How the world can free itself from US financial colonialism: Economist Michael Hudson explains

Economist Michael Hudson describes how the Western powers designed the international financial, legal, and political system in a way that benefits North American corporations at the expense of the countries of the Global South. He also proposes ways for the Global Majority to resist US neocolonialism, in this interview with host Ben Norton.

Transcript: https://geopoliticaleconomy.com/2025/08/06/world-us-financial-colonialism-economist-michael-hudson/

Read Michael's article "How the Global Majority can free itself from US financial colonialism": https://geopoliticaleconomy.com/2025/07/17/michael-hudson-global-majority-us-financial-colonialism/

Michael's website: https://michael-hudson.com/

Topics
0:00 The global order is changing
3:10 Introduction to Michael Hudson
4:38 Highlight
6:24 Interview starts
6:45 History of financial colonialism
13:06 Core-periphery divide
15:17 Trump's tariff war
16:34 Neoliberalism
18:18 Debt
21:59 Neocolonialism
27:34 Socialism
29:13 US empire destroys global system it created
35:06 Need for new international orgs
40:20 BRICS
41:42 Global South debt default
42:57 Hudson: BRICS needs new economic philosophy
44:13 Odious debt
48:05 Fight against rentier capitalists
49:48 Discussion will continue in part 2
51:09 Outro

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