A dynamic new year awaits us across various sectors, spanning from policy and warfare to critical judgments and sports activities. It's 2024. Welcome!
Firstly, the world grappled with high inflation rates and an economic crisis in the last year. The "dear money" policy dominated almost everywhere, including Türkiye. While still coping with the lingering effects of the pandemic, local conflicts, such as the Palestine-Israel war, emerged. The U.S. dollar, the world's reserve currency, faced attempts by the Federal Reserve System (Fed) to reset its position. Concurrently, Türkiye endeavored to recover from the aftermath of the Feb. 6 earthquakes.
As we step into 2024, the trajectory of humanity remains uncertain, but one thing is certain – it will be a dynamic year. I believe that each person will reflect on it as an unforgettable year. The preferences, voices and governmental decisions of people will determine the fate of this year.
This year will see numerous local and general elections, earning it the moniker "the year of elections": the United States, the Russian Federation, Taiwan, Finland, Pakistan, the Republic of El Salvador...
Undoubtedly, the most prominent one is the U.S. presidential election in November 2024. While the Russian presidential election is crucial for the East side of the world, the excitement and competition are not as palpable – Vladimir Putin is almost certain to lead again.
The most probable Democratic candidate, Joe Biden, could become the oldest leader in U.S. political history if Republican candidate Donald Trump fails to impede him. The U.S. is currently engaged in a battle for "equality in political opportunity." Former President Trump is both a headache for Biden and the GOP's "favorite son." Despite the U.S.' pride in being a bastion of democracy and freedom, Trump faces ongoing efforts to prevent him from running for election, citing his alleged responsibility for the Jan. 6 Capitol attack.
Colorado and Maine recently disqualified him from the ballot, invoking Amendment 14/III of the U.S. Constitution, linking him to the Capitol attack. After objections by state attorneys, the U.S. Supreme Court agreed to try the case, and the legal process will commence in February.
The U.S. Supreme Court won't be the sole witness to significant cases this year; the International Criminal Court (ICC) and International Court of Justice (ICJ) will also play crucial roles. Following the Republic of South Africa's application, the judgment on the Palestinian-Israeli war has commenced this month. The court will evaluate South Africa's claims and determine whether Israeli forces committed genocide.
Unfortunately, expectations for a fair judgment are not high. History and the lives lost, particularly those of children at the hands of Israeli forces, demand a just court ruling. We must remember the adage: "Justice delayed is justice denied."
Given the aforementioned factors, we can expect similar economic circumstances and financial difficulties. The Fed, having halted interest rate increases, is likely to maintain this stance until the year's end, impacting the global economy. High interest rates are expected to slow down economic and commercial activities this year. It appears that high interest rates and a tight money policy will persist until inflation rates return to a normal range.
With this legal, economic and political commentary, I extend New Year's wishes to our country and the world. Let's see if we can make it a happy year together amid the ongoing affairs.
