This is hilarious because Iran is already sanctioned to hell and back. G7 really has one tool and that’s it. So glad my country joined BRICS and made peace with Iran.
I like the idea of economic incentives and I think they’re extremely effective, although the ones on the other end of them usually take years before they start to feel the full effects.
What people seem to not be noticing is that effectively the Global North is sanctioning itself. Meanwhile the Global South is making its own plans without them.
It’s incorrect to think that losing access to markets is beneficial for anyone, which is why using it as a bargaining chip to make people stop murdering each other is a good thing. Even if this imaginary Global South organization had another provider for goods, they’re at risk of being abused or manipulated by a lower number of trade partners who can increase prices at will.
Provider for goods? What are you on about? Western nations outsource all production to the global south (pretty much) and the only thing they make is overpriced software (hyperbole)
Some markets aren’t worth the trouble. It is not like Iran is losing access to China. It is losing access to a market that it had very limited access to if any.
It’s incorrect to think that losing access to markets is beneficial for anyone
It almost never is, but in this case the Global North’s sanctions are forcing the Global South to build alliances amongst themselves, and this shift is likely to be quite durable.
This is hilarious because Iran is already sanctioned to hell and back. G7 really has one tool and that’s it. So glad my country joined BRICS and made peace with Iran.
Reminds me of “you are only making it worse for yourself”
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I like the idea of economic incentives and I think they’re extremely effective, although the ones on the other end of them usually take years before they start to feel the full effects.
What people seem to not be noticing is that effectively the Global North is sanctioning itself. Meanwhile the Global South is making its own plans without them.
It’s incorrect to think that losing access to markets is beneficial for anyone, which is why using it as a bargaining chip to make people stop murdering each other is a good thing. Even if this imaginary Global South organization had another provider for goods, they’re at risk of being abused or manipulated by a lower number of trade partners who can increase prices at will.
I’m sorry that you disagree.
Provider for goods? What are you on about? Western nations outsource all production to the global south (pretty much) and the only thing they make is overpriced software (hyperbole)
Some markets aren’t worth the trouble. It is not like Iran is losing access to China. It is losing access to a market that it had very limited access to if any.
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China is leading the world in cost effective manufacturing and infrastructure projects. I have no idea what you are huffing but it must be strong
Competition drives prices down. Bare minimum economic theory for you, you’re welcome for that.
Who is going to undercut the Chinese? This I want to see. Maybe the Europeans shouldn’t slap tariffs on Chinese products then.
It almost never is, but in this case the Global North’s sanctions are forcing the Global South to build alliances amongst themselves, and this shift is likely to be quite durable.
Geopolitical Economy Hour, Apr. 2023: Russia Leaves the Neoliberal West to Join the World Majority
How long do you think before we see some G7 states break rank and join BRICS? Or do you think they will go down together?