International economist Yanis Varoufakis advocates for a fresh alliance of non-aligned nations, aiming to establish a progressive, democratic, and freedom-promoting New Economic World Order with a socialist framework.
In Havana, Cuba, on January 30, 2023, Yanis Varoufakis, former Greek MP and founder of DiEM25, addressed a gathering of progressive actors from around the world at the Progressive International congress. The event, part of a project for a new international economic order, saw Varoufakis call for a fundamental adjustment of the global power structure.
Varoufakis' speech came amidst the backdrop of US President Biden's microchip embargo, which he sees as declaring economic war on China. The action against Chinese Big Tech companies, according to Varoufakis, is driven by competition for what he calls "Cloud Capital" – an internet-based or cloud-based means of behavior modification.
During his address, Varoufakis also touched upon the admiration he holds for the Cuban people and the situation in his home country, Greece. He noted that the Greek people look at the Cuban people with great respect and a touch of envy, as the Cuban people have not capitulated. In contrast, Varoufakis suggested that Athens appears wealthier and "developed" than Havana, but most of the Greek population is propertyless and humiliated, and their democracy is a farce.
The Progressive International congress is part of a project for a new international economic order, emphasizing South-South cooperation, reform of international financial institutions, and collective action from emerging economies to reshape global governance toward equity and sustainability. The event coincides with Cuba assuming the presidency of the G77 bloc of 134 global South countries.
The congress saw Varoufakis speak to 43 delegates from 26 countries across all six inhabited continents. The delegates discussed various topics, including geopolitics, climate, finance, technology, and trade. Varoufakis urged the delegates to take up these tasks within a new movement of the Non-Aligned to end the legalized plunder of people and earth that fuels the climate catastrophe.
On Saturday, the delegates presented a declaration and action plan to advance the New International Economic Order over the next 18 months. The Progressive International's "New International Economic Order" project aims to promote a fairer, more inclusive global economic system that challenges the current hegemonic structures dominated by Western powers.
The congress underscored how emerging economies are rewriting the rules around global economic governance by expanding development finance, advocating reform in quota allocations at the IMF, and encouraging South-South trade and solidarity networks as alternatives to traditional North-dominated models. It also stressed the role of local civil society and ethical commitments in ensuring equitable and sustainable outcomes, proposing that new economic arrangements must simultaneously advance social justice and innovation, particularly within health and education sectors.
Varoufakis argued that a new Non-Aligned Movement is needed to stand on the side of the victims and criticize abuses wherever they occur. He also addressed the looming New Cold War, urging the delegates to work towards a multipolar global governance that prioritizes inclusive development, reforms outdated financial rules, and builds resilient international cooperation grounded in shared ethical principles and respect for sovereignty.
Notable attendees at the congress included Andres Arauz, former central bank director of Ecuador and presidential candidate, and Colombian senator Clara Lopez. The event served as a platform to consolidate these ideas among progressive actors from the Global South, notably influenced by BRICS perspectives, advancing a quiet yet revolutionary agenda for a new global economic system.
[1] Progressive International. (2023). Progressive International Congress in Cuba. Retrieved from https://progressiveinternational.org/2023/01/30/progressive-international-congress-in-cuba/ [2] Varoufakis, Y. (2023). Yanis Varoufakis at the Progressive International Congress in Cuba. Retrieved from https://yanisvaroufakis.eu/2023/01/30/yanis-varoufakis-at-the-progressive-international-congress-in-cuba/ [3] Global Justice Now. (2023). Progressive International Congress in Cuba. Retrieved from https://www.globaljustice.org.uk/news/2023/progressive-international-congress-cuba/ [4] The Cuba Libre Solidarity Committee. (2023). Progressive International Congress in Cuba. Retrieved from https://cubalibresolidarity.org/2023/01/30/progressive-international-congress-in-cuba/
- Yanis Varoufakis, at the Progressive International congress in Havana, Cuba, advocated for a fundamental adjustment of the global power structure, focusing on the need for a New International Economic Order that prioritizes South-South cooperation, reform of international financial institutions, and environmental science to address climate-change.
- The discussion at the congress also featured geopolitics, technology, and trade, with Varoufakis urging the delegates to take up these tasks within a new movement of the Non-Aligned, aiming to end the legalized plunder of people and earth that fuels the climate catastrophe.
- In his speech, Varoufakis touched upon policy-and-legislation, calling for reforms in quota allocations at the IMF and proposing a fairer, more inclusive global economic system that challenges the current hegemonic structures dominated by Western powers, which he saw as interconnected with general-news topics such as the US President Biden's microchip embargo and the competition for Cloud Capital.
