BRICS, Capitalism Debated at IDC

by The_unmuteenglish

Chandigarh, 18 January 2025: Chandigarh hosted an engaging discourse on BRICS, capitalism, and global inequalities during the Prof Randhir Singh Memorial Lecture at the Institute for Development and Communication (IDC) in Sector 38.

Speaking at the event, Professor Alan Freeman from the University of Manitoba emphasized the potential of BRICS (Brazil, Russia, India, China, and South Africa) to offer an alternative to the US-dominated global narrative.

“While BRICS has internal challenges, it holds the capacity to better represent the Global South and provide a counterpoint to Western powers like NATO,” said Freeman.

He acknowledged the current capitalist structures within BRICS countries but argued they would treat Global South nations more equitably than the American model.

Critiquing US policies, Freeman called out both former President Joe Biden and President-elect Donald Trump.

While Biden, he said, played a role in the division of Yugoslavia, Trump’s rhetoric against the “deep state” ignored the larger issues posed by the US state itself.

Tracing capitalism’s roots in slavery and colonial exploitation, Freeman cited Karl Marx and pointed to contradictions in US history, including the Republican Party’s initial stance against slavery. “Their opposition to slavery was not moral but economic,” Freeman noted. He also criticized the influence of US agencies like the FBI and CIA, calling attention to the limited democracy in America.

Addressing global inequalities, Freeman linked migration from India to Canada or the US to systemic disparities between nations.

Expanding on the topic, Professor Radhika Desai from the University of Manitoba introduced the concept of “geopolitical economy” as a framework for understanding the multipolar world. She highlighted how neoliberal policies have exacerbated inequality, stifled growth, and driven financialization.

The session’s chair, Professor Ronki Ram from Panjab University, revisited the intellectual legacy of Prof Randhir Singh, praising his critical analysis of globalisation’s destructive effects on traditional communities. He noted Singh’s insights into how globalisation reinforced capitalist exploitation.

IDC chairperson Professor Pramod Kumar appreciated the panelists for invoking Marx in a climate driven by propaganda. Reflecting on electoral politics, he lamented its shift from addressing structural inequalities to perpetuating them.

He urged for reforms to replace economic imperatives with democratic frameworks that empower citizens and foster genuine democratic discourse.

The event highlighted diverse perspectives on how global capitalism and geopolitics shape inequalities, underscoring the need for transformative policies and deeper understanding.

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