Archives Economic development - Page 34 of 35 - New Eastern Outlook

All over the world, when dealing with developing nations, the economic giants of the West continue to adhere to their normal neocolonial policies. The tendency to treat sovereign states as colonies and sources of raw materials, ripe for asset stripping by Western capitalists, is particularly marked in the case of Mongolia, which has a relatively small population but significant mineral wealth, which, even during the colonial period, was not directly exploited by the Western powers. It therefore serves as a fairly rare illustration of a new predatory phase in the West’s economic expansion, which began around…

In recent years, many journalists have tended to be skeptical about the role played by the World Economic Forum in driving contemporary global political processes. The WEF is better known by the name of the town that hosts its plenary meetings, Davos, in Switzerland. A few years ago, when “world government” conspiracy theories were popular, the WEF was frequently listed among shadowy and exclusive membership groups as the Bilderberg Group and the Club of Rome which, supposedly, took decisions of major global significance. At this stage, a few observations may be in order. First of all, it is true that the real global powers in today’s world are losing interest in the Davos Forum. In the author’s view, this interest peaked at the January 2017 meeting of the WEF, at which the Chinese leader Xi Jinping was the chief guest…

In recent months, the USA has stepped up efforts to discredit the New Development Bank (NDB), which, in addition to the five BRICS countries, includes Egypt, Bangladesh, and the UAE, while about 20 other countries are candidates to join. The reason for this activity on the part of Washington is simple and clear. The Americans want to slow down the process of forming an alternative global financial infrastructure. China is working to shift its commerce away from the dollar and has absolutely no intention of stopping…