On finance, real estate and the powers of neoliberalism
Both Richard D Wolff & Michael Hudson emphasized that this summit, while not conclusive, sets the stage for potential long-term transformation in international power dynamics, with BRICS working to shape an order that may increasingly diverge from Western influence.
In this interview, economists Michael Hudson and Richard Wolff discuss the U.S.’s influence on Israel and the broader Middle East, arguing that America’s actions undermine the sovereignty of other nations. They assert that the U.S. uses Israel as a tool to maintain control over the region, particularly its oil resources, and prevent countries like Iraq and Libya from achieving true independence. They also highlight the selective use of “sovereignty” in global politics, pointing out that while Palestine is denied recognition, Israel operates with American military and financial backing. Hudson and Wolff further compare Israel’s settler-colonialism to historic land grabs, suggesting parallels with Nazi Germany’s Lebensraum and criticizing Western media for complicity in promoting distorted narratives.
Explore how U.S. influence shapes Israel’s role in the Middle East conflict, challenging notions of sovereignty in a broader global war involving NATO, Palestine, and BRICS nations like China and Russia.
“I don’t think there were any non-Jewish Americans that had that visceral hatred of Islam that the Zionists had, or also the visceral hatred of Russia, specifically for anti-Semitism of past centuries, most of which was in Ukraine and Kiev, by the way.
Well, that was 50 years ago, and these sanctions that Jackson introduced, the U.S. Trade, became the prototypes for today’s sanctions against all the countries that the neo-cons viewed as adversaries.”
This episode of the Global Economy Hour discusses that the U.S., under the guise of promoting “freedom,” is enforcing policies that undermine European sovereignty, especially in relation to energy dependence and trade with Russia and China. The irony of Western sanctions and coercion, which have not only failed to weaken targeted countries but have also fostered stronger alliances between nations like Russia, China, and members of BRICS, has countered Western attempts at domination.
The decline of U.S. global dominance is reshaping international alliances. As U.S. neoliberal policies and military actions continue to alienate nations, countries like China, Russia, and Iran are forming strategic coalitions. Driven by economic self-interest, these nations are pushing back against the U.S. hegemony, creating a new global order. The U.S. has underestimated this retaliation, failing to recognize the shifting power dynamics. This Dialogue Works interview explores how America’s economic and military aggression is leading to a surprising global backlash, with other nations working together to protect their interests and resist U.S. influence.
