If you pay attention to the leftist thinkers/economists/commentators you will already know this to be the case but it is pretty significant that someone like him acknowledges this publicly.

Is this the beginning of the end of a period of Western empire which began with the very first colonies over 300 years ago?

Also, if you aren’t used to reading financial news, him mentioning it at all is essentially screaming in your ear that globalization is going into reverse.

  • NasgorTikusEnjoyer
    14•2 years ago

    I dont think its necessarily gonna end that suddenly unless the petrodollar breaks and go into hyperinflation or something like that. Although there is a very big trend that is happening that is pushing against it here in the global south.

    Most political parties regardless of ideology here in Indonesia advocate for economic self determination and to stop exporting raw materials by processing them here first and also to limit importing goods as much as possible to incentivize domestic production.

    Although of course most of that is political cheap talk as expected in all bourgeoisie democracies, i am seeing a trend of global south countries developing their own industries more and trying to move away from the dollar.

  • @TheConquestOfBed
    9•2 years ago

    the very first colonies over 300 years ago

    The very first slave colonies were actually built by Columbus himself, so 500 years would be more accurate.