Asia

Debunking the IMF Myth: South Korea A ‘Free Market Miracle’? – Martin Hart-Landsberg Pt. 1/2
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Debunking the IMF Myth: South Korea A ‘Free Market Miracle’? – Martin Hart-Landsberg Pt. 1/2

Despite being (mis)characterized by the IMF as a free-market “success story,” South Korea’s development model involved state planning and import controls for decades prior to the 1997 East Asia debt crisis. Economist Martin Hart-Landsberg, Professor Emeritus at Lewis and Clark College in Portland, explains how capitalist globalization materialized and morphed in East Asia, often to the detriment of its worker population. With Trump’s inauguration nearing, Hart-Landsberg sheds light on why contemporary U.S.-China hawks view China as a threat rather than a technological competitor. 

How the Left Won Sri Lanka – Devaka Gunawardena Pt. 2/2
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How the Left Won Sri Lanka – Devaka Gunawardena Pt. 2/2

In part two, political economist Dr. Devaka Gunawardena outlines the political dynasties in Sri Lanka that governed the country until the National People Power’s (NPP) recent electoral victory. Gunawardena discusses how NPP leader Anura Kumara Dissanayake has garnered widespread support across different ethnic and class lines despite being a political outsider. 

Historic Victory for Sri Lankan Left – Can They Deliver? – Devaka Gunawardena Pt. 1/2
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Historic Victory for Sri Lankan Left – Can They Deliver? – Devaka Gunawardena Pt. 1/2

In November 2024, Anura Kumara Dissanayake’s National People’s Power (NPP) coalition won a two-thirds majority in Sri Lanka’s general elections, marking a historic win for the Sri Lankan left. NPP’s victory came at a time of prolonged economic crisis exacerbated by the crushing terms of Sri Lanka’s IMF agreement. Political economist Dr. Devaka Gunawardena traces the factors leading to Sri Lanka’s economic woes and how international sovereign bonds (ISBs) held by private equity firms such as BlackRock constitute a large segment of Sri Lanka’s debt. Given the government’s recent private creditor debt restructuring agreement, can the NPP still deliver on its campaign promises of wealth redistribution and reversing austerity? 

Pentagon’s Outrageous Anti-China Operation Threatened Lives in the Philippines – Col. Larry Wilkerson
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Pentagon’s Outrageous Anti-China Operation Threatened Lives in the Philippines – Col. Larry Wilkerson

A recent Reuters investigation uncovered a scandalous Pentagon operation that sought to discredit the Chinese Sinovac vaccine and sow distrust among the population in the Philippines towards China. Col. Larry Wilkerson discusses previous unlawful Strategic Information Operations (SIOs) launched by the Pentagon and the particular depravity of this operation initiated in Spring 2020 under President Trump’s administration, at a time when countries such as the Philippines did not possess their own vaccine manufacturing capacity and were accepting a free supply of vaccines from China. 

How Indian, Chinese, and U.S. Corporations Vie for Control of Sri Lankan Ports – Asoka Bandarage part 2/2
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How Indian, Chinese, and U.S. Corporations Vie for Control of Sri Lankan Ports – Asoka Bandarage part 2/2

Due to its prime geographical location in maintaining global value chains and shipping routes, the U.S., via the U.S. International Development Finance Corporation (DFC), as well as India’s Adani Group and China, are all investing in Sri Lanka’s ports. In part 2, sociologist Asoka Bandarage discusses how many countries and multi-national corporations treat Sri Lanka as testing and dumping grounds, exemplified by reports that the Dali ship, which crashed into the Baltimore Bridge, was carrying hazardous waste to Sri Lanka.

IMF & Private Creditors Subject Sri Lanka to Neo-Colonial Debt Bondage – Asoka Bandarage part 1/2
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IMF & Private Creditors Subject Sri Lanka to Neo-Colonial Debt Bondage – Asoka Bandarage part 1/2

The Sri Lankan government turned to the IMF for a near $3 billion bailout to repay loans provided by India and Japan, as well as international sovereign bonds issued by foreign creditors such as BlackRock. Dr. Asoka Bandarage, sociologist and author of Crisis in Sri Lanka and the World, suggests that Prime Minister Rajapaksa’s declaration of bankruptcy in 2022 and the subsequent IMF bailout under Prime Minister Wickremesinghe was not an absolute necessity, but an attempt to shift Sri Lanka further under the umbrella of Western and Indian institutions, and away from Chinese loans.

Debt and Climate Crisis in Sri Lanka and the World – Asoka Bandarage
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Debt and Climate Crisis in Sri Lanka and the World – Asoka Bandarage

Dr. Asoka Bandarage is an adjunct professor at the California Institute for Integral Studies and the author of a new book, Crisis in Sri Lanka and the World. Sri Lanka has had a minuscule carbon footprint, and yet the country is particularly vulnerable to the effects of climate change, coastal erosion, and flooding. She discusses the convergence of existential climate and debt crises in Sri Lanka, the latter resulting from IMF debt restructuring and the lack of a globally coordinated multilateral sovereign debt mechanism that places traditional and private lenders on an equal footing.

U.S. and China Must Cooperate to Reduce Threat of Nuclear War and Deal With Climate Crisis
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U.S. and China Must Cooperate to Reduce Threat of Nuclear War and Deal With Climate Crisis

Talia Baroncelli and Paul Jay discuss Russian threats to use tactical nuclear weapons against Western Europe and what role China can play in solving the existential crisis of climate and threats of nuclear war—part 2 of 2.

Russian Invasion a War of Aggression – Offer of Ukraine in NATO a Provocation – Paul Jay
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Russian Invasion a War of Aggression – Offer of Ukraine in NATO a Provocation – Paul Jay

Paul Jay and Jyotishman Mudiar, host of India & Global Left, discuss and debate the war against Ukraine and the role of NATO and the US. Jay states, “NATO doesn’t exist to invade Russia. NATO exists to assert American hegemony in Europe.”

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