By Johan Galtung
28 Jul 2014 – Kuala Lumpur

They made it, with constructive alternatives – the New Development Bank and the Contingency Reserve Agreement–to the US-dominated World Bank and International Monetary Fund. Those two parts of Bretton Woods were basic pillars in the economic infra-structure of the US Empire in the hands of the US Congress. Loans were disbursed in return for “structural adjustment” –privatization, budget cuts, devaluation, repatriation of profit, also against BRICS countries. US companies were commissioned for huge jobs serving local elites. Untold damage was done in spite of some recent changes in rhetoric.
The USA used them to export the US economic–and with it the social, political, cultural, military–order through loans, grafting it upon social bodies that after some time rejected the implants as foreign and incompatible. Even a decaying order however brilliant it may have looked to the untrained eye as late as the 1990s.
What remains today of that US “order” is the military part Read More »




