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Geopolitical Economy Report

NATO/West or Global Majority? Unipolar destruction or multipolar development? The world must choose

Nov 29, 2023
Political economists Radhika Desai and Michael Hudson discuss the fracturing international order between the NATO/West bloc and the Global Majority, analyzing Israel's war on Gaza, Ukraine's defeat in the proxy war against Russia, and the rise of the far-right in Argentina and Europe.
52:49

Podcast summary created with Snipd AI

Quick takeaways

  • The divide between the US-led West and the global majority reflects a clash between financialized capitalism and developmentalist strategies that prioritize the interests of the majority, impacting geopolitics and issues like climate change and supply chain disruptions.
  • The pursuit of hegemony by countries like the US, UK, Australia, and France contradicts the idea of national security, creating insecurity domestically and internationally, while countries like China and Russia challenge Western dominance through initiatives like the Belt and Road Initiative and BRICS.

Deep dives

The Global Majority's Pursuit of Development and Peace

The podcast episode discusses the divergent strategies of the US-led West and the global majority, which includes countries like China and Russia. The West, driven by a financialized capitalism, seeks to maintain hegemony and control over the world, prioritizing the interests of big corporations. This is evident in their pursuit of wars and their exploitation of resources. On the other hand, the global majority focuses on developmentalist strategies that prioritize the interests of the majority, aiming for mutual gain and peaceful coexistence. The episode highlights how this divide is reflected in various geopolitical conflicts, including the war in Ukraine, Israel-Palestine conflict, and tensions between the US and China. It also emphasizes the impact of these strategies on issues like climate change, inflation, and supply chain disruptions. The podcast suggests that the world stands at a significant crossroads, with Western capitalism showing signs of exhaustion and the need for a fundamentally different approach to secure development and peace for the majority.

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