Features
Liberal or edible economics – Global disorder worst in a century

by Kumar David
Mao Zedong mischievously quipped that “there is great disorder under the heavens and the situation is excellent”; the date is uncertain, may be the early 1950s. This essay is a survey of recent events and I have attempted to keep abreast of developments by, for example, following the world’s premier English language TV Networks; BBC, CNN, Al Jazeera, CGTN (China’s premier English channel), Euro-News (Private channel headquartered in Lyon, France), DW/Deutch-TV (German, state owned), RT (Russia), NHK (Japan), France-24 (state owned) and NHK News (Japan). Magazine articles, research papers and the US, Chinese, Russian and African governments and agencies Reuters, Bloomberg also reflect a range of views. Without swallowing everything from the aforementioned TV sources, publications and research uncritically I have filtered-in only what I believe are the primary issues at this time.
I have borrowed the term Edible Economics from South Korean economist Ha Joon Chang currently attached to the University of London’s School of Oriental and African Studies (SOAS). The stand-off between Capitalism/Neoliberalism and Edible Economics (rice, parippu and jobs for the masses) has become critical in countries like Sri Lanka. The dollar is in retreat and new alignments BRICS (+ Iran and Saudi?). China’s confidence (the Sino-American Thucydides Trap), its worldwide investments and New Silk Road, and its non-dollar currency alternatives are setting an economic and strategic scenario for years to come.
The virtue of everyday liberalism is that it cuts a path for regular changes of government and hence defuses confrontation; street battles give way to ballot-box battles. In my view any leader, whether of the left or right, who retains power for more than two terms is, de facto, a dictator. The worst are the military regimes; for example, the greed for power of leaders of the factions in Sudan’s army is tearing the country to shreds. Conversely, “Edible Economics” as a contract with liberalism and or social-democracy facilitates transition of governments but undermines the directive role of the state. The dichotomy has been debated for ever so long.
What is new is that the contradiction has become overlaid with an international dimension. The IMF, belt-tightening, debt sustainability, foreign trade and need for a national development plan on one side, but compounded by Sino-American strategic tension in East and South Asia, the Taiwan straits and the Indian Ocean on the other side. One must not underestimate either dimension.
Global banking is facing a rout. In the US Silicon Valley Bank, Signature Bank and First Bank among others and in Europe banking giants Deutsche Bank and Credit Suisse are up to their necks in trouble. But do not underestimate the albeit declining economic importance of the USA. America still accounts for 20 percent of global GDP, down from two-thirds after World War II and down one-third since year 2000.
US trade is 10% of world total, a little smaller than China; 60% of world monetary reserves are in dollars and 40% of its currency is in foreign hands (that is only 40% of dollars circulate at home). Ninety countries peg their currency to the dollar and 90% of currency exchange transactions are in dollars. Half of cross-border loans and deposits are in dollars: half of the world’s private debt is dollar-denominated; thirty five percent of world trade is invoiced in dollars (about the same in Euros).
There is still no safe haven from the US$. The world is dependent on the dollar which is grossly overextended. The global financial restructuring that American political and economic problems have set in motion threaten tectonic shifts in the world’s financial system. Do not to underestimate potential disruption as uncontrolled change proceeds. There is little chance that the American republic will soon return to orderly government. The US even prepared to halt payments of both interest and principal on the huge amounts of money it had borrowed in the past.
Accumulated US debt stands at about $33 trillion compared to its current GDP of about $30 trillion. Short-term interest rates on U.S. government debt spiked as risk of default grew. The US government budget deficit is 5.5% of GDP (revenue $8.4 trillion, expenditure $9.4 trillion). Gross external debt is about $25 trillion and gross public debt about $31 trillion or 125% of GDP). These are the most up to date 2023 estimates that I could find and, in any case, different sources (IMF, World Bank, Statistica, Wikipedia etc give different numbers). I provide them here as a compact source of reliable information for the layman reader.
