It is a fact that four people, including one of bin Laden’s sons, were also killed in the operation. According to New York Times, bin Laden’s body was sent to Afghanistan and later the dead body of the great fugitive in the world had been buried at sea. A few hours , Obama made the announcement that a top al-Qaeda ideologue promised revenge for bin Laden’s death. The commentator, going by the online name Assad al-Jihad2 posted on websites a long eulogy for the al-Qaeda leader and promised to “avenge the killing of the Sheik of Islam”. The Pakistani Taliban also threatened vulnerable attacks against government leaders, including President Asif Ali Zardari, the Pakistan army and the United States. “Now Pakistani rulers, President Zardari and the army will be our first targets. America will be our second target,” Ehsanullah Ehsan, a spokesman for Tehrik-e-Taliban Pakistan, Taliban Movement of Pakistan, told Reuters by telephone from an undisclosed location. Mark Kimmit, a US military analyst, said bin Laden’s death “was not the end of terrorism, but an end of a chapter.”
Capturing or killing bin Laden has more iconic value to the people who wanted peace and harmony among nations. It is a burning questions of the day that establishing brotherhood with one nation to another through which Muslim solidarity is inevitable. It will have symbolic value, because it has been a number of years since bin Laden has exercised day to day control over operations. The worlds still have an al-Qaeda threat out there and that will be there for a number of years. “This organization (al-Qaeda) is more than bin Laden, it may be symbolized by bin Laden, but it definitely is more than bin Laden”, the leader expressed his feeling in this way. It is, however, a key accomplishment for Obama and his national security team. Obama’s predecessor, George Bush, had repeatedly vowed to bring to justice the mastermind of the September 11, 2001, attacks on New York and Washington, but never did before leaving office in early 2009.
He had been the subject of a search since he eluded US soldiers and Afghan militia forces in a large-scale mugging on the Tora Bora mountains in 2001. The shadow quickly went cold after he moved out and many intelligence officials believed he had been hiding in Pakistan. While in hiding, bin Laden had taunted the West and advocated his views in videotapes spirited from his hideaway. Besides September 11, Washington has also linked bin Laden to a string of attacks – including the 1998 bombings of American embassies in Kenya and Tanzania.

In view of the above, it is evident that we need to struggle for world peace which is essential for development of economics, finance and smooth administration in a systematic manner. Without guaranty for free movement and free thought, our expectation as a free nation to enjoy prosperity of life shall be nipped in the bud. Not only the remarkable statement of a particular nation but also as a whole it is our earnest appeal to all to come forward for peace of life and appoint our mental as well as physical strength for the real solidarity of eternal life.

In view of the above, it is evident that as a child of the political family, Rahul has been able to win the mind of the common people of India and even irrespective of castes and creeds; he has focused his personality as a beam of the democratic stature of the country. The people of India consider him as a close harbinger of establishing real democracy of peaceful world. Indeed, by his unusual courage and hardihood, he is very much respectful of the Parliament led by the people’s verdict as a tentative flow.

From our schooling in international economics, we come to know that a deficit in current account is not always a curse; nor the surplus always breeds blessings. The former may encroach benefits and the latter might claim some costs, at times. However, since the slide in the surplus in current account is raising storm over a cup of tea, we shall limit our comments on the issue of hugely growing demand for foreign exchange in the market. And, as readers might get fatigued with figures, we shall try to be qualitative in the total approach. A priori, we can hypothesize that the current deficit is a blessing, not a curse. We can also call it a ‘growth-pain’. As an economy experiences a higher rate of growth, some of the side-effects are reflected in terms of inflation and foreign exchange shortage. The Bangladesh economy is expected to reach a growth rate of 6.7 per cent during the current fiscal year. Available indicators so far on agricultural, industrial and services sector show that the economy is poised to achieve the targeted growth rate This necessitates an investment rate of about 27 per cent of our gross domestic product (GDP).

