This is apropos four letters to the Editor from this writer carried by the newspaper on Thursday, Friday, Saturday and yesterday. This absence also reflects a deeper American decline. The United States has already withdrawn from key UN bodies, distanced itself from multilateral structures, and ceded leadership of global organizations to rising powers such as China and India.
Across Europe and beyond, intellectuals are questioning the legitimacy of veto powers at the UN Security Council, arguing that one nation should not be allowed to overturn a resolution supported by nearly 200 states. The principle of unilateral veto is increasingly viewed as anti-democratic and incompatible with a modern, multipolar world.
If that power is eventually dissolved, the United States — which relies heavily on the veto to protect its geopolitical interests — would suffer the greatest strategic loss.Economists across Europe are also sounding alarms about the US dollar.
They note that gold prices have nearly doubled since Trump intensified tariffs, a sign that global confidence in the dollar as a reserve currency is eroding. History teaches that such erosion is initially slow and subtle — as with the British pound — until one day it becomes sudden and irreversible. (Qamar Bashir)
Copyright Business Recorder, 2025