{"id":118428,"date":"2024-10-26T03:03:09","date_gmt":"2024-10-25T20:03:09","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=118428"},"modified":"2024-10-26T03:03:09","modified_gmt":"2024-10-25T20:03:09","slug":"brics-breakthrough-economists-richard-wolff-patrick-bond-on-growing-alliance-challenge-to-u-s","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=118428","title":{"rendered":"BRICS Breakthrough? Economists Richard Wolff &#038; Patrick Bond on Growing Alliance, Challenge to U.S."},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<p>This is a rush transcript. Copy may not be in its final form.<\/p>\n<div>\n<p><strong><span class=\"caps\">AMY<\/span> <span class=\"caps\">GOODMAN<\/span>:<\/strong> This is <em>Democracy Now!<\/em>, democracynow.org, <em>The War and Peace Report<\/em>. I\u2019m Amy Goodman.<\/p>\n<p>We end today\u2019s show with the summit of <span class=\"caps\">BRICS<\/span> nations that concluded Thursday in the Russian city of Kazan as President Putin made a comeback to the global stage, hosting 36 world leaders and representatives from countries including China, India, South Africa, Iran, even Palestine. Israel\u2019s war on Gaza took center stage, with many heads of states demanding an immediate ceasefire. Putin also faced direct calls at the summit from some of Russia\u2019s most important allies for Moscow to end the war in Ukraine.<\/p>\n<p>Meanwhile, the <span class=\"caps\">BRICS<\/span> coalition, which was founded by Brazil, Russia, India, China and South Africa, officially added 13 new nations to the alliance as partner countries, including Bolivia, Cuba, Nigeria and Turkey.<\/p>\n<p>For more, we\u2019re joined by two guests. Here in New York, Richard Wolff, professor of economics emeritus at the University of Massachusetts Amherst, visiting professor in the Graduate Program in International Affairs at The New School, founder of Democracy at Work, author of several books, including, most recently, <em>Understanding Capitalism<\/em>. And in Johannesburg, South Africa, we\u2019re joined by the political economist Patrick Bond, distinguished professor and director of the Centre for Social Change at the University of Johannesburg, his recent <em>CounterPunch<\/em> <a href=\"https:\/\/www.counterpunch.org\/2024\/10\/20\/rising-dangers-of-imperial-and-sub-imperial-partnering\/\">article<\/a> headlined \u201cRising Dangers of Imperial and Sub-Imperial Partnering.\u201d<\/p>\n<p>We\u2019re going to begin with you, Patrick. Talk about the significance of this <span class=\"caps\">BRICS<\/span> summit.<\/p>\n<p><strong><span class=\"caps\">PATRICK<\/span> <span class=\"caps\">BOND<\/span>:<\/strong> I must quickly say thank you for having me. But also, in 10 or 11 days, you may know whether the great teams at Democracy at Work and <em>Democracy Now!<\/em> need to be in exile because democracy won\u2019t be allowed. And you\u2019ll come to Johannesburg, and we\u2019ll have a very fine site for your production systems. It\u2019s a great address here at the moment.<\/p>\n<p>And I think the fact that we had the <span class=\"caps\">BRICS<\/span> summit\u00a0just 14 months ago \u2014\u00a0I was chatting and debating with Vijay Prashad, along with my colleague Trevor Ngwane. And it means that in the current period, where the de-dollarization rhetoric coming up to this <span class=\"caps\">BRICS<\/span>, because Russia hosting it and being shut out of the <span class=\"caps\">SWIFT<\/span> system, having $600-and-some billion seized illegally by the Western banks, and not getting loans, even from the <span class=\"caps\">BRICS<\/span> New Development Bank, suffering sanctions, that meant a lot of attention has been on whether Vladimir Putin and his team can generate a de-dollarization strategy. Unfortunately \u2014\u00a0and fortunately, that didn\u2019t transpire.<\/p>\n<p>And then, since we\u2019ve just come out of the Israeli genocide story, not using genocide in the Kazan Declaration on Wednesday night, not calling for sanctions, even though the United Nations General Assembly effectively did last month, and not acknowledging that nine out of the 10 <span class=\"caps\">BRICS<\/span> countries have very profitable relationships, like South Africa, number one coal exporter to Israel, and China and India having companies that run the Haifa Port, you could turn those off and really put pressure on Israel if they really had the guts. But we see them talking left, walking right.<\/p>\n<p><strong><span class=\"caps\">AMY<\/span> <span class=\"caps\">GOODMAN<\/span>:<\/strong> And, Richard Wolff, your takeaway from this <span class=\"caps\">BRICS<\/span> summit? How historic was it?<\/p>\n<p><strong><span class=\"caps\">RICHARD<\/span> <span class=\"caps\">WOLFF<\/span>:<\/strong> In my judgment, and even though Patrick is right about a number of his criticisms, this is a historic turning point. I cannot overstress it. Here we have, for the first time in a century, a serious economic competitor to the United States and its role in the world. We\u2019ve never seen this before in the lifetimes you, me and the people watching this program and listening to it. Here are a group of countries that together have a larger <span class=\"caps\">GDP<\/span>, a greater production, than the G7, the United States and its allies. We haven\u2019t had that before. And the gap between them is growing. The economic growth of the United States this year, by the <span class=\"caps\">IMF<\/span>, is scheduled to be 2.8%; in China, 4.8%; in India, 7%. So, they are growing faster than we are. They\u2019ve been doing it for decades. It is a new economic world. And as an economist and an American, I am aghast that our presidential election isn\u2019t putting that front and forward.<\/p>\n<p>This is a new world. Everybody else in the world is adjusting to this reality. The American Empire and our system is in a decline relative to what the <span class=\"caps\">BRICS<\/span> are about. Are there problems among them? For sure. Do they have their faults? Absolutely. This is not good and bad, but it is a radical alteration. And if we continue as a nation to pretend it isn\u2019t happening or it isn\u2019t important, we will continue to make big strategic mistakes, not the least of which is to bring us into a war kind of situation that people are already sensing might be in the air.