For close to 80 years, the US dollar has reigned supreme as the world’s premier reserve currency.
It’s a state of affairs that gives the US what former french president, Valery Giscard d’Estaing famously termed its “exorbitant privilege” in world affairs.
While the meaning and practice of “colonialism” hardly needs to be described, the meaning of “neo-colonialism” is far less understood. This is because neo-colonialism is much less evident to the eye, unless, that is, one cares to look for it. Let us begin our search with the dictionary definition of the term. Merriam-Webster defines “neo-colonialism” as: “The economic and political policies by which a great power indirectly maintains or extends its influence over other areas or people.” Here the operative word is ‘indirectly’ though I suggest that instead of ‘influence’ a more accurate definition is: ‘control’, i.e. control over other areas or people including control of their natural resources and labor.
South Africa and other countries that have abstained from voting against Russia at the United Nations General Assembly in response to the war in Ukraine face intense international criticism. In South Africa, the domestic criticism has been extraordinarily shrill, and often clearly racialized. It is frequently assumed that abstention means that South Africa is in support of the Russian invasion, and this is either due to corrupt relations between Russian and South African elites, or nostalgia for support given to the anti-apartheid struggle by the Soviet Union, or both.
Most Finns would accept permanent NATO presence. Most Finns would allow permanent NATO military bases on their soil ahead of the country’s possible application for NATO membership, a survey conducted by media house Uutissuomalainen found.
Thousands gathered across several French cities to participate in Labour Day demonstrations on 1 May, just a week after French President Emmanuel Macron was re-elected and as parties gear up for legislative elections in June. In a symbolic move, the same day Jean-Luc Mélenchon’s La France insoumise (LFI) reached a deal with Julien Bayou’s Europe-Ecologie-Les-Verts (EELV).
Germany now favours an EU embargo on Russian oil, having previously opposed further energy sanctions against Russia, according to information obtained by several national media. Meanwhile, EURACTIV was informed that the EU is considering banning imports of oil transferred by tankers and allowing the ones through pipelines, at least for now.
Inflation has stayed higher longer than I expected. I got that one wrong. I am happy to acknowledge my mistake, but I also want to know the reason why. This is not a question of finding excuses, I want to know why the economy is acting differently than I thought it would.
Unlike European Union directives, which must be published in the languages of all the bloc’s member states, the sighs of relief heard across much of Europe at the outcome of yesterday’s French presidential election needed no translation. The suspense had already receded in the two weeks since the first-round ballot, as polls showed French President Emmanuel Macron widening his lead over far-right candidate Marine Le Pen. But with Macron’s reelection now sealed, the sense of having dodged a bullet in Brussels, the capitals of Europe, Washington and of course Paris is no less palpable.
France’s economy, the euro zone’s second-biggest economy, growth unexpectedly ground to a halt in the first quarter while Germany, Europe’s largest economy, faces possibility of tipping into recession. The war in Ukraine is the major cause of this situation.
Many people would quite correctly argue that the conceptual pair of “communication and capitalism” are more about capitalism than communication and the media. While the imperatives of capitalism carry on, the requirements of corporate media become ever more determining.