In These New Times

A new paradigm for a post-imperial world

Putin: Nyet to Neo-liberals, Da to National Development

Posted by seumasach on August 19, 2016

F.William Engdahl

New Eastern Outlook

2nd August, 2016

After more than two years of worsening economic growth and an economy struggling with 10.5% central bank interest rates that make new credit to spur growth virtually impossible, Russian President Vladimir Putin has finally broken an internal factional standoff. On July 25 he mandated that an economic group called the Stolypin Club prepare their proposals to spur growth revival to be presented to the government by the Fourth Quarter of this year. In doing so, Putin has rejected two influential liberal or neo-liberal economic factions that had brought Russia into a politically and economically dangerous recession with their liberal Western free market ideology. This is a major development, one I had been expecting since I had the possibility to exchange views this June in St. Petersburg at the annual St. Petersburg International Economic Forum.

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Could Trump pull off a post-party coalition?

Posted by seumasach on August 19, 2016

I think this is a credible outline of the Trump agenda: it ties in with the Brexit agenda and the emergence of an anti-China front which curiously replicates the Oceania of Orwell’s 1984. Essentially, it envisages a reconstruction policy without engagement with China. It is extremely questionable that such an Listian economic nationalist program can work in today’s conditions. It presupposes that capital goods and commodities can be imported for an ever devalued dollar. It presupposes that the USA still possesses the skills base and the national ethos for such a program, that it can accept sacrifice and a massive shift from consumer to capital spending. It presupposes that the US financial system can be adapted to productive capital investment and that the managerial, bureaucratic basis for a centrally directed economy can be put in place. And, above all, it presupposes that oligarchical interests can reconcile themselves to the dirigiste model which has hitherto been a taboo, that the political conditions for a latter-day New Deal exist. Is this, in the end, the last illusion of a USA which is rejecting a globalisation which it no longer controls?

Pepe Escobar

Sputnik

17th August, 2016

Hillary Clinton, Queen of Chaos, Queen of War, Golden Goldman Girl, for all practical purposes is by now the official bipartisan candidate of US neocons and neoliberalcons alike.

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Hello, want to push back at Uncle Sam? Then go to Syria

Posted by seumasach on August 19, 2016

M.K.Bhadrakumar

Asia Times

18th August, 2016

 

Turkish President Recep Erdogan’s recent visit to St Petersburg to meet Russian President Vladimir Putin, Russian jet fighters taking off from an Iranian base for the first time to hit Syrian targets and Erdogan’s proposed visit to Iran probably next week point to a trilateral Turkey-Iran-Russia format emerging on Syria. China seems to be entering the equation laterally as indicated by top military officer Rear Admiral Guan Youfei’s meeting with Syrian Defense Minister Fahad Jassim al-Freij in Damascus. Turkey, Iran, Russia and China have a shared interest or even need to push back at the US, each for its own reasons.

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Turkey harmonises with Russia, Iran on Syria

Posted by seumasach on August 17, 2016

M.K.Bhadfrakumar

Indian Punchline

15th August, 2016

The reported remarks Monday by Turkish Prime Minister Binaldi Yildirim regarding a 3-step road map for ending the Syrian conflict would be the latest indication that Ankara is tiptoeing toward restoring Turkish-Syrian relations at the diplomatic and political level.

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Will China change the rules of global order?

Posted by seumasach on August 17, 2016

This article gives an excellent overview of both China’s global strategy and systemic conflicts with the Western model. The authors correctly, in my view, identify the relationship of the financial system to the state as being at the heart of these systemic differences:

“To take one specific example, in Western economic thought, banks are seen as intermediaries between borrowers and lenders. Traditionally in Asia, however, banks are seen as instruments of state-directed growth and industrialization which take deposits and then use the savings through preferential allocation of credit to drive development in predetermined priority sectors of the economy.17 China’s People’s Bank, Ministry of Finance, and major policy banks, such as the China Development Bank and the State Export-Import Bank, have worked with their southern counterparts on how to become “responsible borrowers,” and how to identify and structure revenue and surplus-generating projects so that a stable supply of funds is available to repay loans.18 Chinese experiences on public financial and fiscal management are a core component in the curriculum of this government-to-government training.”

They also show great prescience in identifying the policy shift now crystalising out of Obama’s “pivot to Asia”:

 “China, however, should be mindful that, just as it can hedge, so can the West and its likely Asian partners such as India and Japan. A reversion to an old- fashioned “balance-of-power” scenario would be unfortunate for all, especially if absent effective coordination mechanisms between the paramount powers.”

They could have added South America, South Africa, Australia and the UK as being drawn into an anti-China reaction or , at least, being strongly pressured in that direction.

Gregory Chin and Ramesh Thakur

October, 2010

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The rising power of China will create new political fissures in the west

Posted by seumasach on August 17, 2016

Raising the spectre of a Chinese “security”threat is, of course, merely a pretext. Our hostility to China becomes China’s imagined hostility to us. The real issue is systemic: China’s financial system is subordinate to the state whereas our state is subordinate to the financial system. All this has been accentuated post-Brexit: at the same time as we shut out China we are directing more of our own resources to bailing out the financial sector.

Guardian

13th August, 2016

Whether he wins or loses the US presidency next November, Donald Trump has already come up with one of the defining slogans of 2016 – “Make America great again”.

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China warns ‘protectionist’ Australia on investment

Posted by seumasach on August 17, 2016

Asia Times

SYDNEY/BEIJING (Reuters) – Australia’s decision to block the A$10 billion ($7.7 billion) sale of the country’s biggest energy grid to Chinese bidders was a protectionist move that would negatively affect investment in the country, China’s Ministry of Commerce said on Wednesday.

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Propaganda: the Chinese are expansionists

Posted by seumasach on August 15, 2016

Voltairenet

14th July, 2016

The Court of Arbitration (the PCA) at the Hague ruled in favour of the Philippines in its case against the People’s Republic of China, rejecting Chinese territorial claims over the Spratly Isles in the South China Sea.

For the Western Press, this is a sign that the United States is right to denounce Chinese expansionism.

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Russia, US edging nearer to agreement on Alleppo

Posted by seumasach on August 15, 2016

PressTV

15th August, 2016

Russian military officials say Moscow is close to reaching an agreement with Washington on how to coordinate fight against militants in Syria’s war-ravaged city of Aleppo.

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Why China-bashing prevails in US politics

Posted by seumasach on August 13, 2016

Sputnik News

13th August, 2016

Ahead of the upcoming presidential elections in the US, New York-based political analyst Caleb Maupin shares his vision on some of American foreign policy issues, such as relationship with China: he is convinced that no matter who wins, the President elect will be assigned the task of intensifying the confrontation with Beijing. And here is why.

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The Brexiteer’s export argument is ‘unsophisticated’

Posted by seumasach on August 13, 2016

In fact, we’ve already been there: back in the last crisis the pound fell to as low as 1.05 euro without leading to a surge in exports. On the one hand the UK’s manufacturing base is depleted and on the other, as emphasized here, it is intertwined with production elsewhere. Interconnectedness makes a nonsense of Brexit which probably why in the end it will never happen. Isolationism is not an option and isolationist sentiment is merely a rejection of globalization which is no longer comfortably on our terms.

Business Insider

11th August, 2016

The argument by the pro-Brexit lobby that the fall in the pound would boost UK exports is “unsophisticated,” says Credit Suisse.

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