Voltaire Network

Economic globalisation

The theory of "free trade", appearing in the 18th century, was initially formulated to prevent the Dutch from closing their colonial empire to English commerce. It served as the political rationale for British colonial expansion, imposing an international division of labor that revealed itself to be much more effective for pillaging resources than the colonial system itself.
In 1941, the Anglo-Saxons devised, as an aim of the war, a shift from the prevailing mode of colonial exploitation to that of unequal exchange in the aftermath of victory over Nazi tyranny. The Atlantic Charter promoted decolonization, free trade and freedom of the seas. This model was formalized in 1947 with the GATT Agreements. This was reinforced during the Reagan-Thatcher era by a vast movement of privatization and deregulation.
In 1991, President Bush announced his vision of a new world order: globalization. The objective was to fill and profit from the void created by the disappearance of the USSR and extend Anglo-Saxon domination in a manner that closely twinned economic and military expansion.
The new model encompassed not only the free trade of goods but also of services and capital, to be regulated by an arbitrating tribunal that would constrain the sovereignty of individual states, which is today embodied in the World Trade Organization.
In the 21st century, this on-going process has led to the dematerialization of the world economy. Favoring the expansion of military-related industries while manufacturers of domestic consumer goods shut down, the Anglo-Saxons created an economy based on "financial products’ (meaning speculation) and the profits derived from "intellectual property" (so called "fair use"). They extended their control over the free trade of goods and services in air space using the "war on terror" as a pretext and over the seas under cover of a "war on piracy". In the meantime, however, the exorbitant costs of the neocolonial occupation of Iraq in 2003 nearly brought about the complete financial collapse of the empire.
At this point, President Obama and Prime Minister Brown attempted to save the system by eliminating foreign financial positions thus compelling capital to migrate in the direction of an Anglo-Saxon fiscal paradise. Additionally, Western governments have in a concerted way placed their means of public finance entirely in the hands of a small number of private banks. As a result, these are now in a position not only to avert collapse but also to acquire firms as they spiral into failure, accelerating the already gigantic concentration of riches.

Within Reactionaries
The Manhattan Institute, Neoconservatives’s Lab
by Paul Labarique
The Dollar Supremacy
The US’s Achilles Heel
by L.C. Trudeau
The US's Achilles Heel 4 April 2003
The establishment of a unipolar world is currently being carried out with the conflict in Iraq and the destruction of the United States. However, the war of Iraq hides another war: that of currency control. In this financial war, the United States tries to maintain the dollar as the only reference currency while part of the world is trying to use the euro as an alternative to the American hegemony. The change began late in 2000 when Iraq decided to make out their oil and trade transactions in euros and not in dollars anymore. North Korea and Iran followed the initiative. In March 2001, Venezuela, one of the most important members of the Organization of Petroleum Exporting Countries (OPEC), made a remarkable intervention regarding the use of the Euro in fixing the price of petroleum. In 2002, China and Russia began to convert their financial earnings from dollars to euros. If the Bush administration has its own reasons to attack Iraq, it is supported by the US financial (...)