Global South

How The Global Financial System Traps Countries In Debt

July 12, 2023 Radhika Desai, Michael Hudson and Ann Pettifor, Geopolitical Economy. Resistance Report Debt, Global Economy, Global South, Greed, Inflation, World Bank

So what we were going to talk about is really the Third World debt crisis, the new Third World debt crisis. How similar and how different is it from the one that hit the Third World back in the 1980s? What has been the specific contribution, if any, of the pandemic and the war? And what is the future of the Third World, given that in addition to all the other calamities, it is now hit with this debt crisis? Now, last time we started with a list of seven questions and we only got through the first two. So let me just go through the seven questions and then we will begin with the third question. So the first question was, what was the genesis of the 1980s debt crisis?

Belt And Road Initiative Introduces Key Tenets Of Chinese Philosophy To World

July 6, 2023 Martin Jacques, Orinoco Tribune. Create! Africa, Belt and Road Initiative, China, Diplomacy, Global South, Latin America, US Imperialism

When the Belt and Road Initiative (BRI) was first proposed 10 years ago, along with much anticipation, there was considerable puzzlement. “What is it?” was a widely asked question. And quite reasonably so, because it was like nothing we had seen before. This was no plan with fixed dates. There was nothing concrete. There were no boundaries. There was no end date. In every sense it was open-ended. It was an idea, a concept. It was a totally new and original way of thinking about a project. Furthermore, it was on the hugest of scales, encompassing the great majority of the world’s population.

A New Third World Debt Crisis? The Need For System Change

June 23, 2023 Radhika Desai, Michael Hudson and Anne Pettifor, Geopolitical Economy. Resistance Report Debt, Finance and the Economy, Global South, Inflation, Neoliberalism

Today we are joined by Anne Pettifor to discuss an urgent issue of our time, that of the third world debt crisis. As we record this, this is the topic of the Summit on New Global Financing Pact called by Emmanuel Macron in Paris. And we couldn’t find a more authoritative guest for this show. Anne Pettifor does not really need any introduction, and I’m only going to give one to remind ourselves of the range of her contributions. She’s a prolific writer on issues relating to debt, finance and development, and is also an activist and has intervened in politics to great effect.

Volcanic Eruptions In Mexico And The Dangers Of Fetishizing Natural Disasters In The Global South

May 28, 2023 Tamara Pearson, The Real News Network. Educate! Global South, Media, Mexico, Natural Disasters, Volcano

On Sunday, I came home and washed the volcanic ash out of my hair. My eyes were irritated. I had to wash my clothes and shoes, too. You could see the ash falling in the streets of Puebla, in central Mexico, near the currently erupting Popocatépetl volcano. It looked like snow, but gray. The whole city was coated in light gray, from the roads and trees to the rooftops, benches, and bins. It was all mildly apocalyptic. Ash from the volcano has been falling heavily for a few weeks now, but Sunday was much worse. Nevertheless, many people still had to work outside all day, despite the hazards. The fish and vegetable street vendors were working, a woman was pacing up and down my street selling flower bouquets, the pizza and taco and corn sellers on other nearby corners were working, too.

The Global South Is Trying To Fix The United Nations

May 22, 2023 Ramzy Baroud, MintPress News. Educate! China, Global South, India, UN Security Council

In anticipation of next month’s United Nations Security Council talks on reforming the inherently archaic and dysfunctional political body, China’s foreign policy chief, Yang Yi, stated his country’s demands. “The reform of the Security Council should uphold fairness and justice, increase the representation and voice of developing countries, allowing more small and medium-sized countries to have more opportunities to participate in the decision-making of the Council,” Wang Yi said in a statement on April 29. More specifically, the new UNSC must “redress historical injustices against Africa”.

Can The Global South Build A New World Information And Communication Order?

May 19, 2023 Vijay Prashad, Tricontinental: Institute For Social Research. Create! Communication, Global South, Media, Technology

It is remarkable how the media in a select few countries is able to set the record on matters around the world. The European and North American countries enjoy a near-global monopoly over information, their media houses vested with a credibility and authority inherited from their status during colonial times (BBC, for instance) as well as their command of the neocolonial structure of our times (CNN, for instance). In the 1950s, the post-colonial nations identified the West’s monopoly over media and information and sought to ‘promote the free flow of ideas by word and by image’, as the 1945 Constitution of the United Nations Educational, Scientific, and Cultural Organisation (UNESCO) put it.

G7’s Coercion Claim Against China Slammed As ‘Absurd’

May 19, 2023 Chen Weihua, Friends of Socialist China. Educate! China, Debt, G7, Global South, New Cold War

The United States and its Western allies have been the major perpetrators of economic coercion that have inflicted suffering on millions of people around the world, according to international experts and scholars. G7 leaders meeting in Hiroshima, Japan, from Friday to Sunday are set to issue a statement that includes their concerns about alleged economic coercion by China, Reuters reported, citing unnamed US officials. “The report that the G7 may call out China’s economic coercion is hypocritical given that the US is by far the world’s biggest deployer of unilateral coercive measures,” said Jeffrey Sachs, a Columbia University economist who served as a special adviser to the UN secretary-general from 2001 to 2018.

Hydropolitics: An Interview With Erik Swyngedouw

May 8, 2023 Sanaa Alimia, Red Pepper. Strategize! Global South, Ownership, Politics, The Commons, Water

Water is not, and has never been, a standalone issue. Over the past 20 or 30 years, in a context of increasing concern with access to water in terms of quality, particularly in the global south, there has been an extraordinary amount of activism around water: access, struggle, ownership, etc. What has that done to systematically change the configuration of access to water? Almost nothing. Clearly the highly triaged and uneven access and distribution of water is a major issue. It’s the number one cause of premature mortality in the world. Poor access to water is a concern that many activists share. Something has to be done. But the focus on the specificity of the issue is politically stifling.

