I had an excellent and very insightful conversation with Dr. Steve Hanke, whom I invited back on the show to discuss the rise of the global South as economies of the G7 group are expected to continue their free fall.
The latest IMF forecast indicates that developing economies are expected to grow at a faster pace than those of the G7: the US forecasted economic growth is 2.7% compared to India’s 6.8%, Russia’s 3.2%, and China’s 4.6%.
When speaking about the global South, Dr. Hanke noted that many Latin American countries need a stable currency to achieve successful economic reforms and improve their standards of living. Outside of the BRICS+, Dr. Hanke said that the poorest countries in Latin America could benefit from introducing the dollar as a way to boost economic activity. However, he added that the US foreign policy is backfiring as the weaponization of the US dollar will continue to drive countries of the BRICS alliance away from the global reserve currency.
Thank you for being part of the community! Consider becoming a paid subscriber to support my work and to gain access to members-only content:
Dr. Hanke commented that the European Union’s collapse is largely driven by its biggest economy, Germany, sabotaging itself with the ban on imports of Russia’s natural resources that are vital for its industrial capacity as well as short-sighted domestic and foreign policies. Dr. Hanke noted Germany is a “disaster” in the near term as its de-industrialization is just beginning.
Further, we discussed the US uniparty system, political gain vs economic reason, and the role of natural resources in the rise of the global South. This is a must-watch interview for those who are interested in learning more about global economics.
The video interview is available on:
Stay in Touch: YouTube | Rumble | Locals | Patreon | X | Telegram
Share this post