To meet this investment target, import payments are likely to shoot up, especially in the face of import-intensive activities. For example: (a) imports of capital machinery and raw materials, needed for running the wheels of the economy, warrant huge imports; (b) if we allow rental power stations, for example, import bill on petroleum would increase, given its price; (c) to keep food inflation low, food grain imports also claim a part of the total import-pie. By and large, if the imports are used for productive purposes, the current pressure may yield short-term pains but bring long-term pleasure in terms of economic growth. Is there any indication to that? The quantum of industrial production index tends to show that it has significantly increased over time, pointing to increased imports being used to grease industrial production. In this context, one can possibly take into due cognizance the concern of the critics: a part of the supply of dollar could have been siphoned-off through over- and under-invoicing of imports and exports. This is an issue of rigorous research that falls outside the purview of the present write-up. The capital account in the balance of payments is called the mirror image of the current account. In other words, a deficit/surplus in the current account is duly matched by the surplus/deficit in the capital account. The moot question is: how much of the on-going current account deficit can be matched by the inflows in the capital account? In the capital account, there are many items but foreign aid and grants is obviously the most important ones. Available estimates show that aid inflow has decreased over the years. This year particularly, the construction of the Padma Bridge will bag in a substantial amount of foreign exchange. If that is so, much of the woes would be waned. However, the million dollar question that continues to hunt is the absorptive capacity of the economy in the utilization of foreign aid.

There are many reasons for which aid money can not be utilized on time and for which aid in the pipe line does not get disbursed. The following are the reasons as to why foreign money is not utilized on time:
(a) In funding a project, the requirements from donors’ side become time consuming and tedious, taking much longer time than justified. Added to this is the conditionality imposed by the donors and Bangladesh’s wrestling in reigning over their demands. The donors must shed their traditional mind-set to help Bangladesh achieve its development goals.
(b) The important constraint is the bureaucratic hurdle. Bangladesh’s bureaucracy is infamously known as one of the most inefficient ones in talents, if not in making foreign trips. The bureaucrats sit on file related to development projects causing a dilly-dally. Thus, unless bureaucratic barricades can be bashed, the chances of more aid inflow would remain a remote possibility.
© Donors think that some of the projects are economically unsound and driven by political interests to negate any commitment of disbursement. And finally infrastructural problems and absence of good investment climate constrain inflow of foreign direct investment (FDI) which is another source of supply of foreign exchange. The on-going drive at meeting energy crisis and the reforms at governance should pay a dividend in the medium- to long-run.