Can The US Adjust Sensibly To A Multipolar World?

May 5, 2023 Medea Benjamin and Nicolas J. S. Davies, World Beyond War. Educate! De-dollarization, Global South, Multipolar World, US Empire

In his 1987 book The Rise and Fall of the Great Powers, historian Paul Kennedy reassured Americans that the decline the United States was facing after a century of international dominance was “relative and not absolute, and is therefore perfectly natural; and that the only serious threat to the real interests of the United States can come from a failure to adjust sensibly to the newer world order.” Since Kennedy wrote those words, we have seen the end of the Cold War, the peaceful emergence of China as a leading world power, and the rise of a formidable Global South. But the United States has indeed failed to “adjust sensibly to the newer world order,” using military force and coercion in flagrant violation of the UN Charter in a failed quest for longer lasting global hegemony.

The IMF Debt Trap And How To Get Out Of It

April 30, 2023 People's Dispatch. Resistance Report Debt, Global South, International Monetary Fund, US Imperialism

Political Economist Grieve Chelwa explains the reasons why countries of the Global South are forced to go time and again to the International Monetary Fund for aid. He talks about how the IMF is essentially a tool of US imperialism and how its policies are designed to keep countries in debt. He also talks about the changing nature of debt and the role of private players such as BlackRock. Grieve Chelwa also explains some of the ways countries in Asia and Africa can get out of this situation, and the kind of international frameworks and policies that will have to be constructed. Grieve Chelwa is the Director of Research at the Institute on Race, Power and Political Economy of the The New School, a member of the Collective on African Political Economy, and one of the authors of the dossier, Life or Debt: The Stranglehold of Neocolonialism and Africa’s Search for Alternatives, published by Tricontinental: Institute for Social Research.

Can BRICS Triumph Over The IMF And World Bank?

April 17, 2023 Ramzy Baroud, Mintpress News. Create! BRICS, Debt, Global South, International Monetary Fund

Who would have expected that the BRICS nations could rise as the potential rival of the G7 countries, the World Bank and the IMF combined? But that once seemingly distant possibility now has real prospects which could change the political equilibrium of world politics. BRICS is an acronym for Brazil, Russia, India, China and South Africa. It was supposedly coined by the Chief Economist of Goldman Sachs in 2001 as a reference to the world’s emerging economies. It was then known as BRIC, with the ‘S’ added later when South Africa formally joined the group in 2010. BRIC’s first official summit took place in 2009. T

72% Of UN Security Council Backed Call To Investigate Nord Stream Bombing

April 11, 2023 Roger Stoll, Popular Resistance. Educate! Accountabiity, Global South, Nord Stream Pipelines, United Nations

On March 27, 2023, the UN Security Council (UNSC) failed to pass a Russia-initiated Resolution calling for a UN investigation into the Nord Stream pipeline bombing. Russia’s co-sponsors were the People’s Republic of China, Belarus, the Democratic People’s Republic of Korea, Eritrea, Nicaragua, the Syrian Arab Republic and the Bolivarian Republic of Venezuela. Looking closer at the numbers the result shows a global political divide between rich and non-rich, between “white” states and those “of color,” and between core states on one side and peripheral and semi-peripheral states on the other. This is true even on the Security Council, which represents less than a third of world population (32%).

Countries Worldwide Are Dropping The US Dollar

April 8, 2023 Ben Norton, Geopolitical Economy. Resistance Report De-dollarization, Global Economy, Global South, Multipolar World

The global de-dollarization campaign is gaining momentum, as countries around the world seek alternatives to the hegemony of the US dollar. China and Russia are trading in their own currencies. Beijing and Brazil have also dropped the dollar in bilateral trade. The UAE is selling China its gas in yuan, through a French company. Southeast Asian nations in ASEAN are de-dollarizing their trade, promoting local payment systems. Kenya is buying Persian Gulf oil with its own currency. Even the Financial Times newspaper has acknowledged that a “multipolar currency world” is emerging.

How The Global South Has Risen In The Face Of US Sabotage

April 5, 2023 Lee Camp, Mintpress News. Resistance Report China, Global South, Multipolar World, US Hegemony

Ajamu Baraka is a former U.S. Green Party vice-presidential candidate, a longstanding political activist, and a spokesperson for the Black Alliance for Peace. He joins Lee Camp this week for an interview with “Behind the Headlines.” China’s rise, U.S. meddling worldwide, international resistance to Western domination, and much more are covered in the hour. “It would be unbelievable just a few years ago to see that the Chinese are able to broker an agreement between Iran and Saudi Arabia, that countries in Latin America would actually openly criticize U.S. policies,” Baraka said, discussing signs that global power is shifting away from U.S. hegemony.

China’s Historical Destiny Is To Stand With The Third World

March 31, 2023 Vijay Prashad, Tricontinental: Institute For Social Research. Educate! Belt and Road Initiative, China, Global South, Russia

On 20 March 2023, China’s President Xi Jinping and Russia’s President Vladimir Putin spent over four hours in private conversation. According to official statements after the meeting, the two leaders talked about the increasing economic and strategic partnership between China and Russia – including building the Power of Siberia 2 pipeline – and the Chinese peace initiative for the war in Ukraine. Putin said that ‘many of the provisions of the peace plan put forward by China are consonant with Russian approaches and can be taken as the basis for a peaceful settlement when the West and Kiev are ready for it’.

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