In May this year at a meeting in Japan, the G7 development finance institution (DFI) decided to create the Ukraine Investment Platform. At the heart of the idea is a good cause – to help rebuild Ukraine. If you look at it from the outside, there is no problem, the development banks, including the European…
The privatization and financialization of everything For centuries the ‘common land’ that was under shared ownership by the people worldwide for the welfare and sustenance of all. However, power hungry groups of early modern times instigated the destruction, and takeover, of the common land, in order to create a culture of dependence in which the…
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…
I wonder just what per cent of the population even knows about Bretton Woods and its implications for the global system. What goes around comes around, and the US and its economic allies, under the guise of the IMF and World Bank, Bretton Woods Entities that emerged in the wake of World War Two, have…
“And thus it renders more and more evident the great central fact that the cause of the miserable condition of the working class is to be sought, not in these minor grievances, but in the capitalistic system itself.” Friedrich Engels, The Condition of the Working Class in England (1845) (preface to the English Edition, p.36)…
The island nation of Sri Lanka, located south-southeast of India in the Indian Ocean has suffered economic and now political chaos that has grabbed international headlines. The Western media has floated narratives ranging from “debt trap diplomacy” perpetrated by China and its Belt and Road Initiative to food shortages spurred by Russia’s “blockade” of the…