Who might replace America people ask? The answer, despite a lot of ill-founded speculation about China doing so, is that no one can. America dominates global finance in ways no one has since Spain in the 16th century. But we can no longer afford not to think about America’s eventual displacement from its seven-decade-old financial domination. This could happen in many ways but, one way or another, it’s going to happen. The world was teetering on the edge of a financial cliff.
Let’s move on. Chile accounts for 26% of world’s current lithium production and the Atacama holds the world’s largest reserves of 9.3 million tonnes, eight million in Bolivia and Chile. Chile has nationalised its lithium reserves and there is nothing the West can do except mount a coup, if it dares, as in the Anglo-American overthrow of Mossadegh in 1953. Saudi Arabia, Iran, Iraq, Kuwait, Russia and the UAE together hold about 80% of world oil deposits. These countries are defying the dominance of the Petrodollar and trading in other currencies. Two weeks ago, the world looked on in horror as its cornerstone economy – the United States – prepared to halt payments on the huge national debt of $30 trillion it has borrowed to keep itself in business. Foreign ownership of U.S. Treasuries spiked at $7 trillion ($1 trillion each owned by Japan and China) and the perception of default has grown. The world is a far cry from 1953.
Whether the transition to a new world financial order that has been set in motion is catastrophic or manageable depends in large measure on how the US responds. Some elements of change can be managed, some will likely prove unmanageable. The US is unlikely to gracefully give up privilege it has long occupied at the apex of the international finance. If global bodies cannot be made “democratic” to share power between America and China, an enforced plurilateral order will supplant the status quo. This has already happened in negotiations over trade and investment issues since the Doha Round went into a coma. In recent decades liberalisation of trade between the world’s nations has proceeded through regional and bilateral talks rather than at the multilateral level. The same trend away from American-dominated multilateralism now promises to appear in the financial sector.
The ebbing of American global political leadership over the past two decades have also had the effect of distributing power to the world’s regions. Increasingly, in the Middle East, Europe, Latin America, Africa, and Asia; regional affairs are driven mainly by regional actors, not external powers. U.S. military prowess remains without peer at the global level, but most problems are not amenable to military solutions. All political decisions are local. Fewer and fewer countries still defer to American interests or strategies.
In addition to declining prestige abroad, America suffers from an accumulation of serious domestic problems and impairments. These include decaying physical infrastructure and school systems that no longer produce workers with the competence needed to compete with their peers in nations like Germany, Japan, Singapore, Finland, or even China without significant remedial training. The U.S. tax system badly misallocates investment, exacerbates the maldistribution of income, and impedes social mobility. The country now ranks well below other industrial democracies in terms of equality of opportunity. It has acquired a permanent proletariat in its cities. By most metrics, standards of public health in America are now among the lowest in the developed world.
Post-crisis financial regulations and banking practices are choking off the flow of capital to small and medium-sized enterprises. Participation in the labour force has dropped to historically low levels. Innovation, once a remarkably robust feature of the American economy, is beginning to slip. The United States continues to live beyond its means, pampering its military by pyramiding debt while disinvesting in its civilian economy and running persistent global trade and balance of payments deficits.
There are also great disparities when it comes to natural resources. The United States uses 12.5 percent of the world’s arable land and about 10 percent of its water to feed and clothe a mere 4.5 percent of its people before exporting a huge food surplus. China must sustain 19.5 percent of the world’s people on about 7.5 percent of its arable land, with less than seven percent of its water. It is the world’s largest importer of oil seeds and other food crops. America has never had to be concerned about starvation. It has a vast, if financially wasteful, system of public health to protect it against disease. China, where many pandemics originate, cannot help but worry constantly about the possibility of mass disorder from famine and pestilence.