By and large, given that already a huge amount of foreign exchange is in the pipe line and given that the constraints are reduced to make them available on time, the current crisis in the foreign exchange market is likely to witness a modicum of calm in the very near future. Meantime, the Bangladesh economy would have to pay price in terms of inflation and volatility in the foreign exchange market. But come what may, there is a little chance that the foreign exchange crisis would hit the bottom line when our foreign exchange reserve has to be ready to buy three-months’ imports. Meantime, assuming no deep dip in remittances and assuming that imports capital goods and raw materials would enhance export earnings, the ‘crisis’ may turn into a comfort. The United States presidency is a complex role, encompassing both domestic and foreign policy responsibilities. As a major world power, the United States has a large role in the realm of foreign policy, and it is the duty of the president to assume the role of an international figurehead. Aside from being one of the most politically powerful nations, the United States enjoys its status as one of the wealthiest nations in the international system. However, immense political power and wealth have resulted in the need for the United States to devote a significant amount of its resources toward the assistance and development of those lesser-developed countries throughout the world.
The developing world constitutes a significant portion of our planet, with underdeveloped countries existing in almost every region of the world, including the Middle East, North Africa, Sub-Saharan Africa, Asia, Latin America, and the Caribbean. There is not one simple cause for underdevelopment in the Third World, and developing nations suffer from a host of developmental issues, such as poor governance, corruption, war and revolution, insufficient economic systems, and various public health crisis. As an international leader, the United States has traditionally accepted the responsibility to alleviate some of the suffering in the Third World and has allocated resources toward the development of poor nations. Within the United States government, agencies like the United States Agency for International Development (USAID), under the guidance of the U.S. State Department, have been established to develop and implement humanitarian and development projects to those countries most in need.
Furthermore, a major focus of the Bush administration was the notion of accountability. These two elements, security and accountability, played a critical role in the formation of developmental aid policy under the Bush administration. Ultimately, the key to assessing any policy decision is to examine to what extent the stated goals were achieved in practice. This chapter will examine the formation, details, methodology and goals of the central developmental assistance policy during the George W. Bush presidency – the Millennium Challenge Account. In addition, this chapter will examine how successful the Millennium Challenge Account was in achieving its goals of independence and wealth for the Third World, and security for the United States.
In February 2003, President Bush introduced legislation that proposed new methods for the delivery and implementation of developmental assistance for Third World nations. This proposed legislation would establish a new system for the selection, delivery and administration of developmental assistance. The stated goal of the legislation was to dramatically increase the level developmental assistance by $5 billion a year by fiscal year 2006, and to establish an account for developmental aid, the Millennium Challenge Account (MCA), which would be administered by a small government-run corporation known as the Millennium Challenge Corporation (MCC).2 Bush also outlined new criteria and standards for the administration of development assistance. According to the proposal, countries would be eligible for aid from the MCA if they met the new standards set forth by the MCC. For the distribution of developmental assistance, the Bush Administration believed that there was a direct link between financial accountability and developmental success; therefore, the standards set forth by Bush included a country’s ability to rule justly, to invest in its people, and to encourage economic freedom.3 Only those countries that satisfied those criteria would be eligible for increased aid and assistance from the MCA. Bush noted that the key to ending poverty throughout the world was tying increased assistance to performance and accountability, and that the MCA would promote the need for country ownership, financial oversight, and accountability.4 Rather than subscribing to older methods of distributing developmental aid, the Bush Administration had outlined clear guidelines that they believed would guarantee results in the Third World, ultimately ending, or at least drastically alleviating, the need for further U.S. assistance.
The legislation that followed, Millennium Challenge Act of 2003, largely reflected the goals that President Bush had laid out in his initial proposal. The Millennium Challenge Act and its stated goals and ideals appealed to both Democrats and Republicans in Congress, and the legislation passed by an overwhelming majority of 382 to 42 in the House of Representatives.5 As established in the legislative proposal, the Millennium Challenge Act of 2003 created the Millennium Challenge Corporation, which would be responsible for selecting and administering assistance and programs related to the MCA. Under the legislation, the Board of Directors would consist of the Secretary of State, the Secretary of the Treasury, the administrator for USAID, the chief executive officer of the MCC, and the U.S. Trade Representative.6 Four other members on the Board would be selected by the President from a pool of individuals nominated by the minority and majority leaders in both houses of Congress.7 The act also outlined many limitations for the uses of developmental assistance. According the to legislation, developmental assistance could not be allocated for military training, anything that may prove to hazardous to the environment, abortions and sterilization, or any project that may result in substantial U.S. job loss.8
Also contained within the Millennium Challenge Act of 2003 is the methodology for the distribution of MCA funds. Under the new plan, developmental aid would not be distributed to eligible countries in the form of a blank check to be utilized the way in which the recipient country sees fit. The Millennium Challenge Act of 2003 established the Millennium Challenge Compact, which were mutual agreements between the United States, specifically the MCC, and the recipient country outlining the stated goals and objectives for various development projects. Section 609 of the Millennium Challenge Act outlines the roles of these compacts:
