System Update with Glenn Greenwald
South Korean Economist Ha-Joon Chang on the Economic World Order, Trump's Tariffs, China & More
Feb 21, 2025
Ha-Joon Chang, a South Korean economist and author known for his critiques of international economics, dives into the world's financial frameworks. He unpacks the IMF's and World Bank's roles, spotlighting the hypocrisy of rich nations in promoting austerity measures. The discussion also navigates U.S.-China economic rivalry, the impact of tariffs on American industry, and the failures of neoliberal policies that fuel inequality. Chang emphasizes the need for economic literacy to empower democracy against oligopolistic influences.
57:10
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Quick takeaways
- Prof. Ha-Joon Chang criticizes neoliberal economic policies for exacerbating inequalities and restricting developing nations from protective measures used by wealthy countries during their growth.
- The rise of economic powers like China and the BRICS coalition indicates a significant shift towards seeking alternatives to U.S. dollar dominance in the global economy.
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