<\/p>\n<p><strong><span class=\"caps\">AMY<\/span> <span class=\"caps\">GOODMAN<\/span>:<\/strong> I want to go to Vladimir Putin, the president of Russia, for his comments at the <span class=\"caps\">BRICS<\/span> summit.<\/p>\n<blockquote>\n<p><strong><span class=\"caps\">PRESIDENT<\/span> <span class=\"caps\">VLADIMIR<\/span> <span class=\"caps\">PUTIN<\/span>:<\/strong> [translated] We are in touch with the leadership of Iran, in a very close contact. We see our role in creating conditions to settling the situation by finding mutual compromises. I think it is possible.<\/p>\n<\/blockquote>\n<p><strong><span class=\"caps\">AMY<\/span> <span class=\"caps\">GOODMAN<\/span>:<\/strong> Patrick Bond, your response, the Russia-Iranian alliance, and also the latest news that North Korea is sending soldiers to Russia, perhaps to fight in Ukraine?<\/p>\n<p><strong><span class=\"caps\">PATRICK<\/span> <span class=\"caps\">BOND<\/span>:<\/strong> Well, those conflicts, Russia-Ukraine, are just so tragic, since some several hundred thousand Ukrainian working-class people, and maybe 100,000 Russians, have been killed in what is a power grab, that I think goes outside my line of argument that it\u2019s a subimperial \u2014 it\u2019s a rogue subimperial, the way Janet Yellen\u2019s rogue imperial grab of all those assets could be described.<\/p>\n<p>But, you know, if I come back to where Richard was saying that this is an alternative, it\u2019s something new, it\u2019s a real challenge, I must fight you on that, my old friend, because I think there\u2019s not an anti-imperial, but a subimperial, not against, but within. Just think of the global value chain, my phone that has the cobalt from child labor in China, in Chinese mines in the eastern <span class=\"caps\">DRC<\/span>, then coming back into a Western phone. And these are the sorts of relationships we really have to be restructuring, not just a sort of shifting of the deck chairs on a global capitalist <em>Titanic<\/em>, certainly as the multilateral system expands. Next month, there will be, you know, a G20. Last year in Delhi, the African Union was added. As it expands to have more legitimacy, without changing the <span class=\"caps\">IMF<\/span> and the World Bank and the <span class=\"caps\">WTO<\/span> in any substantive way, the <span class=\"caps\">BRICS<\/span> are playing a greater role, I think, in amplifying the worst aspects.<\/p>\n<p>Just as one final example, 51% of global emissions come from these 10 countries, but they only produce 29% of <span class=\"caps\">GDP<\/span>. What it means is, <span class=\"caps\">BRICS<\/span> next month go to Azerbaijan for COP29. I\u2019m sure <em>Democracy Now!<\/em>, as usual, will go there and do cutting-edge analysis. You\u2019ll find that the <span class=\"caps\">BRICS<\/span> and the West are tightly allied against the rest of us.<\/p>\n<p><strong><span class=\"caps\">AMY<\/span> <span class=\"caps\">GOODMAN<\/span>:<\/strong> Last word goes to Richard Wolff.<\/p>\n<p><strong><span class=\"caps\">RICHARD<\/span> <span class=\"caps\">WOLFF<\/span>:<\/strong> Yeah, history does not happen in a morality play. You\u2019re not going to have the bad disappear and replaced by the good. It\u2019s never worked that way. What you have to have is an analysis of what\u2019s actually going on. And the unanimity, the dominance of the United States is over. And the whole world is trying to figure out,\u00a0every company in the world, every country: How do you navigate a new international order? The United States is pretending that, as a nation, it doesn\u2019t have to worry about this. And I\u2019m afraid Patrick\u2019s remarks will lead people to think, \u201cWell, there\u2019s problems on their side, too\u201d \u2014 which there are, but that misses the larger historical phenomena. This is the first serious economic competition this country has faced, and the consequences of that will be overwhelming to us.<\/p>\n<p><strong><span class=\"caps\">AMY<\/span> <span class=\"caps\">GOODMAN<\/span>:<\/strong> We want to thank you both for being with us, Richard Wolff, economics professor, visiting professor at The New School, and Patrick Bond, professor at the University of Johannesburg.<\/p>\n<p>That does it for our show. Yes, <em>Democracy Now!<\/em> will be in Baku, Azerbaijan, covering the U.N. climate summit in mid-November. And tune in on election night, Tuesday, November 5th, for a four-hour <em>Democracy Now!<\/em> election special, \u201cWar, Peace and the Presidency.\u201d Join us from 8 p.m. to midnight Eastern, and any television or radio station can take the broadcast, as well. We\u2019ll also be airing an expanded two-hour election show on Wednesday, November 6th. That does it for our show. Check out our <a href=\"https:\/\/www.democracynow.org\/about\/jobs\">job listings<\/a> at democracynow.org. I\u2019m Amy Goodman. Thanks so much for joining us.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.democracynow.org\/2024\/10\/25\/brics_summit_richard_wolff_patrick_bond\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is a rush transcript. Copy may not be in its final form. AMY GOODMAN: This is Democracy Now!, democracynow.org, The War and Peace Report. I\u2019m Amy Goodman. We end &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=118428\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-118428","post","type-post","status-publish","format-standard","hentry","category-world","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/118428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=118428"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/118428\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=118428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=118428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=118428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}