BRICS Summit: China, Africa, Russia and the 23 New Applicants
The Socialist Program with Brian Becker
00:00
The Impact of Financial Hegemony and the Emergence of New Global Politics
This chapter explores the impact of the US-led Western bloc's financial hegemony on national development, highlighting the desire for state-driven development models in countries like Indonesia. It discusses the failure of IMS and World Bank policies and shifts to the emergence of Russia and China as growing economies. The chapter also examines new vehicles in the global economy such as BRICS and the frustration with the existing system, emphasizing the desire for economic independence and alternative currencies.
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