Subjects Archives: Financialization

Economist Michael Hudson details how BRICS could create a mutual settlement currency for payment imbalances among central banks and build an alternative to the financialized neoliberal model of the dollar/NATO bloc.

Orinoco Tribune interviewed U.S. academic Steve Ellner on different issues, ranging from Venezuelan domestic issues to global matters.

One of the major problems faced by Global South countries is that they are saddled with immense debts in dollars, and Western corporations claim ownership over their resources.

The India-Middle East-Europe transportation corridor may be the talk of the town, but it will likely go the way of the last three Asia-to-Europe connectivity projects touted by the west-to the dustbin. Here’s why.

On March 8, 2023, General Laura J. Richardson of the United States (U.S.) Southern Command gave testimony at a congressional hearing wherein she issued a warning to U.S. lawmakers about the expansion of Chinese influence in the Caribbean that were at odds with purported U.S. interests in the region.

Dilemmas of humanity abound. There is little need to look at statistical data to know that we are in a spiral of crises, from the environmental and climate crisis to the crises of poverty and hunger.

India being the host country, the triumphalist tom-toming that G20 summit on September 9-10 was a “success” is both understandable and probably justifiable.

Washington also provided a US$203-million funding for support to transparency and accountability of institutions.

It seemed utterly absurd that, even as the Australian federal government announced its purchase of over 200 tomahawk cruise missiles—because that is exactly what the country needs—there are moves afoot to prune and cut projects conducted by the Australian Antarctic Division (AAD).

AT the Johannesburg summit of the BRICS countries, it was decided to expand the group beyond its original five, namely, Brazil, Russia, India, China and South Africa, to include six more countries.

Once again, the Western media Establishment, and sadly some on the left, are talking up an impending economic disaster in China, when the truth is quite the opposite, argues JOHN ROSS.

The document indicates that the villa was purchased by Zelenskyy’s mother-in-law in May 2023. According to the document, the price of the villa is 150,000,000 Egyptian pounds or approximately $4,850,000.

AS SIGNIFICANT as the fact of BRICS expansion are which countries are now set to join: Iran, Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia and Argentina.

BRICS countries represent 40% of the world’s population and a quarter of the world’s economy, and the group is now considering a possible expansion to more than 20 other countries.

Despite the limitations of the BRICS project, it is clear that the increase in South-South trade and the development of Southern institutions (for development financing, for instance) challenges the neo-colonial system even if it does not immediately transcend it.

The World Bank plans to use public funds to subsidize private finance, ostensibly to mobilize much more capital to address the climate crisis. But the new plan is not the solution it purports to be.

Since the overthrow of Niger’s U.S.-friendly government, West African nations of the ECOWAS bloc have threatened an invasion of their neighbor. Before leading the charge for intervention, ECOWAS chair Bola Tinubu spent years laundering millions for heroin dealers in Chicago, and has since been ensnared in numerous corruption scandals.

MANY economists have been advocating a universal basic income for India, an idea that was mooted even in the official Economic Survey for 2016-17.

While the five original BRICS states have their geopolitical differences, they are finding enormous common ground on the geoeconomic front as trade volumes surge and trade routes multiply.

An interview with longtime activist Savitri Durkee who was a plaintiff in the record-setting class-action lawsuit.