The US has been the global leader in science and technology for over half a century. English is the lingua franca of international commerce, engineering, and the internet. It commands a network of alliances that enable it to aggregate the capabilities of most of the world’s great powers to its own when the need arises. It has comprehensive military capabilities that no other country aspires to match
In the meantime, China is doing very well despite having far fewer natural advantages than the United States. Assets denominated in renminbi yuan are likely to be more secure than most. But China has too many domestic and foreign policy distractions to wish to replace America as the manager and mainstay of the global political economy or to be able to do so. China will react defensively, as it must, to the problems posed by the collapse of the American-led world order but it will not take the lead in resolving them. Nor will other rising powers, none of which is up to the task of replacing America in the roles it has played in global governance over the past seventy years.
We are entering an era in which there is no alternative to global power-sharing. The world will have to get used to crafting collective solutions to problems rather than looking to American presidents to imagine, invent, announce, and impose them. This is true in foreign policy, where it is now universally recognized that there is no made-in-America solution to the problems of the Middle East, the territorial disputes in East Asia, and many other issues. It is also true for much-needed changes in the global monetary and financial systems.
Features
Oscars 2025: The list of winners from the 97th Academy Awards

Anora, a screwball comedy-drama about a sex worker who marries a Russian oligarch’s son, walked away with the biggest prizes at the 97th annual Academy Awards. The film won the awards for Best Picture, Best Actress, Best Director, Best Editing and Best Original Screenplay.
The musical Emilia Perez, which had the highest total nominations with 13 nods, scooped up wins for Best Original Song and Best Supporting Actress on Sunday night.
Adrien Brody won Best Actor for The Brutalist – his second Oscar. In 2003, Brody became the youngest person to win the Best Actor award for The Pianist at the age of 29. Mikey Madison won Best Actress for Anora.
Kieran Culkin bagged the Best Supporting Actor award for A Real Pain, and Paul Tazewell became the first Black man to win the award for Best Costume Design for Wicked.
No Other Land nabbed Best Documentary Feature for its stark portrayal of Israeli settler violence against Palestinians in the occupied West Bank.
Best picture
- Anora – Winner
- The Brutalist
- A Complete Unknown
- Conclave
- Dune: Part Two
- Emilia Perez
- I’m Still Here
- Nickel Boys
- The Substance
- Wicked
Best Actor
- Adrien Brody, for The Brutalist – Winner
- Timothee Chalamet, for A Complete Unknown
- Colman Domingo, for Sing Sing
- Ralph Fiennes, for Conclave
- Sebastian Stan, for The Apprentice
Best Actress
- Mikey Madison, for Anora – Winner
- Cynthia Erivo, for Wicked
- Karla Sofia Gascon, for Emilia Perez
- Demi Moore, for The Substance
- Fernanda Torres, for I’m Still Here
Best Supporting Actress
- Zoe Saldana for Emilia Perez – Winner
- Ariana Grande, for Wicked
- Monica Barbaro, for A Complete Unknown
- Felicity Jones, for The Brutalist
- Isabella Rossellini, for Conclave
Best Supporting Actor
- Kieran Culkin for A Real Pain – Winner
- Yura Borisov, for Anora
- Edward Norton, for A Complete Unknown
- Guy Pearce, for The Brutalist
- Jeremy Strong, for The Apprentice
International Feature Film
- I’m Still Here – Winner
- The Girl with the Needle
- Emilia Perez
- The Seed of the Sacred Fig
- Flow
Documentary Feature
- No Other Land – Winner
- Black Box Diaries
- Porcelain War
- Soundtrack to a Coup d’Etat
- Sugarcane
Original Song
- El Mal from Emilia Perez – Winner
- Never Too Late from Elton John: Never Too Late
- Mi Camino from Emilia Perez
- Like A Bird from Sing Sing
- The Journey from The Six Triple Eight
Original Screenplay
- Sean Baker for Anora – Winner
- Brady Corbet and Mona Fastvold for The Brutalist
- Jesse Eisenberg for A Real Pain
