Geopolitical Economy Report Ben Norton
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Geopolitical Economy Report is an independent news outlet that provides original journalism and analysis to understand the changing world.
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Is Japan in crisis as yen crashes? Or is USA exporting its economic problems?
Japan's currency the yen has fallen significantly against the dollar. It its economy in crisis? What is the role of US interest rates, inflation, debt, and deficits? What about China? Ben Norton explains the complex geoeconomic situation.
VIDEO: https://youtube.com/watch?v=sz3r36ZTe7Q
Topics
0:00 Intro
1:40 Yen plunges against US dollar
3:32 Rising exports, falling imports
4:40 Did Germany overtake Japan?
5:58 Nominal GDP is misleading
7:27 PPP is much more accurate
9:25 Misunderstanding GDP figures
10:53 US deficits & debt drive GDP growth
12:37 Strong US dollar
13:58 Industrialization & manufacturing
15:31 Current account
16:15 US Treasury securities
18:09 Why is the yen falling?
18:43 Interest rates
20:37 Bond yields
23:28 Why doesn't Japan raise interest rates?
23:50 Japan's debt
26:18 Inflation
29:32 US Treasurys
30:29 De-dollarization: China drops US bonds
33:14 TL;DW (conclusion)
35:07 Outro -
How the dollar's 'exorbitant privilege' enriches the USA (and global elites)
How much does the US benefit from printing the global reserve currency? An economist calculated that US average daily income would fall by 27-57% if the dollar lost its "exorbitant privilege". Ben Norton explains how wealthy investors not only in North America but around the world hold much of their wealth in the dollar.
VIDEO: https://youtube.com/watch?v=jYkiMcR1Rj8
Link to Philip Pilkington's report and Twitter account: https://twitter.com/philippilk/status/1782409654519128497
Topics
0:00 US dollar dominance
2:00 Economics of exorbitant privilege
5:23 Current account
9:29 Balance of payments
12:31 Effects of dollar hegemony
14:45 Neoliberalism & financialization
17:41 Foreign capital funds US deficits
19:28 Global 1% invests in US assets
20:35 Super Imperialism
22:25 Fed inflates asset bubbles
25:22 De-industrialization in West
28:06 Industrialization in BRICS
28:57 Investment & FDI
33:08 Wages & manufacturing
35:00 Re-industrialization?
38:16 Outro -
Biden signs law to ban TikTok: Latest attack in US economic war on China
US President Joe Biden signed a law that will force TikTok's Chinese owner ByteDance to sell the app, or it will be banned in the US. Ben Norton explains how this is part of Washington's economic war, aimed at protecting Big Tech monopolies in Silicon Valley.
VIDEO: https://youtube.com/watch?v=_WFYov2kfLI
Topics
0:00 Biden signs law to ban TikTok
1:39 US tech war on China
5:00 India banned Chinese apps, giving US Big Tech total control
6:38 Protectionism or economic war?
8:30 Silicon Valley lobbied against TikTok
9:37 Donald Trump tried to ban TikTok... before doing 180
12:15 Role of Israel/Palestine/Gaza?
13:42 US trade war with Japan in 1980s
15:38 "Free market" hypocrisy
18:25 US does not truly want "competition" with China
19:39 Outro -
If Ukraine loses war, it will be 'end of Western hegemony', warns UK's Boris Johnson
If Ukraine loses in the NATO proxy war with Russia, "it will be the end of Western hegemony", lamented former British Prime Minister Boris Johnson. Ben Norton explains the geopolitics of the conflict, and how most of the Global South has not joined the Global North in opposing Moscow.
VIDEO: https://youtube.com/watch?v=M8ZmkIhs8r0
Check out our related report - "‘Western dominance has ended’, EU foreign-policy chief admits, warning of ‘West against the Rest’": https://geopoliticaleconomy.com/2024/02/26/western-dominance-ended-eu-josep-borrell -
Challenging the duopoly: Jill Stein on why she's running for US president as Green Party candidate
Jill Stein explains why she decided to run for US president on an anti-war, pro-worker platform, challenging the duopoly of the Democrats and Republicans as the candidate for the Green Party. She is interviewed by political economists Radhika Desai and Michael Hudson.
VIDEO: https://youtube.com/watch?v=oDUb7-MPH48
Read the transcript here: https://geopoliticaleconomy.com/2024/04/20/jill-stein-president-green-party-candidate/
You can watch other episodes of their program Geopolitical Economy Hour here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP -
US blocks UN from recognizing Palestine, while Israel attacks Iran
The US vetoed a resolution in the UN Security Council that called to recognize Palestine as a member state, while Israel launched attacks on Iran. Ben Norton shows how Washington is opposing peace.
VIDEO: https://www.youtube.com/watch?v=VndvgbR51D4
Topics
0:00 Intro
1:29 Israel attacks Iran
4:39 US vetoes Palestinian UN membership
7:31 What is Palestine's status at UN?
8:57 Which countries recognize Palestine?
10:18 "Two-state solution" hypocrisy
12:01 How USA prevents peace in Palestine
15:35 US defended South African apartheid at UN
18:30 South Africa's anti-apartheid leaders support Palestine
21:02 China supports Palestine
22:56 Russia supports Palestine
23:47 UNSC Gaza resolutions vetoed by US
25:53 US sponsors Israel's crimes against humanity
27:23 Outro