Attributes of democracy: Economic dimensions

China alone has almost 20% of the population of the world and 65% of them out of 1.4 billion believe in various forms of Buddhism. If Nepal could generate an ambiance to encourage every Buddhist to visit Lumbini once in a lifetime, it would positively promote our economic strength

Despite many political changes, the only gain that has never happened in Nepal for a long time is economic development.

Often, leaders claim that the nation is about to experience unique and exemplary transformation. But mere inducting the political changes and mentioning freedom in line of laws will never suffice any pragmatic progress in the lives of the people and status of the nation.

The grassroots concern is over economic development, rather. People look for a situation which may enable them to afford a better life, buy better health packages, pay fees for quality education of children, enhance index of quality living and so on.

Scholars discussing nation building and bettering democracies like Francis Fukuyama and James Dobbin argue that economic dimension is one of key attributes of democracy.

If admissible and speedy economic progress is gained, other pains will be eradicated. Political stability can be largely expected only on the forth-drop of better financial condition irrespective of differences in political systems.

Li-Quan Yu’s reign in Singapore and respect to Mahathir Bin Mohamed in Malaysia are unforgettable. The repeated victory of Margaret Thatcher in Britain and Franklin D Roosevelt in USA were on similar grounds.

Nonetheless, we are still lagging behind and crawling with meager economy but not because we are sans possibilities. Some mere business plans can totally transform the nation’s economy. A mobile company, Samsung, alone contributes 45% national GDP to South Korea.

Thailand had 4 times weaker economy than ours in the decade of the 1980s but it has become almost five times stronger than us now in terms of the currency exchange rate. Japan, though left almost as crunched in Asia during the Second World War, again rapidly rose.

Middle East countries are gaining more world power and attention only because of crude oil’s sales. Nepal can dominantly drag international attention and economy provided she exercises radically reviving and developing a new business model of 2Hs; those are hospitality and hydro, respectively.

Nepal is the 7th richest country in bio-diversity, thus a large number of people across the globe are always tempted to visit and experiment the unparalleled natural abundance of this country.

Hospitality and rich cultures are common traits. But now a new avenue of tourism, Buddhism tourism, can be developed to bring about significant positive consequences for the tourism industry.

Our next door neighbor China is the economic giant now. It has already the second largest economy of the world.

In periphery too, other countries like Vietnam, Korea, Singapore, Taiwan, Thailand and many more are making rapid economic progress and are called ‘tiger economy’. Some of the researchers note China’s super growth as dragon economy as well.

On the ground of vast economic progress, those people have sufficient money to live a life of revelry with trek and tours.

China alone has almost 20% of the population of the world and 65% of them out of 1.4 billion believe in various forms of Buddhism. Other fast-growing economies, which are called Asian Tigers, are also mostly Buddhist.

If Nepal could generate an ambiance so that every Buddhist visits Lumbini, the birth place of Lord Buddha, once in a lifetime, it would positively promote our economic strength to a large extent.

Many Asian nations growing from kitten to tiger economy can benefit Nepal through their visits to Lumbini if we can extend congenial ambiances.

The slackening economies of Europe and and the USA are also another boon for our tourism industry. They are mostly looking for cheap tourist destinations, and Nepal is always a hot choice for them.

The largest number of Hindu people in India and Nepal having many Hindu temples in Nepal are another attractive plus point.

The latest civilization and development of the world is largely based on petroleum. Some reports conclude that the advancement of the world in 150 years of petrol’s discovery has made much more impact than that of 1500 years in the past.

Nonetheless, the most valuable energy, petrol - even called black diamond - is about to finish soon. Half of the stock is supposed to have been consumed so far. Once the fuel finishes the speedy progress of the world will stagnate.

Then the best option is hydro power. Nepal, having massive potentials in hydro power generation, should cash energy prospect and begin producing energy keeping the stark need of half century later in mind.

We can achieve the condition of today’s Middle East, which is based on sale of oil, by selling electricity, after oil reserves come to an end. But there is a lack of vision for development in this respect among the country’s leadership.

These two modalities may be short-cut but they are sure ways of economic success for Nepal.

Rambling from one to another ambitious business project is neither feasible nor necessary provided serious attention is paid to cash in on these prospects of sound business glamour.

Soon the nation can achieve sound development on its own.

Dahal is a PhD on issues of nation building