Global South

IMF Warns Of ‘Wave Of Debt Crises’ Coming In Global South

November 14, 2022 Ben Norton, Multipolarista. Educate! Debt, Global Economy, Global South, International Monetary Fund

The International Monetary Fund (IMF) has said a “wave of debt crises” may be coming in the Global South, and “the global economy is headed for stormy waters,” as the world faces a “geopolitical realignment” that will be “permanent.” The US-dominated financial institution warned “the worst is yet to come,” as the depreciation of most currencies against the dollar and rising interest rates make it hard for both governments and companies to service their dollar-denominated debt. The director of the IMF’s research department, Pierre‑Olivier Gourinchas, made these comments in a press briefing on October 11. Countries comprising a third of the entire global economy are expected to contract in 2022 or 2023, he prognosticated. “In short, the worst is yet to come; and for many people, 2023 will feel like a recession,” he said.

At COP27, Global South Calls On North To Get Serious About Climate Funding

November 12, 2022 Tanupriya Singh, People's Dispatch. Create! climate crisis, COP27, Global South, Loss and Damage

As the UN climate change conference COP27 progresses in the Egyptian city of Sharm el-Sheikh, Wednesday, November 9, was observed as “Finance Day.” Climate financing for adaptation and mitigation, as well as funding for enduring Loss and Damage caused by adverse impacts of the climate crisis, have occupied center stage at this year’s summit. Loss and Damage funding is officially included on the agenda for the first time in COP history, albeit with important caveats and not without struggle. “This item and the outcomes thereof are without prejudice to the consideration of similar issues in the future,” reads a footnote to the agenda item. The outcomes do not involve liability or compensation, and include the Glasgow Dialogue on Loss and Damage – a three-year process established at COP26 after the US and the European Union (EU) blocked a stronger and much more urgent proposal by the G77 and China for a Loss and Damage (financial) Facility (LDFF) as part of the summit’s Financial Mechanism.

How Europe Is Destroying Its Own ‘Garden’

November 9, 2022 Ramzy Baroud, Mintpress News. Educate! Europe, Global South, Racism, White Supremacy

The European Union’s Foreign Policy Chief Josep Borrell is not particularly perceived by the EU’s political elite or mainstream media as a rightwing ideologue or warmonger. But seen through a different, non-western prism, it is hard not to mistake him for one. Borrell’s recent comments that “Europe is a garden” and that “the rest of the world is a jungle” were duly condemned as ‘racist’ by many politicians around the world, but mostly in the Global South. Borrell’s remarks, however, must also be viewed as an expression of superiority, not only of Borell personally, but of Europe’s ruling classes as a whole. Particularly interesting about the EU top diplomat’s words are these inaccurate depictions of Europe and its relationship with the rest of the world: “We have built a garden”, “everything works” and “the jungle could invade the garden”.

We Need A New Trade Union Of The Poor Rooted In The Global South

October 28, 2022 Vijay Prashad, Tricontinental: Institute for Social Research. Create! Europe, Global South, Poverty, Rishi Sunak, United Kingdom (UK)

Chaos reigns in the United Kingdom, where the prime minister’s residence in London – 10 Downing Street – prepares for the entry of Rishi Sunak, one of the richest men in the country. Liz Truss remained in office for a mere 45 days, convulsed as her government was by a cycle of workers’ strikes and the mediocrity of her policies. In her mini budget, which doomed her government, Truss opted for a full-scale neoliberal assault on the British public with both tax cuts and unacknowledged cuts to social benefits. The policies startled the international financial class, whose political role emerged clearly as wealthy bondholders indicated their loss of faith in the UK by junking government bonds, thereby increasing the cost of government borrowing and raising the mortgage payments for homeowners.

EU Admits New Cold War Is Not ‘Democracy Vs. Autocracy’

October 28, 2022 Ben Norton, Multipolarista. Resistance Report China, European Union (EU), Global South, New Cold War

The European Union’s top foreign-policy official, Josep Borrell, admitted that the new cold war that the West is waging on China and Russia is not a conflict of “democracies vs. authoritarians.” “On our side, there are a lot of authoritarian regimes,” the EU’s de facto foreign minister conceded. Borrell’s comments directly contradicted those of US President Joe Biden, who claimed in his first State of the Union address in March that the new cold war is a “battle between democracy and autocracies.” The top EU diplomat instead recognized that the new cold war is a struggle in which economic “systems are in rivalry,” and that most of the Global South “do not want to be forced to take sides in this geopolitical competition,” because “they feel that the global system does not deliver,” and “because they blame us.”

