Political economists Radhika Desai, Michael Hudson, and Ann Pettifor discuss how the international financial system traps Global South countries in debt, reinforcing a neocolonial order.
Lots of good questions but insufficient time to give definitive replies. Don't know why anyone debates if borrowing from China is falling into a debt trap? It is obvious that $17 trillion nations don't invest to make paltry interest from others or hope to seize collateral -- makes for poor relations and the collateral is a burden and not a benefit. 70 percent of a nation's borrowings is usually private and China is never the major lender. Nor do I know of any instant when a nation defaulted to China; rather China has heped nations, such as Sri Lanka, not to default. Just more China bashing and easy to expose.
For me the daunting question is how do we get progressive economic policies embedded in political systems that are in lock down ? The abyss between what our academic sages are saying and writing and what treasonous politicians and ideologues are doing only grows wider and more threatening .
Here in the global south, Latin America, the people are and have been organizing and rising up for decades.
Imperialism is deadly, as Kissinger noted:
"The illegal we do immediately; The unconstitutional takes a little longer" ~ Henry Kissinger
Thank Wikileaks for the above.
Here are some examples of what capitalists have and are thinking:
“We are grateful to the Washington Post, the New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost 40 years......It would have been impossible for us to develop our plan for the world if we had been subjected to the lights of publicity during those years.
But, the world is more sophisticated and prepared to march towards a world government.
The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries.”
-----David Rockefeller
"We'll know our disinformation program is complete when everything the American public believes is false.”
— William Casey, CIA director, February 1981
“Isn’t the only hope for the planet that the industrialized civilizations collapse? Isn’t it our responsibility to bring that about?”
“In the next century, nations as we know it will be obsolete; all states will recognize a single, global authority.
National sovereignty wasn’t such a great idea after all.”
-----Strobe Talbott President Clinton’s Deputy Secretary of State, as quoted in Time, July 20th, l992.
Birds born in cages think flying is an illness.
'Capital' knows what it wants. Turn the world into maquiladores as they have in Latin America.
Free enterprise zones, where no taxes are paid.
It doesn't have to be like this.
But without worker organization there can be no class consciousness.
''The mine owners did not find the gold, they did not mine the gold, they did not mill the gold, but by some weird alchemy - all the gold belonged to them! If the workers are organized, all they have to do is to put their hands in their pockets and they have got the capitalist class whipped.''
~ Big Bill Haywood, Miner, founding member & leader of the Industrial Workers of the World (IWW).
Big Bill died in the soviet Union.
For as Marx noted: The workers have no fatherland.
I am afraid that for America all roads lead to Rome.
Perhaps, as in Rome, the Antonio Plague and the following Cyprian Plague are combining in a confluence that is unstoppable.
Great comment! I am hoping the multipolar world where there is greater accountability and more reciprocity will smooth out a lot of injustices. The unipolar will has been an absolute disaster with all the wrong people in charge.
“We are grateful to the Washington Post, the New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost 40 years......It would have been impossible for us to develop our plan for the world if we had been subjected to the lights of publicity during those years.
But, the world is more sophisticated and prepared to march towards a world government.
The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries.”
-----David Rockefeller
“In the next century, nations as we know it will be obsolete; all states will recognize a single, global authority.
National sovereignty wasn’t such a great idea after all.”
-----Strobe Talbott President Clinton’s Deputy Secretary of State, as quoted in Time, July 20th, l992.
I think Talbott was closer to the truth. Large, mammoth trans-national corporations want to turn the world into a free enterprise zone.
I live in S. America and that is the plan by the oligarchs who take their running orders from imperialist America.
One big, privatized world.
A virtual concrete jungle of call centers, maquiladores and assembly lines.
Meanwhile capital seeks to extract the mineral wealth of these nations.
There is only one way that we can win and in America, I am afraid that the imperial core will not be paved with class consciousness.
Al roads lead to Rome.
We have the Antonio Plague and perhaps soon the Cyprian Plague.
The IWW and Big Bill Haywood said it best:
''The mine owners did not find the gold, they did not mine the gold, they did not mill the gold, but by some weird alchemy - all the gold belonged to them! If the workers are organized, all they have to do is to put their hands in their pockets and they have got the capitalist class whipped.''
~ Big Bill Haywood, Miner, founding member & leader of the Industrial Workers of the World (IWW).
But without class consciousness there can be only the morbidities that Gramsci warned of.