- Moritz Binder, Tim Fehlbaum, Alex David for September 5
- Coralie Fargeat for The Substance
Adapted Screenplay
- Peter Straughan for Conclave – Winner
- Jay Cocks and James Mangold for A Complete Unknown
- Jacques Audiard for Emilia Perez
- RaMell Ross and Joslyn Barnes for Nickel Boys
- Clint Bentley and Greg Kwedar for Sing Sing
Animated Feature Film
- Flow – Winner
- Inside Out 2
- Memoir of a Snail
- Wallace & Gromit: Vengeance Most Fowl
- The Wild Robot
Visual Effects
- Dune: Part Two – Winner
- Alien: Romulus
- Better Man
- Kingdom of the Planet of the Apes
- Wicked
Costume Design
- Paul Tazewell for Wicked – Winner
- Linda Muir for Nosferatu
- Arianne Phillips for A Complete Unknown
- Lisy Christl for Conclave
- Janty Yates and Dave Crossman for Gladiator II
Cinematography
- The Brutalist – Winner
- Dune: Part Two
- Emilia Perez
- Maria
- Nosferatu
Documentary Short Film
- The Only Girl in the Orchestra – Winner
- Death by Numbers
- I Am Ready, Warden
- Incident
- Instruments of a Beating Heart
Best Sound
- Dune: Part Two – Winner
- A Complete Unknown
- Emilia Perez
- Wicked
- The Wild Robot
Production Design
- Wicked – Winner
- The Brutalist
- Dune: Part Two
- Nosferatu
- Conclave
Makeup and Hairstyling
- The Substance – Winner
- A Different Man
- Emilia Perez
- Nosferatu
- Wicked
Film Editing
- Sean Baker for Anora – Winner
- David Jancso for The Brutalist
- Nick Emerson for Conclave
- Juliette Welfling for Emilia Perez
- Myron Kerstein for Wicked
Live Action Short Film
- I’m Not a Robot – Winner
- Anuja
- The Last Ranger
- A Lien
- The Man Who Could Not Remain Silent
Animated Short Film
- In the Shadow of the Cypress – Winner
- Beautiful Men
- Magic Candies
- Wander to Wonder
- Yuck!
[Aljazeera]
Features
Nawaz Commission report holds key to government response at UNHRC

by Jehan Perera
The United Nations Human Rights Council (UNHRC) sessions in Geneva have regularly been a focal point of controversy for Sri Lanka. Since 2009, the year the thirty-year internal war ended, the country has been the subject of multiple resolutions aimed at addressing human rights violations and war crimes committed during and after the war. These resolutions have been met with strong resistance from successive Sri Lankan governments, which have accused the UNHRC of double standards and external interference in the country’s internal affairs. Nationalist political factions have often used the UNHRC’s actions as a rallying point to stir anger against the international community and ethnic minorities within Sri Lanka, further deepening divisions within the country.
However, the ongoing UNHRC sessions have seen a notable shift in Sri Lanka’s approach. Unlike in previous years, where government delegations clashed openly with UNHRC representatives, the government representatives delivered speeches that emphasised Sri Lanka’s commitment to international human rights norms. Foreign Minister Vijitha Herath reaffirmed Sri Lanka’s commitment to independent and credible domestic mechanisms within the constitutional framework to address post-war issues of national reconciliation. He emphasised that institutions such as the Office on Missing Persons (OMP), Office for Reparations (OR), and Office for National Unity and Reconciliation (ONUR) will be strengthened.
Foreign Minister Herath also said, “The Government led by President Anura Kumara Disanayaka is firmly and sincerely committed to working towards a unified Sri Lanka that respects and celebrates the diversity of its people with no division or discrimination based on race, religion, class and caste. We will not leave room for a resurgence of divisive racism or religious extremism in our country. The fundamental and longstanding principles of democracy and freedom enshrined in our Constitution will be fully respected and safeguarded while protecting the human rights of all citizens. Every citizen should feel free to practice their religion, speak their language, and live according to their cultural values without fear or discrimination. No one should feel that their beliefs, culture, or political affiliations will make them targets of undue pressure or prejudice.”
