When Most of the World Says No | Michael Hudson

Economist Michael Hudson discusses with Glenn Diesen how Trump's aggressive trade policies are inadvertently driving global powers toward creating an alternative multipolar economic system centered around China and Russia.

Hudson argues that Trump's tariffs and sanctions against India, Russia, and China have backfired spectacularly, pushing these nations together rather than isolating them. India's Prime Minister Modi, after facing US pressure to abandon Russian energy imports, has chosen to prioritize India's economic survival over American market access. This represents a decisive shift as India takes leadership of BRICS and commits to deeper partnerships with Russia and China. Meanwhile, major infrastructure projects like the Power of Siberia 2 pipeline are cementing Russia's pivot from Europe to Asia, redirecting energy supplies originally intended for European markets to China instead.

• Trump's "deep state" foreign policy has unified the global majority against US economic dominance through weaponized trade and finance • The Shanghai Cooperation Organization and BRICS are establishing new rules for international trade, payment systems, and governance that bypass US control • China's socialist market economy model is attracting other nations seeking alternatives to Western financialized capitalism • The emerging system emphasizes multipolarity, mutual benefit, and development-focused banking rather than rent-extraction and speculation