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US’ Venezuela raid shows geopolitics is now a contest between economic blocs (www.scmp.com)

submitted 4 weeks ago by rss@news.abolish.capital to c/china@news.abolish.capital

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The latest developments in Venezuela are interpreted as part of a broader US strategy to secure access to major oil resources. They are much more than that: the US raid signals a transformation in the global economy wherein a country’s power is increasingly determined not by its political actions, but by its capacity to embed resource wealth within a self-sustaining production system. These deeper processes did not begin today, but rather around 2008-2009 when, according to an integrated...

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