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Isolation As A First Step For New Integration. What’s the IMF Afraid?


Isolation As A First Step For New Integration. What's the IMF Afraid?

A Chinese naval vessel makes a port call in Australia in a file photo. Photo: AFP/EPA

The International Monetary Fund (IMF) is ringing an alarm bell warning about the expected (and already observed) dire consequences of the economic turbulence caused the COVID-19 outbreak and massive lockdowns caused by it.

According to the IMF, the global economy is in recession and ninety billion dollars left the emerging markets and developing economies already. The IMF has always been a tool of the global elites and international financial capital. In the current conditions, even this institution is appears to be concerned about the apparent negative effect of the COVID-19 pandemic hype. There is no secret in the fact that many anti-COVID-19 measures damaging the world economy are at least questionalbe. However, in the current situation, there could be another reason why the IMF and forces behind it are so concerned.

Since the very start of the COVID-19 hype, the outbreak and governments’ response to it have been contributing to the isolation of countries from each other and the fragmentation of the existing Euro-Atlantic structures (like the WTO, NATO, and the EU). All the countries around the world are suffering from economic setbacks. Contradictions among key oil producers also contribute to the instability. The OPEC+ meeting originally set to be held on April 6 was rescheduled for April 8-9. Even this small delay already impacted negatively the energy market.

Amid these developments, China, which has already passed the COVID-19 crisis, and has a large potential of the economic growth, is strengthening its positions. Its economy is also being damaged, but the scale of this damage is lower than those suffered by its Euro-Atlantic counterparts.

This analysis was released by SouthFront in October 2019:

If the current COVID-19 hysteria develops and further in the current direction, it may lead to the destruction (or at least significant changes in) the current global economic order. States that will survive the economic and political challenges of the COVID-19 crisis would start restoring the destroyed economic and political ties. The world will enter a new phase of the re-integration. However, this kind of re-integration will likely be conducted on a regional basis. The world may be split into several political economic clusters, including those in Northern America, Europe, and Asia. In this scenario, China, Kazakhstan, Russia and several nearby countries will likely form one of this new clusters, while the economically developed EU member states – another one. The US will dominate in Northern America and keep strong, but limited ties with the ‘new Europe’.

This situation will mark the collapse of the global dominance of the IMF and powers behind it. In the beset case scenario, they will be able to keep their influence in the US and EU economic clusters, but will lost a large part of their positions in the rest of the world. If this happens, this scenario may lead to a new renaissance of the national states and regional economies suffering under the heel of the globalists. However, the question is what countries will be able to pass the current crisis without an irreparable harm to their economic, political and social systems.

This analysis was released by SouthFront in July 2019:




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