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What's happening with the economic news?

Recently I wrote about the Mormon church, about their production of a spiritual musical called Truth shall prevail, being staged at the Chorley, Preston temple in Lancashire.  My blog had over 1600 reads, mainly from Hongzhou in China.  Thank you, dear readers.
 
At the moment the most alarming news is from Zimbabwe, where President Mugabe has been re-elected, amidst complaints that the election has been rigged.  His comeback has been with the announcements of implementing policies of nationalisation of mining and natural resources companies.  Mr Mugabe obviously does not believe in free-market economics, nor does the devout Catholic believe in forgiveness, which he and inter-alia his nation received after he took over the white peoples' farms and handed them out to his cronies and their clans.  A nation that was once the bread basket of Africa has reduced itself to a state of constant shortages of food in the supermarkets, due to neglect of a farming sector that has lost its efficiency;  and loss of credibility overseas which have hampered imports.  Just like Zimbabwe produced the Billion Dollar notes and failed to appreciate that their currency cannot have the status of a world reserve currency, so now President Mugabe... but wait, this devout Catholic and clever student and man of the world will surely not fail to realize that nationalising assets belonging to international companies will lose international goodwill towards his nation.  And while it may be very profitable in the short term, in the long term it would be like taking a slow poison.
I pray President Mugabe's  good sense will prevail and he will not decide on such a brutal policy. I hope this man who likes to be portrayed on his country's postage stamps in the manner of a sovereign, follows policies which will leave his country a legacy where they can trade and interact with the rest of the world as a free market economy, for years to come.   Let there not be a time when the nation once again degenerates into a period of stupor and complacency, like recently when so many years were lost due to loss of goodwill abroad and lack of scientific know-how in the country. 
 
The kind gift of globalisation has been the awareness of the spirit that only with co-operation and fairness in dealings can all the nations prosper, by developing their natural resources and exchanging them with others on a fair basis.  To punish the intermediaries of such development, the international companies who operate within the boundaries and jurisdiction of every nation, would not be a welcome gesture.
 
Mr Mugabe's pronouncements have caused market jitters in the short term.  Hopefully he will heed the wise counsel of his Ministers and allow the development of his nation's enterprises continue with international know-how, expertise and capital. 
 
I have many friends from Zimbabwe at the church, and I wish them and their President well.  I hope Mr Mugabe reads my words, and heeds the advise I offer.
 
Kind regards,
Duru-darshan.
 

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