In Bangladesh, Concerns Mount Over Mass Displacement And Climate Change

October 18, 2022 People's Dispatch. Educate! Bangladesh, climate crisis, Food and Agriculture, Global South

Rising sea levels and extreme flooding in Bangladesh are devastating lives and livelihoods. This year, floods in Bangladesh killed more than 100 people and, according to AFP, eroded at least 1,800 hectares (4,500 acres) of land according to estimates by Bangladesh’s Center for Environmental and Geographic Information Services (CEGIS). The homes of at least 10,000 people were also affected. Totally, as many as 7.2 million have been affected by the floods, as per the International Federation of Red Cross (IFRC) and Red Cross Societies, and nearly half a million had to flee their homes and take refuge elsewhere as water levels rose this summer. As per a report published by the Intergovernmental Panel on Climate Change (IPCC) in February, climate change is also severely impacting the country’s food production. According to *New Age Bangladesh,* the report points with alarm to the “declining production” of basic food grains such as rice and wheat, by 12-17% and 12-61%, respectively, by “mid-century.”

Chris Hedges Report: Dystopia, Octopus Intelligence And What Makes Us Human

October 8, 2022 Chris Hedges, The Real News. Resistance Report Chris Hedges, climate crisis, Global South, Worker Rights

Ray Nayler’s novel The Mountain in the Sea asks the kinds of questions about us, our future and our interaction with other living beings that are raised by many great works of science fiction. In his book the marine habitat of a hyperintelligent species of octopus, endowed with its own language and culture, is seized by a global tech corporation determined to harness this non-human intelligence for profit in new systems of artificial intelligence. This dystopian future world is one of total surveillance, vast polluted dead zones, climate breakdown, a pervasive alienation, frequent targeted assassinations by governments and corporations against those who resist bondage as well as the brutal enslavement of workers, especially those from the Global South.

COP27 To Be Held In Egypt Amid Global Challenges

September 24, 2022 Abayomi Azikiwe , Black Agenda Report. Educate! Africa, climate crisis, COP27, Global South

African nations are preparing for the United Nations Climate Conference (COP27) scheduled to take place in the Egyptian resort area of Sharm-el-Sheikh from November 6-20. This gathering is taking place during a period of rising uncertainty due to burgeoning food deficits along with the crisis of accumulation and distribution related to agricultural products in general. Energy costs have skyrocketed due to several important factors including the Pentagon-NATO war in Ukraine; the failure of the United States government to curtail inflation through price controls utilizing higher taxation rates against corporations; and the continuing impact of the COVID-19 pandemic which disrupted production and supply chains internationally. The last quarter of 2022 will be marked by increased military spending and a further decline in investor confidence due to the overall downturn within stock markets around the world.

87% Of World Doesn’t Support West’s New Cold War On Russia

September 23, 2022 Ben Norton, Multipolarista. Resistance Report Global South, New Cold War, Russia, US Imperialism

Two former US diplomats have acknowledged that the vast majority of the global population does not support the West’s new cold war on Russia. In a Newsweek op-ed titled “Nearly 90 Percent of the World Isn’t Following Us on Ukraine,” ex diplomats Michael Gfoeller and David H. Rundell wrote: While the United States and its closest allies in Europe and Asia have imposed tough economic sanctions on Moscow, 87 percent of the world’s population has declined to follow us. Economic sanctions have united our adversaries in shared resistance. Less predictably, the outbreak of Cold War II, has also led countries that were once partners or non-aligned to become increasingly multi-aligned. They acknowledged that new multilateral institutions like the Shanghai Cooperation Organization and the BRICS are growing, and offer new opportunities for countries in the Global South.

Protests Throughout The Global South Signal Opposition To Austerity

September 12, 2022 Sam Carliner, Left Voice. Resist! Austerity, Global South, International Solidarity, Mass Action

It has now been two months since tens of thousands of Sri Lankans stormed the presidential palace and toppled the country’s president in a powerful rejection of price hikes on food and fuel. As shocking and inspiring as the news was, many economists and geopolitical experts were quick to point out that Sri Lanka would not be the last country to experience a mass-uprising. Around the world, the policies of the neoliberal era are straining economies as the neoliberal system is pitched into crisis after crisis. In the last several years, these crises have been fueled by supply chain disruptions from the pandemic, the war in Ukraine, and rapidly worsening climate change.

