Developing countries in the stranglehold of debt.
The coronavirus pandemic and other aspects of the multidimensional crisis of global capitalism are enough to fully justify suspending debt repayment. Indeed priority must be given to protecting people against ecological, economic and public health disasters.
In the context of the current emergency, we have to assess longer trends that make it necessary to implement radical solutions to the issue of DCs’ debt. This is why we develop our analysis of factors that currently increase the unsustainability of the debt repayments claimed from countries in the Global South. We shall consider in turn the downward trend in commodity prices, the reduction of foreign exchange reserves, continued dependence on revenue from commodity export, the DCs’ debt payment calendar, with major repayments due between 2021 and 2025, mainly to private creditors, the drop in migrants’ remittances to their countries of origin, the back flow to the North of stock market investments, the perpetuation of capital flight.1 Payment rescheduling granted in 2020-2021 because of the pandemic by creditor countries that are members of the Paris Club and of the G20 only accounts for a small portion of repayments owed by developing countries.
Nuclear disarmament: Thinking outside the silo
Every five years since 1970 diplomats and arms control experts have gathered to review progress – or lack of it – in the disarmament process enshrined in the nuclear Non-Proliferation Treaty (NPT). The latest review conference, which was scheduled for May 2020, was postponed due to the coronavirus pandemic.
This postponement is a silver lining behind a very dark cloud made up of the pandemic and several looming nuclear crises. It has bought time and with that time a new administration in Washington, one that is likely to be more open to multilateral efforts, pragmatic compromise and cooperative solutions.
Nuclear Proliferation: Risk and Responsibility (Report to the Trilateral Commission)
There is no greater challenge to global peace today than the proliferation of nuclear weapons and the increasing likelihood that terrorists may acquire nuclear material. The papers presented in this report from the Trilateral Commission’s 2006 annual meeting in Tokyo offer a comprehensive and insightful overview of this urgent challenge.
Shopping for Bombs: Nuclear Proliferation, Global Insecurity, and the Rise and Fall of the A.Q. Khan Network
A.Q. Khan was the world’s leading black market dealer in nuclear technology, described by a former CIA Director as “at least as dangerous as Osama bin Laden.” A hero in Pakistan and revered as the Father of the Bomb, Khan built a global clandestine network that sold the most closely guarded nuclear secrets to Iran, North Korea, and Libya.
Deterring America: Rogue States and the Proliferation of Weapons of Mass Destruction
Faced with America’s military superiority, many countries are turning to weapons of mass destruction (WMD) as a means to deter United States intervention. However, the events of September 11 awakened America to a degree of vulnerability it had never experienced before, making it increasingly unwilling to tolerate such weapons in the hands of unstable and unpredictable regimes.
Containing Missile Proliferation: Strategic Technology, Security Regimes, and International Cooperation in Arms Control
The proliferation of ballistic missiles that can deliver weapons of mass destruction halfway across the world is a matter of growing urgency and concern, as is the fate of agreements limiting the development of such deadly weapons. The Bush administration’s scrapping of the ABM Treaty and pursuit of a huge National Missile Defense initiative are dramatic evidence of this concern
Death by Government: Genocide and Mass Murder Since 1900
This is R. J. Rummel’s fourth book in a series devoted to genocide and government mass murder, or what he calls democide. He presents the primary results, in tables and figures, as well as a historical sketch of the major cases of democide, those in which one million or more people were killed by a regime.
In Death by Government, Rummel does not aim to describe democide itself, but to determine its nature and scope in order to test the theory that democracies are inherently nonviolent.