Lots of good questions but insufficient time to give definitive replies. Don't know why anyone debates if borrowing from China is falling into a debt trap? It is obvious that $17 trillion nations don't invest to make paltry interest from others or hope to seize collateral -- makes for poor relations and the collateral is a burden and not a benefit. 70 percent of a nation's borrowings is usually private and China is never the major lender. Nor do I know of any instant when a nation defaulted to China; rather China has heped nations, such as Sri Lanka, not to default. Just more China bashing and easy to expose.
For me the daunting question is how do we get progressive economic policies embedded in political systems that are in lock down ? The abyss between what our academic sages are saying and writing and what treasonous politicians and ideologues are doing only grows wider and more threatening .
Here in the global south, Latin America, the people are and have been organizing and rising up for decades.
Imperialism is deadly, as Kissinger noted:
"The illegal we do immediately; The unconstitutional takes a little longer" ~ Henry Kissinger
Thank Wikileaks for the above.
Here are some examples of what capitalists have and are thinking:
“We are grateful to the Washington Post, the New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost 40 years......It would have been impossible for us to develop our plan for the world if we had been subjected to the lights of publicity during those years.
But, the world is more sophisticated and prepared to march towards a world government.
The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries.”
-----David Rockefeller
"We'll know our disinformation program is complete when everything the American public believes is false.”
— William Casey, CIA director, February 1981
“Isn’t the only hope for the planet that the industrialized civilizations collapse? Isn’t it our responsibility to bring that about?”
Maurice Strong, Opening Speech to UN Rio Earth Summit, Rio de Janeiro, 1992, accessed in http://www.infowars.com/maurice-strong-in-1972-isnt-it-our-responsibility-to-collapse-industrial-societies/
“In the next century, nations as we know it will be obsolete; all states will recognize a single, global authority.
National sovereignty wasn’t such a great idea after all.”
-----Strobe Talbott President Clinton’s Deputy Secretary of State, as quoted in Time, July 20th, l992.
Birds born in cages think flying is an illness.
'Capital' knows what it wants. Turn the world into maquiladores as they have in Latin America.
Free enterprise zones, where no taxes are paid.
It doesn't have to be like this.
But without worker organization there can be no class consciousness.
''The mine owners did not find the gold, they did not mine the gold, they did not mill the gold, but by some weird alchemy - all the gold belonged to them! If the workers are organized, all they have to do is to put their hands in their pockets and they have got the capitalist class whipped.''
~ Big Bill Haywood, Miner, founding member & leader of the Industrial Workers of the World (IWW).
Big Bill died in the soviet Union.
For as Marx noted: The workers have no fatherland.
I am afraid that for America all roads lead to Rome.
Perhaps, as in Rome, the Antonio Plague and the following Cyprian Plague are combining in a confluence that is unstoppable.
Great comment! I am hoping the multipolar world where there is greater accountability and more reciprocity will smooth out a lot of injustices. The unipolar will has been an absolute disaster with all the wrong people in charge.
Here are just some of the ravings of US politicians:
“Isn’t the only hope for the planet that the industrialized civilizations collapse? Isn’t it our responsibility to bring that about?”
Maurice Strong, Opening Speech to UN Rio Earth Summit, Rio de Janeiro, 1992, accessed in http://www.infowars.com/maurice-strong-in-1972-isnt-it-our-responsibility-to-collapse-industrial-societies/
“We are grateful to the Washington Post, the New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost 40 years......It would have been impossible for us to develop our plan for the world if we had been subjected to the lights of publicity during those years.
But, the world is more sophisticated and prepared to march towards a world government.
The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries.”
-----David Rockefeller
“In the next century, nations as we know it will be obsolete; all states will recognize a single, global authority.
National sovereignty wasn’t such a great idea after all.”
-----Strobe Talbott President Clinton’s Deputy Secretary of State, as quoted in Time, July 20th, l992.
I think Talbott was closer to the truth. Large, mammoth trans-national corporations want to turn the world into a free enterprise zone.
I live in S. America and that is the plan by the oligarchs who take their running orders from imperialist America.
One big, privatized world.
A virtual concrete jungle of call centers, maquiladores and assembly lines.
Meanwhile capital seeks to extract the mineral wealth of these nations.
There is only one way that we can win and in America, I am afraid that the imperial core will not be paved with class consciousness.
Al roads lead to Rome.
We have the Antonio Plague and perhaps soon the Cyprian Plague.
The IWW and Big Bill Haywood said it best:
''The mine owners did not find the gold, they did not mine the gold, they did not mill the gold, but by some weird alchemy - all the gold belonged to them! If the workers are organized, all they have to do is to put their hands in their pockets and they have got the capitalist class whipped.''
~ Big Bill Haywood, Miner, founding member & leader of the Industrial Workers of the World (IWW).
But without class consciousness there can be only the morbidities that Gramsci warned of.