Year holiday raises two main problems. First, the major jam that will arise from the automotive and electronics industry's need for intermediate products, processed raw materials and components, may result in a production jam not only in China but in the world. Current estimates suggest a 0.3% contraction in global growth might take place. The second important problem is the concern of countries and companies that produce and export for China's household consumption. The natural stone, thus the marble industry, and the mining industry started to show this problem on a global scale.
Jaguar Land Rover, which operates three factories in the U.K. and is the largest automotive manufacturer in the country, pointed out that it only has two weeks of stocks to continue production and that they can not make sales because life has come to a halt in China and that there was great uncertainty over whether they could recover for this loss by shifting vehicles from China to other countries. India's well-known automotive company Tata Motors also draws attention to a similar situation. It is said that the actual negative consequences of uncertainty caused by the coronavirus in China will be felt in March.
It is clear that opportunists are looking for a chance to increase prices when companies knock on South Korea's door to compensate for the supply China cannot provide for the automotive and electronics sector worldwide. We are going through an interesting situation in that while the disruption to global production caused by China has negatively affected the oil prices, triggered the rise in global commodity prices for the spare parts-based industries and the agriculture and food industries.
Therefore, we will see over time whether the uncertainty caused by the coronavirus triggers global inflation. The International Monetary Fund (IMF) predicts that this whole picture will lead the world economy to a growth performance below the historic average.
The Chinese household has surpassed the global tourism spending of the Americans, with an annual tourism expenditure of $277 Billion. Nearly 18 cents of every $1 of tourism income in the world tourism industry is now earned thanks to the Chinese. Therefore, due to the negative impact caused by the coronavirus, a 10% contraction is expected in global tourism industry revenues in 2020.
Turkey, which hosted over 50 million tourists in 2019, only welcomed 426 thousand Chinese tourists. Therefore, Turkey will be the country whose tourism revenue will be least affected. Due to the quarantine and precautions caused by the epidemic, it is being discussed that China's steel production may decrease by 40 million tons every month. On a global scale, companies are unable to receive sound information on if the goods they have ordered from China were loaded on the ship or if the ship left the port. Although the disease will fall off the agenda in the summer, its effects on the world economy will cover the whole of 2020.
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