A Different View: New IMF Rules To Isolate China and Russia?

[The IMF has, says Congress and the NYTimes, become more inclusive of China and Russia (see previous Frontlines post, https://revolutionaryfrontlines.wordpress.com/2015/12/29/ny-times-on-the-liberalizing-of-the-international-monetary-fund/).  But others, looking deeply, see the new IMF rules as counter-attacks on Chinese and Russian other-imperialist initiatives.  See this lengthy article for more details. — Frontlines ed.]

The IMF Changes its Rules to Isolate China and Russia

by Michael Hudson, CounterPunch, December 15, 2015

The nightmare scenario of U.S. geopolitical strategists seems to be coming true: foreign economic independence from U.S. control. Instead of privatizing and neoliberalizing the world under U.S.-centered financial planning and ownership, the Russian and Chinese governments are investing in neighboring economies on terms that cement Eurasian economic integration on the basis of Russian oil and tax exports and Chinese financing. The Asian Infrastructure Investment Bank (AIIB) threatens to replace the IMF and World Bank programs that favor U.S. suppliers, banks and bondholders (with the United States holding unique veto power).

Russia’s 2013 loan to Ukraine, made at the request of Ukraine’s elected pro-Russian government, demonstrated the benefits of mutual trade and investment relations between the two countries. As Russian finance minister Anton Siluanov points out, Ukraine’s “international reserves were barely enough to cover three months’ imports, and no other creditor was prepared to lend on terms acceptable to Kiev. Yet Russia provided $3 billion of much-needed funding at a 5 per cent interest rate, when Ukraine’s bonds were yielding nearly 12 per cent.”[1] Continue reading

World Bank: Massive Displacements with “Development” Masks

[The World Bank, an instrument of the US-led reorganization of the world imperialist system since World War II, has enabled the maintenance of neocolonial systems with successions of comprador and puppet regimes around the globe.  The suffering brought under the “development” slogan in the mis-named “developing nations” has brought displacement to hundreds of millions who, in response to such oppression, have continually and repeatedly rebelled.  Even the superficial credibility of present-day World Bank has been challenged, and so, the World Bank aims to put lipstick on the pig. — Frontlines ed.]
CounterView, Wednesday, December 23, 2015
World Bank decides action on “sweeping failures” in rehabilitating people affected by projects funded by it

Fishing community in Gujarat “affected” by World Bank power project

The International Consortium of Investigative Journalists (ICIJ), a powerful group of cross-border journalists, has appreciated that, after years of delay, the World Bank has initiated “action to address sweeping failures in its oversight of development projects that force people from their land or harm their livelihoods.” Continue reading

Modi Taking Operation Green Hunt to the Western Ghats: Bulldozer Development and Displacement

 As Operation Green Hunt Extends To Engulf The Western Ghats, What Do We Stand To Lose?

By JNU Forum Against War on People

06 December, 2014
Countercurrents.org

Unite to stop the state-backed corporate-sponsored war on people

As is obvious today, the Modi-Rajnath combine is desperate to carry forward the Manmohan-Chidambaram model of ‘development’ albeit with much more ferocity and single-mindedness. As the new “iron man”, Modi is expected to deliver to the expectations of the MNCs & big business by way of ironing out all possible dissent or “road blocks” in the path of ‘development’. This of course entails more death, destruction & displacement for the people and irreversible devastation for the environment. Taking it on from where the UPA left it, the present government has already embarked upon the vicious design to bypass, flout, dilute or do away with all safeguards pertaining to the grant of forest/environment/wildlife clearances and the acquisition of land for mining/industrial/SEZ projects. And to ensure that all possible resistance to this profit/loot-oriented anti-people and environmentally unsustainable model of ‘development’ can be quelled by force, the present government is not just willing to add more teeth to the ongoing Operation Green Hunt in the central & eastern parts of the country, but also expand this fascist corporate-sponsored war on people to newer areas.

Continue reading