Vijay Prashad and Chris Jeffries discuss the ongoing conflict between Ukraine and Russia, with a focus on China’s peace proposal and its rejection. Vijay explains that the IMF and World Bank have played a significant role in the geopolitical conflict by imposing financial regime change on countries, leading to economic instability and potential regime change. Using examples like Argentina and Ukraine, they argue that these institutions, along with corporations, aim to make profits by deregulating economies and privatizing industries, often leading to conflict when governments resist. They also discuss the role of external forces, including the US, in instigating conflicts and regime change, using the examples of Libya and Ukraine. They criticize the prioritization of military power over development and infrastructure and the use of music and its meanings in political contexts. Overall, the scholars argue that the IMF’s involvement in Ukraine’s political and economic crisis led to widespread protests and political instability, ultimately contributing to the conflict.
Key Moments
00:00:00 Intro
00:05:00 the IMF and World Bank
00:10:00 “haircut” or debt restructuring
00:15:00 the privatization of Russian assets following the collapse of the Soviet Union
00:20:00 Ukraine’s controversial foreign funding law
00:25:00 the Libyan conflict in 2011
00:30:00 the unparalleled military might of the United States and its NATO allies
00:35:00 “Keep On Rocking In The Free World”
00:40:00 IMF’s austerity measures imposed on Ukraine in 2014 led to widespread protests
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