Economist Michael Hudson describes how China created an alternative to the Western neoliberal order, and how the Global South can challenge the rent extraction of US-centered financial colonialism.
Yes! and this is the very reason academics and scholars like Hudson must have powerful influence on government policies. We are in an era where government must employ the best and brightest... half-baked demagogues and fraudsters are no longer welcome.
What this boils downto is that the 'West's financial institutions and governments are up in arms about is that the Gloval South, the Global majority, BRICS+ is that they are trying trying to free themselves from the golden handcuffs the west has imposed on them.
And the true vilen is China which has proven it can be done. And what's outrageous to the West is the Belt and Road Initative which is financing the liberation of othere xploited countries.
Thank you Michael Hudson for your very englightened presentation.
"Global South countries and others have been driven so deeply into debt that they have been obliged to sell off their public infrastructure to pay its carrying charges. Recovering control of their natural resources and basic infrastructure requires the fiscal right to impose an economic-rent tax on their land, natural resources and monopolies, as well as the legal right to recover environmental cleanup costs caused by foreign oil and mining firms, and to implement financial cleanup costs (i.e., write offs and cancellation) of the foreign debt burden imposed by creditors who have not taken responsibility to ensure that their loans can be paid under existing conditions."
I live in the global south. Everything above I see before my eyes. And the struggle here excludes liberals and thus it is ultra right against socialism.
My fear is that the means of production, technology in our age, is far out pacing the human intellect and is causing cognitive diminishment to the point of personal and social delusion.
Explain the election of Milei and then the day after protests. Desperation. And with Palentier and Carbyne and other (many Israeli spy ops from Unit 8200) along with all AI, how do we resist?
Latin America is a den of spies and infiltrated socialists parties. The playbook is always the same. 8 Pink Tide Countries overthrown in less than eight years.
The situation is dire. Here, where I reside, there is no electricity and droughts, all of which will impact the more comfortable North Americans.
I too live in the global south. This article lays out the major trends. A "3rd world" nation trying to survive and thrive faces multiple challenges. Western pressure, subversion and overthrow is an always present danger. It will prey on any weakness. Nations must understand and build their strengths and identify and fix their weaknesses. Every case is unique within the overall pattern described by Hudson. The nation where I live has some unique strengths, is clear eyed about the dangers (having been invaded twice) and has found a moderate and original path forward that fits its circumstances. Fortunately over the last fifty years has had a stable and increasingly democratic government and a series of solidly pragmatic non-charismatic leaders following an unspoken national consensus program that might be described as business friendly social democracy with an emphasis on institution-building, modernization and progress. It has found a way to mute and contain potential ethnic, religious, racial, class and ideological divisions. It is fortunate to have a common language , culture and history, a compact geography and a small town tradition of general tolerance. While it has a variety of natural resources such as rich farm land, attractive beaches and one gold mine, as well as a favorable climate and location for maritime trade, it has no oil fields, lithium mines, sprawling forests, poppy fields, masses of desperately poor or marginalized workers or other such resources attractive to predatory global corporate or criminal interests. Endemic government and police corruption, an unreliable legal system and an ineffective educational system are all weaknesses, but improvements in all these areas are widely supported priorities in which progress is being made. In terms of Hudson's article, political and economic elites, aided by their country's strengths and relative lack of common weaknesses, have found quiet ways keep relative control of their economy and avoid the worst predations of international capitalists and financial colonialists. Fortunately, they have a reasonably strong hand and they are playing it well. I am hoping they can continue to do so, but its not a sure thing by any means. Many other countries have been dealt much weaker hands and have played them less well.
The problem I see here in Europe isn't the Elite that have a clear idea and plan, is the people, are the citizens completely brainwashed and prostituted to that religion. Because the Elite policies are made of dogmas as religion is.
The censorship they are preparing and putting in place once again after the one they accomplished for Covid times is gonna be the end of any multicultural West.
These times remind me quite often of Hunger Games sequels but I'm not sure that we, in the west, we gonna see the 3rd one anytime soon. Unfortunately.
Recent discussions of the Great Reset seem to me to be a potential tactic for the economies that have been exploited by colonial (neo or not) imperialism.
Those worrying about the Great Reset see evidence for in how some Governments appear to be seeking war and/or general chaos as an opportunity to default on debt, devalue currency and switch to only allowing a digital one.
The motto of those in the West seeking the Great Reset goes beyond "Never let a crisis go to waste" to something like "last one to the shelter is a hard boiled egg."
The people who cannot have enough, I think, are insecure.
They are proving something in comparison to others that is related in some insecurity in themselves. Or in some cases because they seek power over others to feel superior.
Individualism, to me (at least) implies people who are content in their own skin, not in reflected glory.
Appreciate your thoughts. I read it differently. America is a "pull 'em up by their bootstraps" society where "I got mine you get yours."
And this is wedded to both capitalism as an economic system and the capitalist culture as a whole. Collectivism is hated unless it is a paid sports gym.