The Board, acting through the Chief Executive Officer of the Corporation, may provide assistance for an eligible country only if the country enters into an agreement with the United States, to be known as a “Millennium Challenge Compact”, that establishes a multi-year plan for achieving shared development objectives in furtherance of the purposes of this title. The compacts themselves carried a number of requirements. In total, the Millennium Challenge Act outlined eleven requirements that must be met as part of the compacts. For example, the compacts had to contain the specific objectives and responsibilities of both the recipient and the United States, benchmarks to monitor progress, a multi-year financial plan, a plan to ensure accountability, and a plan to demonstrate how the recipient country planned to continue developmental projects once the compact has expired.10 In addition to these requirements, recipient countries had to demonstrate that a national development strategy was in place. According to the legislation, a national development strategy meant,
…any strategy to achieve market-driven economic growth and eliminate extreme poverty that has been developed by the government of the country in consultation with a wide variety of civic participation, including nongovernmental organizations, private and voluntary organizations, academia, women’s and student organizations, local trade and labor unions, and the business community.11
Undoubtedly, these Millennium Challenge Compacts were intended to ensure a holistic approach to development in each recipient country. Funding from the MCA was contingent upon each recipient country satisfying these strict requirements. These guidelines for funding fall in line with the Bush administrations desire for accountability. While the United States would maintain a position as a strong partner, the MCC left much of the responsibility to the countries themselves. By requiring recipients to establish plans for the continuation of development following the expiration of MCA compacts, the Bush administration was essentially forcing countries to take the reigns of their own projects and to truly work toward economic growth and independence.
The criteria for the selection of countries that would be eligible for developmental assistance from the MCA was the central and most innovative concept behind Bush’s newly adopted legislation. As established by the Millennium Challenge Act, the Board of Directors of the MCC would be assigned the task of establishing candidate countries and, out of those, selecting those that would be eligible for assistance. A country would be deemed eligible, if in relation to the other candidate countries, it could demonstrate that it possessed the criteria for eligibility, specifically its ability to rule justly, promote economic freedom and activity, and invest in its citizens.12 The primary methodology behind the selection of eligible countries was to compare the candidates to one another using a series of sixteen indicators.13 The indicators used by the Board of Directors corresponded to the three major criteria for selection – ruling justly, promoting economic activity, and investing in people. In the 2004 Criteria and Methodology report, the Board took into account indicators such as Civil Liberties, Political Rights, Voice and Accountability, Government Effectiveness, Rule of Law and Control of Corruption as they related to the notion of a country’s ability to rule justly.14 Related to a country’s encouragement of economic freedom, the Board used indicators such as the Country Credit Rating, 1-year Consumer Price Inflation, Fiscal Policy, Trade Policy, Regulatory Quality and Days to Start a Business.15 Lastly, with respect to investment in a country’s citizens, the indicators established were Public Expenditures on Health as a Percent of GDP, Immunization Rates, Public Primary Education Spending as a Percent of GDP and Primary Education Completion Rate.16 Clearly, these indicators represent many of the factors that are typically identified as the major causes for underdevelopment in the Third World. These indicators were intended to provide an objective basis upon which to compare all candidate countries. In order to be selected as eligible, a country had to be “above the median in relation to its peers on at least half of the indicators in each of the three policy categories and above the median on the corruption indicator.”17 However, even with these indicators in place, the Board of Directors still reserved the right to use discretion in interpreting and evaluating the information when making its final decisions.18
In subsequent years, the indicators for eligibility changed slightly as conditions in the Third World changed. For fiscal year 2005, the MCC substituted the indicator for Primary Education Completion rates for a more specific indicator, Girls’ Primary Education Completion Rates.19 The rationale behind the substitution was to not only demonstrate the need for eligible developing countries to closely invest in the education of its people, but to also stress the importance of women and girls and their capabilities as productive members of an economic system.20 As more and more reliable and consistent data became available to the MCC, further adjustments to the indicators were made in following fiscal years. In FY06, the Cost of Doing Business became a new indicator, replacing Country Credit Rating under the economic activity criterion. According to the MCC, the cost of doing business indicator proved to be stronger than the country credit rating indicator, as the cost of doing business is easily measurable and often results directly from government policy.21 For FY08, the MCC and the administration made several changes to the indicators and incorporated newer, more updated indicators as well. For instance, in order to strengthen the Economic Freedom category, the MCC combined Days to Start a Business and Cost to Start a Business into one indicator entitled Business Start-Up, utilizing data and statistical information from the International Finance Corporation of the World Bank.22 Additionally, the MCC included new factors, specifically related to natural resources and land, in its list of indicators. Falling under the criteria of Economic Freedom was a new indicator assessing Land Rights and Access. This new criterion was intended to assess a candidate government’s ability and willingness to “secure property rights and sound economic policy.”23 Lastly, Natural Resource Management was included under the criteria for Investing in People because, according to the MCC, the new indicator would assess the governments ability to invest in its resources, especially in ways which “will enable poor people, particularly poor women and children, to live health and productive lives.
Aid Modality and Fund Management of Health sector of Bangladesh

