Geopolitical Economy Report How the world can free itself from US financial colonialism: Economist Michael Hudson explains
Aug 6, 2025
Economist Michael Hudson, author of Super Imperialism, dives deep into the mechanisms of US-centered financial colonialism and its detrimental effects on the Global South. He critiques the exploitative nature of institutions like the IMF and World Bank, emphasizing the urgent need for reform and increased representation for these nations. Hudson also discusses emerging alternatives, like BRICS, that seek to challenge traditional financial hegemony. With insights on unmanageable dollar debt and strategies for economic independence, he offers a roadmap for resisting neocolonialism.
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Financial Colonialism and Sovereignty Loss
- Financial colonialism differs from old colonialism by controlling economies through debt and fiscal policy rather than military control.
- Countries lose sovereignty by being forced to borrow and managed by foreign banks, hindering their economic development.
Global South's Neo-Feudal Trap
- U.S. sanctions and international rules block global south countries from industrializing and taxing monopoly rents.
- This enforces a neo-feudal system with foreign landlords extracting rents, denying real economic sovereignty.
U.S. Dominance in Global Institutions
- The U.S. dominates global institutions like the IMF, World Bank, and UN through veto power, enforcing a system biased to Western interests.
- This system is now breaking down as countries seek alternatives to U.S.-centered economic control.
