China and Russia Dumping IMF

What does the Shanghai Cooperation Organization (SCO) and the Asian Infrastructure Investment Bank (AIIB) have in common? In different ways they are attempts by China to become economically self-sufficient. They are investing in their own regions and what is especially alarming to the IMF about this is that both China and Russia are using their own currencies to do it.

Michael Hudson always writes long articles, but you get the gist of it from the first five pages.

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About Bruce Lerro

Bruce Lerro has taught for 25 years as an adjunct college professor of psychology at Golden Gate University, Dominican University and Diablo Valley College. He has applied a Vygotskian socio-historical perspective to his five books: "From Earth-Spirits to Sky-Gods: the Socio-ecological Origins of Monotheism, Individualism and Hyper-Abstract Reasoning", "Power in Eden: The Emergence of Gender Hierarchies in the Ancient World" (co-authored with Christopher Chase-Dunn), "Social Change: Globalization from the Stone Age to the Present", "Lucifer's Labyrinth: Individualism, Hyper-Abstract Thinking and the Process of Becoming Civilized", and "The Magickal Enchantment of Materialism: Why Marxists Need Neopaganism". He is also a representational artist specializing in pen-and-ink drawings. Bruce is a libertarian communist and lives in Olympia, WA.

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