As dizzying yet historically deeply-rooted developments transform the political economy of key countries and the world's geopolitical economy, we provide ongoing analyses of the foundations being laid for a multi-polar world beyond capitalism.
Michael Hudson: The AI Crash Is Coming, And You Will Pay For It | The AI Bubble Explained
Is artificial intelligence the technology of the future, or the next great bubble? Michael Hudson joins me for another Geopolitical Economy Hour to discuss the looming AI economic crash. Michael compares the frenzy to the dot-com bubble and the railroad bubbles of the 19th century, while the scale of this one outmatches all what we have previously seen. We examine Washington's plan to turn AI into a monopoly choke point on the world economy and to make everyone dependent on proprietary technology so AI billionaires can continue to collect monopoly rents. China's open-source approach, however, is built around finite tasks and is already undercutting it. Meanwhile, the surging electricity and water costs driven by skyrocketing data centre projects are falling on local communities.
5 Oct 2026
Mohammad Marandi: "Dubai Is Never Going to Be Dubai Again" | Geopolitical Analysis Of Iran War
Is the war meant to break Iran now breaking Washington's Gulf allies instead? I am joined at the Valdai Discussion Club in Moscow by Professor Seyed Mohammad Marandi of the University of Tehran, who points out that seven months of siege and sanctions are strangling the oil-dependent Gulf monarchies that helped wage this war. With US bases around Iran destroyed or half destroyed, these states are emerging as diminished entities.
2 Oct 2026
Roger Koppel: Will Europe Go To War With Russia? Ukraine Is Paying for Europe's Moralism
Will Europe go to war with Russia? At this year's Valdai Discussion Club conference, I am joined by Roger Köppel, owner of the Swiss weekly Die Weltwoche, former editor-in-chief of Germany's Die Welt, and a former member of the Swiss parliament. Köppel warns that the world is closer to a third world war than at any time since 1945, even though Europe is too weak economically, militarily and politically for any confrontation with Russia. He sees Europe's disease as the triumph of moralism over realism, and the Ukraine war as its ultimate expression. In his account, Europeans pay, Ukrainians fight, and Americans collect the profits.
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