Global Economy

To Counter US Hostility China Moves Towards People-Centered Policies

September 5, 2021 Moon of Alabama. Create! China, Global Economy, People Centered Human Rights

This development allowed China to make enormous investments in infrastructure. It also generated the resources necessary to eliminate poverty. It is no coincidence that this development happened while the U.S. was wasting money on wars in the Middle East. As the U.S. is now step by step retreating from those wars to confront China the country needs to prepare itself for the new environment.

The Decline Of Western Power

July 21, 2021 Craig Murray, Consortium News. Educate! China, G7 Summit, Global Economy, NATO

The really interesting thing about the G7 summit is that it wasn’t interesting. Nobody expected it to change the world, and it won’t. John Pilger pointed out the key fact. Twenty years ago, the G7 constituted two thirds of the world economy. Now they constitute one third. They don’t even represent most of the world’s billionaires any longer, though those billionaires they do represent — and indeed some of the billionaires they don’t represent — were naturally pulling the strings of these rather sluggish puppets.

Global Food Prices Post Biggest Jump In Decade

June 6, 2021 The Straits Times. Educate! COVID-19, Food and Agriculture, Global Economy, Inflation

London - Global food prices have surged by the biggest margin in a decade, as one closely watched index jumped 40 per cent last month, heightening fears that the inflation initially stoked by pandemic disruption was accelerating. The year-on-year rise in the United Nations Food and Agriculture Organisation's (FAO) monthly index was the largest jump since 2011, as commodity prices surged. The higher inflation will hit poorer countries reliant on imports for staple goods. For richer countries, the cost of raw ingredients accounts for only part of the overall price paid for products at supermarkets and restaurants. But the rise in raw material prices has been so steep that big firms like Nestle and Coca-Cola have said they would pass on any increases.

State Of The World: Poverty Is Widespread

May 31, 2021 Rod Driver, Global Research. Educate! Global Economy, Hunger, Poverty, wealth inequality

The world’s population was about 7.8 billion people in 2020. About 2.2 billion people do not have access to safe drinking water, and over 4 billion do not have safe sanitation.(1) About 800 million suffer from chronic undernourishment. A fifth of all children under 5 suffer from stunted growth.(2) Each year approximately 6 million children and many millions of adults die of easily preventable diseases(3) and 9 million people die of hunger.(4) Some progress has been made on some of these issues, particularly in China. However, things have been getting worse in other regions, such as Africa.(5) Since 1960, the income gap between rich countries and poor countries has roughly tripled in size.

G7 Or Failed Colonial Powers Telling The World What To Do

May 10, 2021 Prabir Purkayastha, Peoples Dispatch. Educate! G7, Global Economy, NATO, Neocolonialism

The Foreign Ministers of G7 countries met in London this week and issued a communique painting Russia as a “malicious actor” and China as a “bully”. It had little substance apart from ticking all the “right” boxes in its anti-China and anti-Russia campaign: Uyghurs, Taiwan, Hong Kong, Crimea, Ukraine, etc. It ended with arrogating to itself the mantle of being the “rules-based international order”, distinct from what the real, lawful international order is, the United Nations and its Security Council. This is why India’s willingness to be a part of “invitees”, to wait in the antechamber with Australia, South Korea and South Africa, while the imperial powers of the G7 decide on the weighty matters of the world, is mystifying. Self-respect would have demanded that if you do not get a seat at the table, do not go, and not wait outside the meeting room.

In Quest Of A Multi-Polar World

March 30, 2021 Michael Hudson and Pepe Escobar, Consortium News. Educate! De-dollarization, Global Economy, Multipolar World, US Imperialism

Fifty ago, I wrote Super Imperialism about basically how America dominates the world financially and gets the free ride. I wrote it right after America went off gold in 1971, when the Vietnam War, which was responsible for the entire balance of payments deficit, forced the country to go off gold. And everybody at that time worried the dollar was going to go down. There’d be hyperinflation. And what happened was something entirely different. Once there was no gold, America strong-armed its allies to invest in U.S. Treasury bonds because their central banks don’t buy companies. They don’t buy raw materials. All they could buy is other central bank’s treasury bonds. So, all of a sudden, the only thing that other people could buy with all the dollars coming in were U.S. Treasury securities.

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