Global capitalism is now being challenged on two fronts: (1) by its own internal weaknesses, contradictions, and inequities, and (2) by the response of Muslim and Third World countries. With capitalism riding the current wave of globalization, the real challenge lies not in ‘Unity in Diversity’ but in establishing an open society with a genuine plurality of systems and options, and which offers a diversity with unlimited scope for co-operation in the pursuit of shared values and common interests. The conclusion is that global capitalism is capable of coexisting with other systems; and because of this there is no need to assume that all societies and cultures must try to become a variant of capitalism.