In the current mechanism, World Bank (WB) administers the pooled funds on behalf of all the pool donors. Ministry of finance (MoF) uses the current FOREX account with Bangladesh Bank. The aid modality for HNPSDP will follow the current mechanism with some modifications considering the experiences to date, and at the same time further discussion will continue to find out alternative options of fund management to increase government ownership in the program. The modified version will encompass joint analytical work, joint financing arrangement (JFA) between Development Partners and GOB, the establishment of a Pooled Funding Committee including GOB representatives, open eligible expenditure criteria, modified performance-based financing arrangement and procurement pre-review with threshold revisited and streamlining the process. A TA should be engaged from the beginning to manage the fund and develop the capacity of the FMAU.

The process for fund release, expenditure, accounting and reporting of the pooled fund and the subsequent replenishment of the pooled fund will remain same as HNPSP, i.e. FMAU will compile and verify the reconciled SoE sent by the Line Directors and send to the disbursement office for reimbursement.

In view of the above it is evident that when probing the plight of nations of the third world, a simplistic approach to solving some of the developmental challenges would be to allocate money and resources to the poorest and most depraved nations; however, development is not this simple, as the challenges are complex and the solutions are not always clear. Building upon the institutions and methodologies of the past, the Bush Administration ushered in a new era of international development and foreign aid policy. Prior to Bush, it was often assumed that money was flowing into developing countries, but was ultimately ending up in the hands of corrupt government leaders who were using it for less-than-honorable purposes. Especially following the September 11th attacks, the Bush Administration began to focus on international development as a national security issue. As noted by Bush in regards to his development programs, “We also work for prosperity and opportunity because they help defeat terror.”1 According to the administration, without a properly function government and thriving economy, Third World countries would theoretically become more susceptible to becoming havens for terrorists.

In view of the above it is evident that the International Atomic Energy Agency predominated that radiation was on the rampage into the atmosphere on Tuesday after a fire broke out at a spent fuel storage pond of the nuclear plant. The nuclear watchdog later deep-rooted the fire was extinguished. It may be pointed out here that authorities have evacuated non-essential staff from the Fukushima plant as engineers work around the clock to cool the nuclear reactors. Residents within 20 km of the plant have been asked to leave and people within 30 km of the plant have been asked to stay indoors. The nuclear crisis was sparked by a 9.0-magnitude earthquake and tsunami, which is expected to have claimed at least 10,000 lives. Japan’s premier strongly has criticized the operator of the Fukushima plant, Kyodo News reported. “The TV reported an explosion. But nothing was said to the premier’s office for about an hour,” the agency quoted him as saying. “What the hell is going on?” On Tuesday, panic selling sent Tokyo shares down over 10 percent on worries the nuclear crisis would become a catastrophe. The Nikkei index closed off 1,015.34 points at 8.605.15. With ports, airports, highways and factories across Japan shut down; analysts say the impact on the Japanese economy is severe.

The emotions work well for those who have already built the empire to enjoy life particularly in Engliish environment. But it seems that many ever energetic and dynamic courageous youth who have capability to do miracles but unable to find knowledge and wisdom in the regional language may ponder over this to settle the disputes crucially. There is a need to enforce unlearning to fetch the benefit of growth for all. The entrepreneur, executives and managers working in BPOs, Call Centers and IT industry will immediately be grateful for the necessity of this step. It is predominant that starting now, English would help us build an all-encompassing society and renovate a developing country like Bangladesh into a knowledge society.” It is evident that in every sectors of development, there is no alternate of English.

Since last few years, one crucial comparative advantage enjoyed by A developing country like Bangladesh as opposed to its rising neighbor China has been relatively widespread presence of English-speaking people. This advantage will not be there for long unless A developing country like Bangladesh government takes some drastic steps. The recommendations of knowledge commission provide wisdom to A developing country like Bangladesh government. But, let us see how far government reacts on wisdom? In the absence of English, A developing country like Bangladesh will be at disadvantage and A developing country like Bangladesh will be at loss. So there are plenty of opportunities. No society can prosper on old traditions, ethos and even languages. Government which is busy in opening schools based on religion and region to ensure discrimination to fulfill its desire to rule on deprived people will find difficult to accept the recommendation by Knowledge Commission. How far can you ban the integrated networked people across the world by banning on AXN or issuing warning to TV channels? People have the power to reach to the real knowledge and wisdom. Networked people sitting in front of their screen will make a difference. Government may not generate courage to implement such policy immediately but certainly conscious people should understand this. That is what I always emphasize.

