A Summit of Subordinates
For the second time across two terms, US President Donald Trump has walked out of a G7 summit the grouping of dominant countries in the capitalist world. The last time, it was in a fit of pique; this time, it…
Trump’s Tariff Spree could end up Fast-Tracking China’s rise
Early into his second term, US President Donald Trump has lived up to his image of being a Great Disruptor with his across-the-board (country-wise and commodity-wise) increase in tariffs on imports into the US. In the process, he has launched…
Operation ‘Save Capitalism’ in America
If the first month of Donald Trump’s second term as US President is any indication, global capitalism under US hegemony appears to be undergoing an internally driven restructuring. It must be noted that this process, as other restructuring episodes in…
Imperialism’s Revival Strategy
Donald Trump’s foreign policy has left commentators in a real tizzy. His markedly differing positions with regard to Ukraine and Gaza, in the first case apparently pursuing peace, and in the second asking for ethnic cleansing of an entire population,…
Economic Response to US Imperialism
THE imperialist countries led by the US have been imposing unilateral sanctions that do not have any backing from the United Nations against countries that dare to defy their diktat. According to one estimate almost one third of the countries…
The Strengthening of the Dollar
The Indian newspapers have been full of stories about the fall of the rupee vis-à-vis the US dollar in the last few days. Just over a month ago, on November 27, the value of the dollar was Rs 84.559; by…
Trump’s Threat of a Tariff Wall
Donald Trump is threatening to use tariffs as a weapon against other countries. He has already made three threatening statements: first, he threatened the BRICS countries that if they dared to move away from the dollar, then they would have…
The Hegemony of the Dollar
Kliberal opinion holds that the international monetary and financial system is a device for promoting the interests of all participating countries by providing a convenient payments arrangement within which trade can be carried on. The reality however is altogether different:…
Neoliberalism and before
Karl Marx had once said that all criticism must begin with the criticism of religion. Paraphrasing Marx one can say in the current economic context that all criticism must begin with the criticism of the GDP. This conceptually and statistically…
The COP29 Collapse
Extended by a day in a show of symbolism, this year’s climate summit, the 29th Conference of Parties (COP29), ended in collapse. The widespread consensus that this was the case concealed, however, differences as to what reflected the collapse. Developed…