The insecurity you speak of I agree with. It;s source we may not agree.
Alienation from self and society is one of the droppings of capitalist culture. Marx spoke well in his 1844 Philosophical Manuscripts about the phenomenon of alienation from self and society.
Individualism is just that. The Ayn Rand culture; the Thatcher economics, all wedded to a society where go it alone individualism is the creed if not the blood line flowing through the veins of Americans. Capitalism is a religion.
Yes, we read it differently... or I was looking at individualism more generally, without regard for where they lived (or to the extent they had to reject the standard culture). Despite some cultures being much more collectivist, by definition, mainstream culture wherever it is seeks to create feelings of shared feelings, like patriotism, and shared value judgments.
While I used an example of a USA Great Reset, multiple less individualistic cultures in Europe have elected elites who are chronically deceiving their people to make them accept culling of their own herd in the next Made In Europe World War.
In the real world, those who seek power, which includes the oligarchs and the Political Class, no matter in what system, exploits the people as they would sheep, but are not really individualists.
A real individualist can be content without others.
It is so important for all ordinary Americans to understand this! For me it shows the possibility of an equitable world. The steps already taken are very good but the USA and other ripoff artists will definitely throw their entire weight behind preventing these steps from being taken. Apparently through violence and if absolutely necessary use nuclear weapons. Can they really be stopped?
"Taxing these rents would help stabilize their balance of payments, while providing their governments with revenue to finance their infrastructure needs and the related social spending needed to subsidize their economic modernization.
That is how Britain, France, Germany and the United States established their own industrial, agricultural, and financial supremacy. This is not a radical socialist policy; it always has been a central element of industrial capitalist development."
I'm afraid that such legal changes in the "host* countries would make necessary a social revolution. Imperialism will always intervene violently behind a local group of mercenaries posing as a political party with just one sacred policy: don't tax monopoly rents. Then what?
Lenin outlined the general trend of the developments you describe in this essay . His "Imperialism" highlights the dialectical shift from a youthful Capitalism seeking greater freedom, rationality and efficiency to present day Imperialism, it's polar opposite.
The only difference between his pamphlet and your essay is in the conclusion: what to we do about it. I agree with Lenin's recommendations for action. They are more realistic.
Yes! and this is the very reason academics and scholars like Hudson must have powerful influence on government policies. We are in an era where government must employ the best and brightest... half-baked demagogues and fraudsters are no longer welcome.
What this boils downto is that the 'West's financial institutions and governments are up in arms about is that the Gloval South, the Global majority, BRICS+ is that they are trying trying to free themselves from the golden handcuffs the west has imposed on them.
And the true vilen is China which has proven it can be done. And what's outrageous to the West is the Belt and Road Initative which is financing the liberation of othere xploited countries.
Thank you Michael Hudson for your very englightened presentation.
"Global South countries and others have been driven so deeply into debt that they have been obliged to sell off their public infrastructure to pay its carrying charges. Recovering control of their natural resources and basic infrastructure requires the fiscal right to impose an economic-rent tax on their land, natural resources and monopolies, as well as the legal right to recover environmental cleanup costs caused by foreign oil and mining firms, and to implement financial cleanup costs (i.e., write offs and cancellation) of the foreign debt burden imposed by creditors who have not taken responsibility to ensure that their loans can be paid under existing conditions."
I live in the global south. Everything above I see before my eyes. And the struggle here excludes liberals and thus it is ultra right against socialism.
My fear is that the means of production, technology in our age, is far out pacing the human intellect and is causing cognitive diminishment to the point of personal and social delusion.
Explain the election of Milei and then the day after protests. Desperation. And with Palentier and Carbyne and other (many Israeli spy ops from Unit 8200) along with all AI, how do we resist?
Latin America is a den of spies and infiltrated socialists parties. The playbook is always the same. 8 Pink Tide Countries overthrown in less than eight years.
The situation is dire. Here, where I reside, there is no electricity and droughts, all of which will impact the more comfortable North Americans.
I too live in the global south. This article lays out the major trends. A "3rd world" nation trying to survive and thrive faces multiple challenges. Western pressure, subversion and overthrow is an always present danger. It will prey on any weakness. Nations must understand and build their strengths and identify and fix their weaknesses. Every case is unique within the overall pattern described by Hudson. The nation where I live has some unique strengths, is clear eyed about the dangers (having been invaded twice) and has found a moderate and original path forward that fits its circumstances. Fortunately over the last fifty years has had a stable and increasingly democratic government and a series of solidly pragmatic non-charismatic leaders following an unspoken national consensus program that might be described as business friendly social democracy with an emphasis on institution-building, modernization and progress. It has found a way to mute and contain potential ethnic, religious, racial, class and ideological divisions. It is fortunate to have a common language , culture and history, a compact geography and a small town tradition of general tolerance. While it has a variety of natural resources such as rich farm land, attractive beaches and one gold mine, as well as a favorable climate and location for maritime trade, it has no oil fields, lithium mines, sprawling forests, poppy fields, masses of desperately poor or marginalized workers or other such resources attractive to predatory global corporate or criminal interests. Endemic government and police corruption, an unreliable legal system and an ineffective educational system are all weaknesses, but improvements in all these areas are widely supported priorities in which progress is being made. In terms of Hudson's article, political and economic elites, aided by their country's strengths and relative lack of common weaknesses, have found quiet ways keep relative control of their economy and avoid the worst predations of international capitalists and financial colonialists. Fortunately, they have a reasonably strong hand and they are playing it well. I am hoping they can continue to do so, but its not a sure thing by any means. Many other countries have been dealt much weaker hands and have played them less well.