The basic thing in which we need to concentrate in learning English writing skills is the grammar part. It is very important to know about present tense, past tense as well as future tense when you write in English. Writing in English is not as easy as speaking in English. It requires proper grammar, sentence formation as well as correct nouns in order to make the reader to understand. The following are the general information’s to the people who write in English and also to people who wanted to learn writing skills and they are:
1) When we put pen to paper in English, it is very imperative that we require to write according to the reader’s height.
2) It is very easier said than done to umpire the viewers on how they will understand the writer’s language. So, it is recommended to write in as straightforward English as we can write.
3) We should steer clear of technical terms, pretentious words. From time to time, these words may sound them in poles apart tone of voice and they do not comprehend the connotation.
4) In order to write in good English, we need to put into practice writing in English ad infinitum by using some best English writing software.
5) All types of writing software will be on hand in the internet and it can be downloaded as well.
6) If we cannot find those software’s then you can use MS word 2007 version and start practice writing on it. MS 2007 software will be available in all operating systems by default and it is very forthcoming to use.
7) In case if we have steadfast some mistake and if the software detects that, make a note of error as well as replacing word so that you will not commit the same mistake next time.
It has been more or less two centuries that English learning was launched in a developing country like Bangladesh and since then it has been playing a vital role in our nationwide life, not to state our educational system. Most people believe that the then British rulers needed some cheap native clerks who could work in their offices much like what Lord Macaulay called “a class of people, A developing country like Bangladesh in blood and color, but English in taste, in opinions, in morals and in intellect”. But I don’t know what methods others follow but for me, in the field of gaining knowledge in civilized world, English language is unique in all spheres of life. Even ardent patriots like Raja Ram Mohan Roy expressed that learning English would help A developing country like Bangladesh to understand the philosophical and scientific advancement of the west. Later on English became a national link language and made a developing country like Bangladesh united in their struggle for independence. It has also improved our languages and literature to a great extent. The people of Bangladesh is very much alert about English Education where English has occupied wide-ranging position through out the globe virtually.

The mode of entertainment awakens the lifeless soul of humans for which humans experience peace and placate in bringing a steadiness of position stuck between sorrows and cheerfulness. In this ephemeral world, the natural beauties like the sun set scene from the rivers and mountains, swimming scene of the crocodile- the only killer animals in the world, the remarkable technique of prey of the lions and the tigers fascinate us on a large scale. When the wandering entertainers roam about here and there even in the remotest corner of the world entertain us and we find pleasures having seen their modes of amusement virtually. In modern day the entertainment modes have been changed. Television chalks out various programmes of entertainment in the field of cinema, drama, science fiction which catch the attention of gaining knowledge and happiness. The musical programmes promulgated in Radio and television give pleasures and tranquility in our real life situation. We can learn a lot on the differentiation of truthful and fictional events. These programmes help us to know the unknown particularly the complex thing apparent to be easier for which we can resolve different simulation based problems and complicacies.

There are lots of modes of entertainment in present day affairs of life which provide us knowledge and skills in retaliating the hurdles which may appear at anytime. In sports and games, we get pleasures of different tastes and attitudes in understating the fundamental realism of life. From the programmes of sports and games, animal planets, science education, simulation technique, geographical and atmospheric programmes in the Internets, Television, Radio and environmental programmes in the Newspaper and magazines, we find various levels of improvement and exploration of newness. It is evident, from the different modes of entertainment; we learn discipline, skills and the significance of success in life. From such moods of entertainment, we find ways and means to proceed towards advancement of success, pleasures and happiness.