NAWAZ COMMISSION
However, while the speech did Sri Lanka proud, it largely revolved around broad commitments to human rights rather than addressing specific allegations of war crimes, enforced disappearances, and militarisation in the North and East of the country. For instance, UNHRC Resolution 25/1, adopted in 2014, mandated the Office of the High Commissioner for Human Rights (OHCHR) to conduct an independent investigation into allegations of human rights violations during the final phases of the war. More recently, in 2021, a resolution was passed that granted the UN human rights office a mandate to collect and preserve evidence of war crimes for potential future prosecutions. Successive Sri Lankan governments have rejected these resolutions, viewing them as politically motivated and unfairly targeted at the country’s military and political leadership.
Despite these criticisms, the international community has continued to push for accountability. The extension of the OHCHR’s Sri Lanka Accountability Project in October 2024 highlighted the international perception that Sri Lanka has not done enough to ascertain the truth of what happened in the past and to take action against those who perpetrated war crimes and gross human rights violations during the war period. Foreign Minister Vijitha Herath’s response to this was to say in Geneva, “The contours of a truth and reconciliation framework, will be further discussed with the broadest possible cross section of stakeholders, before operationalization to ensure a process that has the trust of all Sri Lankans.”
The solution of a truth and reconciliation commission is a concept that has taken root and evolved from within the country. The recommendations of the Presidential Commission to Investigate Findings of Previous Commissions of Inquiry on Human Rights chaired by Supreme Court Justice A.H.M.D. Nawaz makes this clear. This Commission was entrusted with the huge task of evaluating the findings of previous Presidential Commissions of Inquiry and assessing their implementation. The Commission’s interim reports, published in 2022 and 2023, and its final report, submitted in January 2024, provide a comprehensive analysis of Sri Lanka’s human rights landscape. The report provides a clear answer—Sri Lanka must establish a Truth and Reconciliation Commission to formally address past injustices, provide justice for victims, and prevent future conflict.
OVERCOMING MISTRUST
The pivotal recommendation from the Nawaz Commission is the formation of a Truth and Reconciliation Commission. As articulated in paragraph 1043 of the report: “Undoubtedly, the Truth and Reconciliation Commission can provide a historical record of serious violations of human rights and international humanitarian law, and influence institutional reforms in law and practice to promote and protect human rights. Critically, they assist in ensuring accountability for serious violations, which is fundamental in order to prevent potential violations, promote compliance with the law, and provide avenues of justice and redress for victims.” By establishing an authoritative historical record, the Truth and Reconciliation Commission can dispel misinformation, acknowledge the suffering of victims, and pave the way for meaningful reforms.
Sri Lanka’s history is replete with numerous commissions of inquiry, each established with the intent to investigate specific incidents or periods of unrest. The Nawaz report goes painstakingly into them. Notable among these are the Three Presidential Commissions of 1994, which investigated violations from 1987 to 1990 but were prematurely halted; the All-Island Presidential Commission of 1998, which built on the earlier inquiries and issued a report in 2002, calling for judicial action; The 2001 Presidential Truth Commission on Ethnic Violence (1981-84), which investigated the 1983 riots. While some victims received compensation in 2004, there was no accountability for perpetrators; The 2006 Udalagama Commission, which investigated cases like the Trincomalee five students and the 17 ACF humanitarian workers but lacked follow-through; The 2010 Lessons Learnt and Reconciliation Commission (LLRC), which reviewed events from 2002 to 2009 and made many recommendations that were not implemented; The 2013 Paranagama Commission, which examined missing persons and civilian casualties during the final years of the war and led to the setting up of the Office on Missing Persons (OMP) in 2016.
