How the World Can Free Itself From US Financial Colonialism: Economist Michael Hudson Explains

Economist Michael Hudson describes how the Western powers designed the international financial, legal, and political system in a way that benefits North American corporations at the expense of the countries of the Global South. 

He also proposes ways for the Global Majority to resist US neocolonialism, in this interview with host Ben Norton. 

Transcript: https://geopoliticaleconomy.com/2025/08/06/world-us-financial-colonialism-economist-michael-hudson/  

Read Michael's article "How the Global Majority can free itself from US financial colonialism": https://geopoliticaleconomy.com/2025/07/17/michael-hudson-global-majority-us-financial-colonialism/  

Michael's website: https://michael-hudson.com/  

Topics 

0:00 The global order is changing 

3:10 Introduction to Michael Hudson 

4:38 Highlight 

6:24 Interview starts 

6:45 History of financial colonialism 

13:06 Core-periphery divide 

15:17 Trump's tariff war 

16:34 Neoliberalism 

18:18 Debt 

21:59 Neocolonialism 

27:34 Socialism 

29:13 US empire destroys global system it created 

35:06 Need for new international orgs 

40:20 BRICS 

41:42 Global South debt default 

42:57 Hudson: BRICS needs new economic philosophy 

44:13 Odious debt 

48:05 Fight against rentier capitalists 

49:48 Discussion will continue in part 2 

51:09 Outro 

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