{"id":63477,"date":"2022-09-10T06:51:38","date_gmt":"2022-09-10T11:51:38","guid":{"rendered":"https:\/\/olduvai.ca\/?p=63477"},"modified":"2022-09-10T06:51:38","modified_gmt":"2022-09-10T11:51:38","slug":"the-eus-crisis-is-global-neocolonialism-hyper-financialization-and-hyper-globalization-come-home-to-roost","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=63477","title":{"rendered":"The EU’s Crisis Is Global: Neocolonialism, Hyper-Financialization and Hyper-Globalization Come Home to Roost"},"content":{"rendered":"

The EU’s Crisis Is Global: Neocolonialism, Hyper-Financialization and Hyper-Globalization Come Home to Roost<\/a><\/h3>\n

The EU’s crisis isn’t limited to energy. It is a manifestation of the global breakdown of Neocolonialism, Financialization and Globalization.<\/i><\/p>\n

The European Union (EU) was seen as the culmination of a centuries-long process of integration<\/b>\u00a0that would finally put an end to the ceaseless conflicts that had led to disastrous wars in the 20th century that had knocked Europe from global preeminence.<\/p>\n

Wary of the predations of the U.S. and rising Asian powers, European nations sought the economic and diplomatic strength of a confederation that would be greater than the sum of its parts, a union that would restore Europe’s rightful place as a global power.<\/p>\n

This worthy goal was undermined by the destructive dynamics of the past forty years:<\/b>\u00a0Neocolonialism, Financialization and Globalization.<\/p>\n

These dynamics are unstable due to their internal contradictions.<\/b>\u00a0In classical colonialism, the Core dominates the Periphery with force, extracting economic value by exploiting the subject states’ commodities and forcing the colonies to buy the valued-added finished goods produced by the colonial power’s domestic economy.<\/p>\n

This extractive model was at odds with the liberal worldview of the colonial powers<\/b>\u00a0which held self-rule and open markets as necessary to stable prosperity. The contradictions of classical colonialism led to its collapse as colonies broke free and the colonial powers were forced to navigate a more open global economy.<\/p>\n

Beneath the glossy vibe of\u00a0strength through unity,<\/i>\u00a0the EU institutionalized a Neocolonial Model<\/b>\u00a0in which\u00a0some EU members are more equal than others<\/i>, a divide that was starkly revealed in the debt crisis of 2011-2012.<\/p>\n

I described the EU’s version of the Neocolonial Model in 2012:\u00a0The E.U., Neofeudalism and the Neocolonial-Financialization Model<\/a> (May 24, 2012)<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

The EU’s Crisis Is Global: Neocolonialism, Hyper-Financialization and Hyper-Globalization Come Home to Roost The EU’s crisis isn’t limited to energy. It is a manifestation of the global breakdown of Neocolonialism, Financialization and Globalization. The European Union (EU) was seen as the culmination of a centuries-long process of integration\u00a0that would finally put an end to the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,5],"tags":[24078,279,281,284,5809,4651,3643,587],"class_list":["post-63477","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-geopolitics","tag-charles-hugh-smith-2","tag-eu","tag-europe","tag-european-union","tag-financialisation","tag-globalisation","tag-neocolonialism","tag-of-two-minds"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63477"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63477\/revisions"}],"predecessor-version":[{"id":63478,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63477\/revisions\/63478"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}