The recurring theme across these commissions is a pervasive sense of disillusionment among victims and the broader populace. As the Nawaz Commission which went through them in detail poignantly observes, “Our island nation has had a surfeit of commissions. Many witnesses who testified before this commission narrated their disappointment of going before previous commissions and achieving nothing in return.” This sentiment highlights the critical need for a Truth and Reconciliation Commission that not only investigates but also ensures the implementation of its recommendations, thereby restoring public trust in transitional justice mechanisms. The Nawaz commission being an internal one, entirely funded and supported by the Sri Lankan government, documented and analysed material that was also gathered by other national commissions. This would dispel any notion of an international conspiracy behind it.
IMMEDIATE ACTIONS
The government’s recent approach at the UNHRC suggests a willingness to engage diplomatically. However, for its credibility to grow and for trust to develop, this engagement must be backed by concrete action and be more inclusive in its scope to include key stakeholder groups. The government also needs to move beyond general statements and take tangible steps to address the concerns raised by the international community. Key steps could include Returning Land to Displaced Communities. Many communities in the Northern and Eastern provinces remain displaced due to land occupied by the military. The government should expedite the process of returning these lands to their rightful owners to restore livelihoods and promote reconciliation.
This needs to be buttressed by Releasing Long-Term Detainees. A significant number of individuals remain in detention under the Prevention of Terrorism Act (PTA), some without formal charges. Ensuring due process and releasing those against whom there is no credible evidence would demonstrate a genuine commitment to justice and human rights. Finally, the government also needs to set about Reducing Military Presence in the North and East. The continued military presence in civilian areas fuels tensions and undermines reconciliation efforts. Demilitarization, along with empowering local governance structures, would be a crucial step toward normalizing life in these regions.
The government needs to back up its diplomatic engagement with the UNHRC and other international and national stakeholders with real, measurable actions. Addressing core issues such as land restitution, the release of detainees, and demilitarisation would not only help rebuild trust with the international community but also contribute internally to national unity and reconciliation. This needs to be followed by the establishment of a Truth and Reconciliation Commission that is established in consultation with all stakeholders and is genuinely implemented.
Usually, stakeholders are limited to victims and survivor groups and some government institutions. Ideally, stakeholders should also include, the media and journalists, judiciary and legal institutions, CSOs, NGOs and religious and community leaders, who recognise the need for a Truth and Reconciliation process. The Nawaz Commission Report has laid the groundwork for this vital initiative, and it is up to all of them to ensure its success. Sri Lanka has the potential to be the voice of conscience in a world that is increasingly troubled by the breakdown of international norms. Sri Lanka can do its part to contribute to healing processes in the world.
Features
Bassist Benjy…no more with Mirage

Benjy Ranabahu is known for his bass playing prowess and is a drawcard wherever he performs.
I know of several who wait with great expectation, whenever they see Benjy, on stage, knowing that the moment he moves into action, he would light up the stage with his dynamism.
Yes, Benjy is no more with the group Mirage. The scene changed for him after he returned from the Seychelles, last month.
He hasn’t quit the music scene, he said, adding that at the moment he would like to take a break from the showbiz setup.
“I’m taking things easy at the moment…just need to relax and then decide what my future plans would be.
“I’ve already had offers coming my way but it would take a while before I finally decide whether my future would be as a member of another band or … I put together my own outfit.”
Where Benjy is concerned ‘practice makes perfect’ and he says if he decides to have his own outfit he would make sure that what he gives the public would be nothing short of ‘perfect.’
In fact, Benjy had his own band, not too long ago, and I’m sure music lovers would remember Aquarius.
Aquarius was extremely popular in the scene here, and overseas, as well.
They had contracts in the Middle East and were also seen in action in Europe.

Benjy’s own band Aquarius
Towards the latter stages, Aquarius had female vocalists, from the Philippines, doing the needful as upfront singers, and, together with Benjy, they certainly did mesmerize the audience.
Benjy loves to interact with the audience and is seen very often, down from the stage, and moving from table to table, entertaining, with his booming bass playing.
There have also been occasions where Benjy uses pyrotechnics (kind of fireworks emanating from his guitar) and the audience go ga-ga over such happenings.
Sadly, music lovers are going to miss this dynamic bassist … hopefully, for a short while.
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