Barred From The Climate Conversation

September 11, 2022 Serag Heiba, Resilience. Educate! climate crisis, COP 27, Environment, Environmental racism, Global South

When Kelo Uchendu prepared for this year’s Bonn Climate Change Conference (SB56), it had been three years since his previous application for the German visa was rejected. At the time, he was the only African student selected from a cohort of engineers to attend a career-advancing programme in Dresden. That visa rejection was costly and devastating, but he did not remain idle. He founded a climate justice organisation in his home country of Nigeria to advocate for clean air, began pursuing postgraduate studies and joined the organising team of Mock COP26. He would arrive in Bonn as the policy co-lead of the UNFCCC youth constituency knowing that his hard work has finally paid off.

Deciphering The Chinese Economic Miracle

June 24, 2022 Friends of Socialist China. Create! China, Finance and the Economy, Global South

The “Chinese miracle” has become a widely used term in development studies, inspiring developing countries to achieve high levels of prosperity, living standards, and stability over the last decade. The popularity of this term can be explained in large part by the fact that China has enjoyed unprecedented economic success in world history (Zakaria, 2011; Gürcan 2021a), despite enormous historical, demographic, geographical, and geopolitical adversities. China was one of the world’s poorest countries before the socialist revolution in 1949. In the early revolutionary era, China struggled much to overcome its crippling semi-colonial legacy characterized by the medieval conditions of an agricultural economy and the weakness of its industrial base. History aside, China is the largest country by population size, which currently accounts for 22% of the world’s population.

Only Four Of 55 African Leaders Attend Zelensky Call

June 23, 2022 Ben Norton, Multipolarista. Resist! African Union, Global South, Ukraine, Volodymyr Zelensky

Western governments have tried to rally the nations of Africa to join their war on Russia. But the vast majority of the continent has ignored their pressure campaign. For months, Ukraine attempted to organize a video conference between the African Union and Western-backed leader Volodymyr Zelensky. France and Germany put heavy pressure on African governments to attend the Zoom call, which was held on June 20. The conference ended up being a total failure, however. The heads of state of just four of the 55 members of the African Union joined the meeting. In other words, 93% of the leaders of the African continent did not attend the video conference with Zelensky. This was a clear sign of Africa’s overwhelming neutrality in the proxy war between the West and Russia.

Summit Of The Americas Is Shaping Up To Show US Has Become Isolated

May 14, 2022 Andrew Korybko, OneWorld. Educate! Global South, Latin America, Summit of the Americas, US Imperialism

US observers are becoming increasingly worried that next month’s Summit of the Americas in Los Angeles is about to be one of the Biden Administration’s worst-ever foreign policy embarrassments following last August’s chaotic evacuation from Afghanistan. Politico headlined a piece about how “Biden’s Americas summit is drawing jeers and threats of boycott”, which reported that several Latin American leaders are threatening to boycott the event if Cuba, Nicaragua, and Venezuela aren’t invited to attend. While Antigua, Barbuda, and Bolivia might not be a big deal in the grand scheme of US strategy towards the hemisphere, Brazil and Mexico’s abstention would make the event utterly meaningless since they alone count for half of the region’s population as Politico reminded their audience.

Why Latin America Needs A New World Order

May 11, 2022 Marco Fernandes, People's Dispatch. Create! Global South, Latin America, NATO, New Cold War, Peace

The world wants to see an end to the conflict in Ukraine. The NATO countries, however, want to prolong the conflict by increasing arms shipments to Ukraine and by declaring that they want to “weaken Russia.” The United States had already allocated $13.6 billion to arm Ukraine. Biden has just requested $33 billion more. By comparison, it would require $45 billion per year to end world hunger by 2030. Even if negotiations take place and the war ends, an actual peaceful solution will not likely be possible. Nothing leads us to believe that geopolitical tensions will decrease, since behind the conflict around Ukraine is an attempt by the West to halt the development of China, to break its links with Russia, and to end China’s strategic partnerships with the Global South.

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