Introduction The Venezuelan economy has grown more than 94 percent since the current expansion began in the second quarter of 2003.1 The overwhelming bulk of this growth has been in the non-oil sector.2 Throughout most of these five and a half years of unprecedented growth, the economy has often been characterized as an “oil boom […]
Geography Archives: Venezuela
South America: Recession Can Be Avoided
Can South America escape the wrath of the economic and financial storms that have their epicenter in the United States? Since the financial meltdown began in mid-September, the bond markets of most of the region (Brazil, Argentina, Colombia, Venezuela) have been hit, as well as most of their stock markets and a number of currencies. […]
Venezuela’s Transition to Socialism
In October 2008, I was invited by the World Forum for the Alternatives to a conference in Caracas, Venezuela. This provided me with an opportunity to learn more about a country that has embarked on a path of redistribution under a programme that Venezuela’s President Hugo Cavez Frias now calls “Socialism of the 21st […]
Venezuela: Crucial Test for Bolivarian Revolution
While on the surface it may appear to be a simple electoral battle, something much different is at stake on November 23. On that day, Venezuelans will go to the polls to elect 22 governors, 328 mayors, 233 legislators to the state legislative councils, and 13 councilors to district committees — including indigenous representation — […]
Developing Countries: Dangerous Times for the Internal Public Debt
Since the second half of the 1990s, the internal public debt of the world’s developing countries has increased significantly. This increase is now reaching alarming proportions in a number of middle-income countries. While some very poor countries have not yet been affected, the historical trend indicates a continuing rise in the debt level for developing […]
New African Resistance to Global Finance
Far-reaching strategic debate is underway about how to respond to the global financial crisis, and indeed how the North’s problems can be tied into a broader critique of capitalism. The 2008 world financial meltdown has its roots in the neoliberal export-model (dominant in Africa since the Berg Report and onset of structural adjustment during the […]
World’s Labor Federations React to Financial Crisis with Proposals from Re-regulation to Socialism
Labor unions around the world have reacted to the financial crisis and the economic recession with words and actions reflecting their national experience, their political ideology, and their leaderships. Unions and workers have already seen the financial crisis and the growing recession result in the closing of plants and offices, in shorter workweeks, pay cuts, […]
Responses from the South to the Global Economic Crisis
International Political Economy Conference Responses from the South to the Global Economic Crisis Caracas, Venezuela Final Declaration Academics and researchers from Argentina, Australia, Belgium, Canada, Chile, China, Cuba, Ecuador, France, Mexico, Peru, Philippines, South Korea, Spain, United Kingdom, United States, Uruguay and Venezuela participated in The International Political Economy Conference: Responses from the South to […]
Russia Draws Closer to Venezuela
Zaa Nkweta, The Real News: Venezuela just announced that it plans to buy Russian tanks as well as Russian armed reconnaissance vehicles. At the same time, the Russian naval fleet is on its way to Venezuela to conduct joint military exercises. What do you make of this? Forrest Hylton: On the one hand it’s […]
Iran: Comprehensive Sustainable Development as Potential Counter-Hegemonic Strategy
The questions regarding variations in social development, economic progress, and political empowerment have produced a voluminous literature over the past century, and because of the complexity of these issues, much important reflection will continue well into the future. In the early 1980s, a United Nations’ Commission coined the term “sustainable development” as a public statement […]
Argentina: The Crisis That Isn’t
In recent weeks there have been numerous press reports and articles indicating that Argentina is facing serious economic problems that could lead to a default on its sovereign debt. Some of these analyses compare Argentina’s current situation to that of 2001, when the government of Argentina did actually default.1 It is not only journalists and […]
Bolivia: Defeat of the Right
In the amazing series of elections in South America in the last five years, the most radical results were in Bolivia, with the election of Evo Morales as President. It is not because Morales stood on the most radical platform. It was rather that, in this country in which the majority of the population are […]
The United States and the World: Where Are We Headed?
This paper was presented at the Alexandre de Gusmão Foundation and the International Relations Research Institute’s (IPRI) “Seminar on the United States” hosted by the Itamaraty Palace (Brazilian Foreign Ministry) in Rio de Janeiro, Brazil on September 29, 2008. Introduction The United States appears to be embarking on a transition on two major fronts: its […]
Obama Shares Bush’s Goals
Barack Obama, the Democratic presidential candidate, has adopted the rhetoric of change which has captured the imagination of many Americans and non-Americans around the world. But when it comes to the foreign policy, there are enough reasons to remain sceptical. Will he adopt a foreign policy with objectives which differ from those of George Bush, […]
USAID, Key Weapon in Dirty War on Latin America
In a statement drafted in scrupulously selected terms and circulated with exceptional discretion, the so-called U.S. Aid for International Development (USAID) has publicly confessed to having squandered taxpayers’ money in its dirty war on Cuba. It did so in the face of warnings by certain scandalized congress members and the embarrassing revelations of audits […]
The Truth Suffers in Human Rights Watch Report on Venezuela
On September 18, 2008 Human Rights Watch released a report entitled “Venezuela: Rights Suffer Under Chávez.” The report contains biases and inaccuracies, and wrongly purports that human rights guarantees are lacking or not properly enforced in Venezuela. In addition, while criticizing Venezuela’s human rights in the political context, it fails to mention the […]
Third World: Is Another Debt Crisis in the Offing?
While taking a significant toll on public revenues,1 repayment of the public debt has, since 2004, ceased to be a major concern for most middle-revenue countries and for raw material-exporting countries in general. In fact the majority of governments of these countries are having no trouble finding loans at historically low interest rates. However, the […]
The Machine Gun and the Meeting Table: Bolivian Crisis in a New South America
On Monday, September 15, Bolivian President Evo Morales arrived in Santiago, Chile for an emergency meeting of Latin American leaders that convened to seek a resolution to the recent conflict in Bolivia. Upon his arrival, Morales said, “I have come here to explain to the presidents of South America the civic coup d’etat by Governors […]
Dealing with Iran’s Not-So-Irrational Leadership
Nothing expresses the widening gap between the mind frames of the Iranian ruling elite and their Western counterparts more than the headlines in their respective newspapers. The American media, above all, have unilaterally resolved the intelligence questions over Iran’s nuclear program. The New York Times leads the pack with articles and even editorials that […]
Pakistan Invades America — “Without Permission”
The U.S. State Department lodged a sharp protest over ongoing Pakistani missile strikes and ground raids today, saying the Islamic Republic was violating American sovereignty. “We will try to convince Pakistan . . . to respect [the] sovereignty of the United States — and God willing, we will convince,” State Department Spokesman Sean McCormack told […]
