Global economy

Photo by David Dennis/Flickr Henry Heller April 19, 2023 The focal point of the world’s economy is shifting to Asia and Eurasia China’s place on the world stage advances year by year. It is arguably already the world’s largest economy. Its Belt and Road Initiative and its other international links like the BRICS have helped to magnify its economic but also its political and cultural influence worldwide. More and more countries in the Global South are benefiting from these connections and are looking to China for leadership on the basis of mutual benefit. There is every reason to believe these trends will continue. Moreover, we can see that the focal point of the world’s economy is shifting to Asia and Eurasia. Originally published at Canadian Dimension on March 27, 2023 At the same time, geopolitically, we are headed for a multipolar world with no country able to impose itself as a hegemon. Notably, the...

Map Shows Countries That Support Western Govt Sanctions Against Russia vs Those Who Do Not By Krishen Mehta February 22, 2023 In October 2022, about eight months after the beginning of the war in Ukraine, the University of Cambridge in the UK harmonized surveys that asked the inhabitants of 137 countries about their views of the West, Russia, and China. The findings in the combined study are robust enough to demand our serious attention. These findings have caused some surprise and even anger in the West. It’s difficult for Western thought leaders to comprehend that two-thirds of the world’s population is just not lining up with the West in this conflict. However, I believe there are five reasons why the Global South is not taking the West’s side. I discuss these reasons in the short essay below.  Originally published at US-Russia Accord on February 22, 2023 1. The Global South does not...

Dennis Argall February 13th, 2023 The US is at war, and the dollar is at risk of imminent collapse. Australia’s lobbying of the United States as a good ally should focus on these issues above all else. Originally posted on John Menadue’s journal Pearls and Irritations on January 19th, 2023 I am aware that many readers will say oh dear, you must not talk like that. But it’s sensible to discuss the distance to the ground before we jump off the cliff. And a lot has already gone over the cliff. In the narrow spectrum of security, focused on war and peace, the largest problems we cannot afford to ignore right now are as follows: War elements are increasingly out of control, In Europe and elsewhere. Clausewitz was right, war drives out policy and pursues its own ends. We are effectively in a world war, and the barrier to nuclear...

Photo Credit: The Cradle Pepe Escobar February 1, 2023 As Beijing’s Belt and Road Initiative enters its 10th year, a strong Sino-Russian geostrategic partnership has revitalized the BRI across the Global South. The year 2022 ended with a Zoom call to end all Zoom calls: Presidents Vladimir Putin and Xi Jinping discussing all aspects of the Russia-China strategic partnership in an exclusive video call. Putin told Xi how “Russia and China managed to ensure record high growth rates of mutual trade,” meaning “we will be able to reach our target of $200 billion by 2024 ahead of schedule.” On their coordination to “form a just world order based on international law,” Putin emphasized how “we share the same views on the causes, course, and logic of the ongoing transformation of the global geopolitical landscape.” Originally published at The Cradle on 6 January 2023 Facing “unprecedented pressure and provocations from the west,”...

Image: Wikimedia Commons By P&I Guest Writers August 24, 2022 The G-7 countries are democratic domestically but are dictatorial globally. By contrast, the G-20 group, which has many autocratic regimes, represents a more democratic forum for governance. The G-7 is dictatorial, while the G-20 is democratic. This statement is obviously paradoxical. The G-7 countries are very proud of their liberal democratic societies. And they should be. However, while they are democratic domestically, they are dictatorial globally. By contrast, the G-20 group, which has many autocratic regimes, is more representative of the world’s population. The spiritual essence of democracy is conveyed in the phrase: a government of the people, by the people, for the people. In short, it must represent a hundred per cent of the people. The G-7 represent just 10 per cent of the world’s population. Yet, they make decisions and take actions that disrupt the lives of billions of...

Russia says half its gold assets were frozen – is this for real or a slick play by Moscow? Photo Credit: The Cradle Pepe Escobar March 29, 2022 The Russia-led Eurasia Economic Union and China just agreed to design the mechanism for an independent financial and monetary system that would bypass dollar transactions. Originally posted on The Cradle on March 15, 2022 here It was a long time coming, but finally some key lineaments of the multipolar world’s new foundations are being revealed. After a recent video conference meeting, the Eurasian Economic Union (EAEU) and China agreed to design the mechanism for an independent international monetary and financial system. The EAEU consists of Russia, Kazakhstan, Kyrgyzstan, Belarus and Armenia, is establishing free trade deals with other Eurasian nations, and is progressively interconnecting with the Chinese Belt and Road Initiative (BRI). For all practical purposes, the idea comes from Sergei Glazyev, Russia’s...