We don’t know how 2021 will unfold. Exactly 50 years ago, neither did those heralding 1971.
Let’s do a throwback to some of the major events that unfolded in 1971 and see how exactly 50 years on, events from then may still be festering wounds, creating ripple effects or simply spawning copycat events that 2021 may reveal. Maybe it’s nothing more than reading tea leaves but who knows; one may be able to discern brewing patterns and thus help us be prepared to take the bitter with the sweet.
Politics
When 1971 dawned exactly 50 years back, it was a period when the Cold War was going through a period of détente although the Space Race was on. USA was losing face (and limbs!) in the Vietnam War. On the China front, USA was urging Pakistan to help put in a good word for them with the Chinese. To show good faith, USA even ended its trade embargo with China while Pakistan helped arrange breakthrough meets and thawed the frost between USA and China. China in fact got admitted into the United Nations. Fast forward 50 years and as 2021 dawns, USA is now stuck in another quagmire in Afghanistan and urging Pakistan to help out. The China USA romance is frosty once again and embargoes are back in play.
In New Jersey race riots erupted in 1971 when city police beat to death a Puerto Rican motorist. Needless to say, but 50 years on, race, riots, cops and death still make front page news – in the same headline, in the US.
In 1971 United Arab Republic, finally came out of its rump state, to rebrand itself to become Egypt. Their rump state had been caused by the coup leading to the formation of Syria a decade earlier. Another coup and war led to Pakistan facing ignominy of losing East Pakistan which secured independence and rebranded as Bangladesh. 50 years on, all these countries continue to grapple with their domestic insecurities.
1971 was the year when House of Commons in UK voted in favor of joining the European Economic Community, which is today known as European Union. Exactly 50 years on, the divorce looks sealed and just like USA-China, the UK-European romance could not even last half a century!
Talking of UK and independence, 1971 also saw Britain decamping from their global exploits of the past century and Qatar, Bahrain and UAE securing sovereignty over their lands. The British short sightedness that has led to Brexit was on full display exactly 50 years back too as in 1971 it passed legislation in 3 days to restrict immigration into UK on the basis of hyped threat of Africanization of UK.
Interestingly, leaders from exactly 50 years ago were people who are still household names. Mao Zedong, Indira Gandhi, Zulfiqar Ali Bhutto, Leonid Brezhnev, Fidel Castro, Richard Nixon. Not to forget Queen Elizabeth II who was already a veteran ruler in 1971 and to this day holds the fort. Idi Amin of Uganda was the freshman in the class of 1971 when he became president via a coup but in later years was going to cement his place in the history books – for all the wrong reasons.
Business
A few business ventures which launched in 1971 are global empires 50 years on. Nasdaq composite made its debut, Walt Disney World opened its gates in Florida, the first Starbuck coffee got served and Southwest airlines took off with their low cost carrier model.
Interestingly in 1971, some incredibly wily moves were made, that still plague the financial world. However, nothing can trump ditching the Gold standard and the international monetary system becoming a pure fiat currency charade. 50 years on, now fiat is finally being threatened with an equally crafty digital equivalent.
Tech
While we might think 2021 to be the year when we will embrace tech as never before, it might be useful to pause and recap on what a banner year 1971, exactly 50 years ago, was for tech!
1971 was the year when the first email was sent between host computers, the first e-book was published, Intel released the first microprocessor and we got to see the first PC, first floppy disk and the first computer arcade game. Now how’s that for being a really productive year? Add to that it being Elon Musk’s year of birth as well!
Tailpiece
50 years back, in 1971, the Nobel Prize in Literature went to Pablo Neruda who famously wrote “You can cut all the flowers but you cannot keep spring from coming.”
Here, spring is not just a season but signifies the hopes of a new beginning.
Here is to the hope of new beginnings, although the past invariably continues to repeat itself.
Be gentle 2021!
This article by Asher Noor, was first published on Medium.
