Thursday, April 2, 2009

A New Superpower?

Now, at this point I really don't know if the Chinese have managed to increase their influence in those two "outstanding" facilitators of Anglo-Saxon global hegemony; the World Bank and the International Monetary Fund. However, it would appear that those two institutions are about to receive massive financial injections as a part of a deal arranged by the G20 in London. An economic recovery package of $1 trillion has been arranged and one wonders where they get these "strange" figures from. More importantly, however, a substantial amount of the money will be made largely available through the IMF and the World Bank. The IMF will get an additional "$250 billion" and the World Bank "$100 billion" ostensibly to help poor countries.(1) Yes, the same World Bank that goes into countries, loans the money at interest rates that those countries can never pay and then has them either in the West's pocket or buggers them up completely. The same World Bank and IMF that China has cleverly avoided. They really do appear to be quite clever the "Anglo-Saxon money men". Firstly, they use this crisis of capitalism to concentrate capital in even fewer hands, and thus increase the power and influence of the very people who are responsible for the mess in the first place, and then they get the rest of the international community to contribute to their bailout, while strengthening those very two institutions that have facilitated the biggest economic heist in the history of the planet. Or do the Chinese know something I don't? There is the usual mainstream media drivel, which suggests that China has started to throw its weight around and how it has managed to prevent Sarkozy getting a tax-haven blacklist published.(2) The real question though is have the Chinese managed to increase their influence in the World Bank and IMF. With Barack Obama setting aside time for a meeting with China', Hu Jintao, it might just be that they have and it might just be that that very exclusive little "essentially" Anglo-Saxon club has just taken on a new member.
The picture above shows the group photograph at the G20 summit

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