Repercussions of continued conflicts can derail the ‘One Earth, One Family, One Future’ concept

The G-20 summit was held under the shadow of the Ukraine-Russia war and now the conflict in Gaza Strip has set the alarm bells ringing. The very concept of ‘One Earth, One Family, One Future’ is going for a toss at a time when the world leaders need to strive for realising the goal of last-mile development in tandem with Sustainable Development Goals

The ongoing Palestine-Israel and Russia-Ukraine conflicts are quite distressing. Their repercussions will debilitate the world economy and its people, who are yet to fully recover from the impact of Covid-19. During the recent G-20 Summit, the global leaders reiterated their unwavering commitment to swear by the spirit of ‘One Earth, One Family, One Future’.

Though Xi Jinping and Vladimir Putin did not take part in the summit, the New Delhi Declaration aptly encapsulated the aspirations and concerns of all and sundry.

The G-20 summit was held under the shadow of the Ukraine-Russia war and now the conflict in Gaza Strip has set the alarm bells ringing. The very concept of ‘One Earth, One Family, One Future’ is going for a toss at a time when the world leaders need to strive for realising the goal of last-mile development in tandem with Sustainable Development Goals (SDGs).

The persistent hostilities and political instability have perpetuated an atmosphere of uncertainty, hindering the development of a stable and conducive economic environment even locally.

In the Palestinian territories, the conflict has led to the erosion of infrastructure, limited access to resources, and severe constraints on the movement of goods and people, thereby impeding trade and economic growth. The prolonged conflict has engendered a reliance on international aid, leading to a cycle of dependency that further weakens the prospects for sustainable economic development.

On the other hand, in Israel, the conflict has necessitated significant expenditure on defence and security measures, diverting substantial resources that could otherwise be channelled towards infrastructure development, education, and social welfare. The prevailing insecurity has also influenced investor confidence, thus deterring the potential foreign investments and impeding the realization of the country's full economic potential. Moreover, the ongoing conflict has implications for regional stability, which has broader economic consequences, such as increased risk premiums for businesses operating in the region and heightened geopolitical tensions that may affect trade relations with neighbouring countries.

We also need to note that Palestine-Israel conflict’s economic repercussions extend beyond the immediate geographic boundaries, reverberating across the Middle East and global markets, contributing to geopolitical uncertainties and impacting the price and supply of essential commodities such as oil.

Furthermore, the social and psychological toll of the conflict has perpetuated an environment of mistrust and animosity, impeding the prospects for fostering meaningful economic cooperation and regional integration.

Addressing the economic fallout of the Palestine-Israel conflict will necessitate a multifaceted approach, including sustainable peace initiatives, enhanced regional cooperation, and targeted economic development programs, to foster stability, boost investment and promote long-term prosperity for both Palestinians and Israelis.

It was, therefore, laudable that the G-20 Parliamentary Speakers called on “all states to uphold the principles of international law including territorial integrity and sovereignty, international humanitarian law, and the multilateral system that safeguards peace and stability.”

Their joint statement read “We will unite in our endeavour to address the adverse impact of the war on the global economy and welcome all relevant and constructive initiatives that support a comprehensive, just, and durable peace in Ukraine”.

The Speakers emphasized the importance of sustaining food and energy security and “called for the cessation of military destruction or other attacks on relevant infrastructure. We will also promote equal access to education and professional opportunities, women’s entrepreneurship and leadership, financial and digital inclusion, as well as the enhancement of social, healthcare, and educational services.”

The billion-dollar question is – Who cares? How many advanced countries are ready to go extra mile in building an inclusive and hunger-free world?

As per the 2022 edition of The State of Food Security and Nutrition in the World (SOFI) report, around 828 million people were affected by hunger in 2021, 46 million people more from a year earlier and 150 million more from 2019. After remaining relatively unchanged since 2015, the proportion of people affected by hunger jumped in 2020 and continued to rise in 2021, to 9.8 per cent of the world population. Around 2.3 billion people in the world - 29.3 per cent – were moderately or severely food insecure in 2021.

An estimated 45 million children, under the age of five years, were suffering from wasting, the deadliest form of malnutrition, which increases children’s risk of death by up to 12 times. Furthermore, 149 million children under the age of five had stunted growth and development due to a chronic lack of essential nutrients in their diets, while 39 million were overweight. Of great concern, two in three children are not fed the minimum diverse diet they need to grow and develop to their full potential.

India has ranked 111th out of 125 countries in the Global Hunger Index-2023. Our country ranked 107th out of 121 countries in the 2022 edition of the Global Hunger Index (GHI), a tool for comprehensively measuring and tracking hunger at global, regional, and national levels.

“India has the highest child wasting rate in the world, at 18.7 per cent, reflecting acute under-nutrition,” the report based on the index stated. Wasting is measured based on children’s weight relative to their height. According to the index, the rate of undernourishment in India stood at 16.6 per cent and under-five mortality at 3.1 per cent. The prevalence of anaemia in women aged between 15 and 24 years stood at 58.1 per cent.

The GHI has rightly said the compounding impacts of climate change, conflicts, economic shocks, the global pandemic, and the Russia-Ukraine war have exacerbated social and economic inequalities and slowed or reversed previous progress in reducing hunger in many countries.

Things will worsen if the two conflicts persist. What is shocking is the ineffectiveness of global organizations like the United Nations in rising to the occasion for the sake of humanity, inclusivity and global peace. Let us note that war has long-lasting and far-reaching consequences that reverberate through both the world economy and humanity.

There is no denying that war disrupts global trade, leading to supply chain disruptions and market instability, which can ultimately lead to inflation, unemployment and economic recessions. Global diplomacy, conflict resolution, and sustained efforts towards peace-building and reconciliation must be our top priority.

(The writer is a senior journalist, columnist and author. The views expressed are his personal opinions)