Man lives in deeds not in years. All that glitters is not gold. In real life situation, we need to be particular and there is no shelter for the theists who believe in pessimistic life. Hopeful and constructive life is the basis for gaining perfect strategy of success. The modes of entertainments are the perpetual sectors of getting pleasures and happiness from where we can deal a vigilant and constructive way of life. If the modes of entertainment are misled, the youth society may be besmirched and as such we would lose effective manpower for which our development of economic growth will be hampered tentatively. Hence it is said that modes of entrainment teaches us how to avoid chaos, confusion and frolicsome activities ingrained in common life as the social bitterness and the immoral social activities differentiates among the people creating rivalry, jealousy, competition and terrorism.

Throughout the cold war even though regionalism was wide-ranging agenda but its scope was constrained. Due to the fact, all regional schedules at that time were secondary to bipolarisation. End of cold war or collapses of old bipolarisation bequeath regionalism a new momentum. In new state of affairs regional organisations are regarded as an imperative helping hand of the United Nations. For regional problem solving UN growing dependence on regional organisation gave regionalisms a new force. For many developing countries economic marginalization after the end of bloc politics became a major threat. For becoming self reliant developing countries gave more emphasis on regional cooperation. The success of the European Community and their different new type of plans encouraged others to rethink their policies towards economic regional cooperation and as such signing of North American Free Trade Agreement (NAFTA) influenced some countries to reassess the possible gain from regional cooperation. The developing countries are also creating free trade area and trying to include developed partner into their free trade arrangements.

Suffice it to say that in old regional cooperation primary motive in the developing countries were industrialization through import substitution. Regional protectionism for example erection of trade barriers were the instrument. Now trade liberalization i.e. removal of trade barrier has become the main policy in their regional cooperation. In old regional cooperation inward looking strategies were the high priority but now in new regionalism is out ward looking for example export promotion, currency devaluation, economic growth and ultimately global competition is the main goal of new regional cooperation. In the 60s United States was the defender of multilateralism and opponent of regionalism. Now it has become an active partner of regional cooperation. At that time regionalism was viewed as a threat to multilateralism. On the other hand now it has become the helping hand of multilateralism. The old regional cooperation was homogeneous partners based. For example regional cooperation was South-South and North-North based on ASEAN and European Union. Now North-South regional cooperation is visible and it is a new dimension. United States, Canada and Mexico has created largest trading bloc in the world economy. This North American Free Trade Agreement (NAFTA) was signed in 1992. Here Mexico is Southern country. Greater diversity among the partners is new dimension in regional cooperation which was not present in old regional cooperation. A European Union relation with East European countries and with Turkey is also new. Another dimension is inclusion of Vietnam in the ASEAN, which is a communist country.

It is a significant fact that the agreement provisions are among the regional countries of Asian and Europe are new-fangled in the present regional cooperation. In NAFTA treaty the provision of rules of business classed as a new type of protectionism, difference of opinion settlement, academic property rights and environmental fortification and sustainable development clauses are new. Old regional cooperation arrangement are often formed in response to common external threat or based on political factor. Political ideology played prominent role for the creation of most of those regional cooperation. On the other hand new regional cooperation is a multi dimensional, trade and economic issues are prominent here. For example communist threat was the important reason for the creation of ASEAN. Now the policy of this regional organisation has changed . Trade and economic aspects gaining priority in their relations. The Soviet threat played important role in the formation of European Community. The new regional cooperation is spontaneous which is market and consumer driven. On the other hand the old type of regional cooperation was imposed from above or bureaucracy driven and was therefore more limited. The free trade concept is an important issue in comparison to old regional cooperation arrangement. For example beyond simple trade liberalization of trade in services, liberalization in movement of capital and labour, investment, technical and regulatory standards, customs formalities etc. are new. These policies are now followed by most of the regional organisations. The EU and the NAFTA has these provisions. The new regionalisms putting the nation- state system under strain. In the old regionalism the nation- state was the main actor of regional cooperation. In the European Union much of the state’s responsibilities are presently being done by this regional body. The EU is therefore now focusing a common monetary policy, common social policy and common foreign and security policies. Intra-regional South- South trade has increased much in the new regional cooperation than under the old regional one.