Txs a lot for your clear and helpful articles.
The problem I see here in Europe isn't the Elite that have a clear idea and plan, is the people, are the citizens completely brainwashed and prostituted to that religion. Because the Elite policies are made of dogmas as religion is.
The censorship they are preparing and putting in place once again after the one they accomplished for Covid times is gonna be the end of any multicultural West.
These times remind me quite often of Hunger Games sequels but I'm not sure that we, in the west, we gonna see the 3rd one anytime soon. Unfortunately.
Recent discussions of the Great Reset seem to me to be a potential tactic for the economies that have been exploited by colonial (neo or not) imperialism.
Those worrying about the Great Reset see evidence for in how some Governments appear to be seeking war and/or general chaos as an opportunity to default on debt, devalue currency and switch to only allowing a digital one.
The motto of those in the West seeking the Great Reset goes beyond "Never let a crisis go to waste" to something like "last one to the shelter is a hard boiled egg."
It is all the culture of insipid individualism that reeks within the country. None for all and all for one.
I would not call it individualism.
The people who cannot have enough, I think, are insecure.
They are proving something in comparison to others that is related in some insecurity in themselves. Or in some cases because they seek power over others to feel superior.
Individualism, to me (at least) implies people who are content in their own skin, not in reflected glory.
Appreciate your thoughts. I read it differently. America is a "pull 'em up by their bootstraps" society where "I got mine you get yours."
And this is wedded to both capitalism as an economic system and the capitalist culture as a whole. Collectivism is hated unless it is a paid sports gym.
The insecurity you speak of I agree with. It;s source we may not agree.
Alienation from self and society is one of the droppings of capitalist culture. Marx spoke well in his 1844 Philosophical Manuscripts about the phenomenon of alienation from self and society.
Individualism is just that. The Ayn Rand culture; the Thatcher economics, all wedded to a society where go it alone individualism is the creed if not the blood line flowing through the veins of Americans. Capitalism is a religion.
Yes, we read it differently... or I was looking at individualism more generally, without regard for where they lived (or to the extent they had to reject the standard culture). Despite some cultures being much more collectivist, by definition, mainstream culture wherever it is seeks to create feelings of shared feelings, like patriotism, and shared value judgments.
While I used an example of a USA Great Reset, multiple less individualistic cultures in Europe have elected elites who are chronically deceiving their people to make them accept culling of their own herd in the next Made In Europe World War.
In the real world, those who seek power, which includes the oligarchs and the Political Class, no matter in what system, exploits the people as they would sheep, but are not really individualists.
A real individualist can be content without others.
PROBLEM WITH NEW SUBSCRIPTION. CANNOT GET PAST THE "BRIDGES" QUESTION. PLEASE EMAIL ME AT ONEPOLISHBRATT@GMAIL.COM.... THX, CAROL
Graphical analysis of the financialization of housing in Canada:
https://radiobill.ca/Content/InterestRatesFinancializationAndHousing.html
It is so important for all ordinary Americans to understand this! For me it shows the possibility of an equitable world. The steps already taken are very good but the USA and other ripoff artists will definitely throw their entire weight behind preventing these steps from being taken. Apparently through violence and if absolutely necessary use nuclear weapons. Can they really be stopped?
"Taxing these rents would help stabilize their balance of payments, while providing their governments with revenue to finance their infrastructure needs and the related social spending needed to subsidize their economic modernization.
That is how Britain, France, Germany and the United States established their own industrial, agricultural, and financial supremacy. This is not a radical socialist policy; it always has been a central element of industrial capitalist development."
I'm afraid that such legal changes in the "host* countries would make necessary a social revolution. Imperialism will always intervene violently behind a local group of mercenaries posing as a political party with just one sacred policy: don't tax monopoly rents. Then what?
Lenin outlined the general trend of the developments you describe in this essay . His "Imperialism" highlights the dialectical shift from a youthful Capitalism seeking greater freedom, rationality and efficiency to present day Imperialism, it's polar opposite.
The only difference between his pamphlet and your essay is in the conclusion: what to we do about it. I agree with Lenin's recommendations for action. They are more realistic.