Economy

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

ByTalia Baroncelli

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

ByTalia Baroncelli

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.

Seeking Full Employment Without Falling Prey to Neoliberal Traps

Seeking Full Employment Without Falling Prey to Neoliberal Traps

ByLynn Fries

William Mitchell exposes the many ideological maneuvers progressives need to confront in disputing the supremacy of profits over employment and people’s dignity. That goes for disciplining the state to appease foreign exchange markets, the problems with Basic Income proposals, and much more. Lynn Fries interviews William Mitchell on GPEnewsdocs.

Global Upheaval Undermining Food Security – Matin Qaim

Global Upheaval Undermining Food Security – Matin Qaim

ByTalia Baroncelli

Matin Qaim, Director of the Center for Development Research at the University of Bonn, examines the various aspects comprising food security, namely local and global supply chains, the generation of income for local farmers, investments in the production of nutritious foods, as well as accounting for climate externalities. Attaining food security has become even more difficult given the disruptions around the pandemic, rising inflation, and the failed Black Sea grain deal. He asserts that small-scale farming and agroecological approaches are not necessarily low-tech and that certain technologies, if applied correctly, can assist smallholder farmers.

Non-Aligned Movement +G77 (Group of Developing Countries) versus G7+NATO+OECD+World Economic Forum
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Non-Aligned Movement +G77 (Group of Developing Countries) versus G7+NATO+OECD+World Economic Forum

ByLynn Fries

Jomo K.S. warns U.S. policies are driving the world towards war and depression, leaving developing countries with a strong vested interest to reconvene a new non-aligned movement and strengthen democratic institutions of global governance. Lynn Fries interviews Jomo K.S. on GPEnewsdocs.

Part 2: Debt and the Collapse of Antiquity – Michael Hudson
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Part 2: Debt and the Collapse of Antiquity – Michael Hudson

ByColin Bruce Anthes

In part two, Michael Hudson discusses his new book “The Collapse of Antiquity.” Hudson challenges the traditional beliefs about the fall of the Roman Empire, arguing that it was caused by a financial crisis brought on by excessive debt, wealth inequality, and the concentration of economic power. Hudson draws parallels to modern-day economies and highlights the dangers of financialization and wealth concentration.

Debt and the Collapse of Antiquity – Michael Hudson (pt 1/2)
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Debt and the Collapse of Antiquity – Michael Hudson (pt 1/2)

ByColin Bruce Anthes

We get a first look at the new book by renowned political economist Michael Hudson on the age-old battle between creditors and the real economy. Ancient Rome refused to adopt the practices of debt forgiveness and land redistribution previously understood to be essential. Instead, they instituted a rigid pro-creditor legal system, assassinating anyone who remotely threatened it–including Tiberius Gracchus, Julius Caesar, and Jesus. The empire devolved into a rentier economy, ultimately collapsing from within. Today’s neoliberal establishment increasingly defends this failed state framework, even as the same disastrous dynamics intensify.

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