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Showing posts with the label "john smith"

Imperialist Realities vs. the Myths of David Harvey

In 2015, researchers based in Brazil, India, Nigeria, Norway and the USA published  Financial flows and tax havens: combining to limit the lives of billions of people , which they fairly claim to be “the most comprehensive analysis of global financial flows impacting developing countries compiled to date.” Their report calculates ‘net resource transfers’ (NRT) between developed and developing countries, combining licit and illicit inflows and outflows—from development aid and remittances of wages to net trade receipts, debt servicing, new loans, FDI and portfolio investment and repatriated profits, along with capital flight and other forms of financial chicanery and outright theft. They found that in 2012, the most recent year for which they could obtain data, what they call ‘developing and emerging countries’ (which of course includes China) lost $2.0 trillion in net transfers to rich countries, equivalent to 8% of emerging nations’ GDP in that year—four times larger than the averag
"Neoliberal globalisation signifies, above all, a new stage in the globalisation of the capital labour-relation. It pitches the workers of the dominant nations and the workers of the global South together, in competition with each other and yet bound together in mutual interdependence, connected by globalised production processes, exploited with different intensities by the same capitalists. But this qualitative, new stage in the evolution of the capital/labour relation possesses a very specific quality: the imperialist division of the world was inherited by capitalism; it is now inherent. In other words, the globalisation of the capital/labour relation, in the context of and on the foundation of a pre-existing division of the world into oppressed and oppressor nations, entails the internalisation of this division. Neoliberal globalisation is, therefore, the unfolding of the imperialist form of the capital relation. As a result, this latest stage of capitalist development