View all posts filed under August, 2007

Turkey and Latin America have experienced many similar historical and contemporary political processes and socio-economic changes despite significant cultural and historical differences. For example, Turkey is the center of a former empire, an Islamic country and member of NATO – Latin America is none of those. For purposes of this article, I want to focus on the contemporary socio-economic and political similarities and differences.

Ecuador today faces great opportunities for a basic social transformation and also grave threats from imperial networks.

All the major financial analysts claim the ongoing and deepening financial crisis is in large part the result of investor uncertainty. This is because the investment banks, derivatives and hedge funds placed high risk, sub-prime mortgages and junk bonds, along with other more reliable debt paper into packages and sold them to institutional and private bankers who in turn ‘retailed’ them around the world.

Latin America and the Caribbean (LAC) are passing through a deep process of devolution during the last quarter century of the 20th century. LAC experienced the restoration of pre-national forms of property ownership, the reversal of social relations of production (capital-labor).

The Cuban revolution with its socialist economy has demonstrated tremendous resilience in the face of enormous political obstacles and challenges. It successfully defied a US orchestrated invasion, naval blockade, hundreds of terrorists’ attacks and half-century boycott.