In view of the above strategic phenomenal aspects, it is clear from this paper that the changes in the concept of regional cooperation have based to a high degree on the changes in international politics. As we discern that after Second World War power politics subjugated the international system. For that reason regional cooperation arrangements were mostly political and safekeeping based. After the cold war, even though political and security question remains there as always, economic and trade aspects have become the main focus in the new mutual aid.

During the cold war even though regionalism was wide-ranging agenda but its scope was restricted. Due to the fact, all regional schedule at that time was secondary to bipolarism. End of cold war or collapse of old bipolarism gave regionalism a new momentum. In new circumstances regional organisations are regarded as an important helping hand of the United Nations. For regional problem solving UN growing dependence on regional organisation gave regionalisms a new force. For many developing countries economic marginalization after the end of bloc politics became a major threat. For becoming self reliant developing countries gave more emphasis on regional cooperation. The success of the European Community and their different new type of plans encouraged others to rethink their policies towards economic regional cooperation and as such signing of North American Free Trade Agreement (NAFTA) influenced some countries to reassess the possible gain from regional cooperation. The developing countries are also creating free trade area and trying to include developed partner into their free trade arrangements.

Suffice it to say that in old regional cooperation primary motive in the developing countries were industrialization through import substitution. Regional protectionism for example erection of trade barriers were the instrument. Now trade liberalization i.e. removal of trade barrier has become the main policy in their regional cooperation. In old regional cooperation inward looking strategies were the high priority but now in new regionalism is out ward looking for example export promotion, currency devaluation, economic growth and ultimately global competition is the main goal of new regional cooperation. In the 60s United States was the defender of multilateralism and opponent of regionalism. Now it has become an active partner of regional cooperation. At that time regionalism was viewed as a threat to multilateralism. On the other hand now it has become the helping hand of multilateralism. The old regional cooperation was homogeneous partners based. For example regional cooperation was South-South and North-North based on ASEAN and European Union. Now North-South regional cooperation is visible and it is a new dimension. United States, Canada and Mexico has created largest trading bloc in the world economy. This North American Free Trade Agreement (NAFTA) was signed in 1992. Here Mexico is Southern country. Greater diversity among the partners is new dimension in regional cooperation which was not present in old regional cooperation. A European Union relation with East European countries and with Turky is also new. Another dimension is inclusion of Vietnam in the ASEAN, which is a communist country.

It is a significant fact that the treaty provisions are among the regional countries of Asian and Europe are new-fangled in the present regional cooperation. In NAFTA treaty the provision of rules of business classed as a new type of protectionism, dispute settlement, intellectual property rights and environmental protection and sustainable development clauses are new. Old regional cooperation arrangement are often formed in response to common external threat or based on political factor. Political ideology played prominent role for the creation of most of those regional cooperation. On the other hand new regional cooperation is a multi dimensional, trade and economic issues are prominent here. For example communist threat was the important reason for the creation of ASEAN. Now the policy of this regional organisation has changed . Trade and economic aspects gaining priority in their relations. The Soviet threat played important role in the formation of European Community. The new regional cooperation is spontaneous which is market and consumer driven. On the other hand the old type of regional cooperation was imposed from above or bureaucracy driven and was therefore more limited. The free trade concept is an important issue in comparison to old regional cooperation arrangement. For example beyond simple trade liberalization of trade in services, liberalization in movement of capital and labour, investment, technical and regulatory standards, customs formalities etc. are new. These policies are now followed by most of the regional organisations. The EU and the NAFTA has these provisions. The new regionalisms putting the nation- state system under strain. In the old regionalism the nation- state was the main actor of regional cooperation. In the European Union much of the state’s responsibilities are presently being done by this regional body. The EU is therefore now focusing a common monetary policy, common social policy and common foreign and security policies. Intra-regional South- South trade has increased much in the new regional cooperation than under the old regional one.

In view of the above strategic phenomenal aspects, it is clear from this perception that the changes in the concept of regional cooperation have based to a high degree on the changes in international politics. As we know that after Second World War power politics dominated the international system. For that reason regional cooperation arrangements were mostly political and security based. After the cold war, although political and security issue remains there as always, economic and trade aspects have become the main focus in the new cooperation.