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Gustavo Petro assures that capitalism will not solve climate crisis

Gustavo Petro assures that capitalism will not solve climate crisis
Photo: Infobae

June 22 |

The president of Colombia, Gustavo Petro, proposed Thursday in Paris, France, a reform of multilateral banking to activate a global Marshall Plan to provide resources to countries to address the global climate crisis.

Applauded by the attendees, the idea put forward by the president is to design, through the International Monetary Fund (IMF), a large global issuance of special drawing rights to be destined to the climate fund, in order to free up budgetary spaces in the nations dedicated to mitigate or adapt to environmental problems.

In his speech at the Summit for a New Global Financial Pact, Petro asserted that “the market’s own mechanisms will not solve the climate crisis”, as it is “a problem that it has created itself”.

Before government leaders, international institutions and representatives of civil society, the Colombian president argued that “investment to combat the climate crisis involves hundreds of billions” and “capital is guided by profitability”.

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The Colombian leader addressed the president of the European Commission, Ursula von der Leyen, to assure, in addition, that the measures proposed by Brussels are too dependent on private enterprise; among them, the pricing of pollution.

Gustavo Petro also acknowledged that “there is no time to wage war on capital”, but to admit that “it has its limits” when it comes to solving current problems. For the president, States must “recover their power” “not to decree the end of markets, but to recognize their limitations in the fight against climate change”.

The Colombian president also insisted on the need for a dialogue between North and South because, in his opinion, “the end of the planet concerns everyone”.

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International

Floods in Central Vietnam leave 28 dead, thousands displaced

The death toll from heavy rains and flooding in central Vietnam has risen to 28, with six people reported missing and 43 injured, local newspaper VnExpress reported Friday night.

More than 22,100 homes remain flooded, primarily in the cities of Hue and Da Nang. Floods and landslides have destroyed or swept away 91 houses and damaged another 181, the report added.

Around 245,000 households are still without electricity, particularly in Da Nang, where over 225,000 homes are affected.

Additionally, 80 stretches of national highways are blocked or disrupted due to landslides. Authorities expect the flooding to continue for another day or two in the region.

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International

FBI foils ISIS-Inspired attack in Michigan, arrests five teens

Kash Patel did not provide further details, but police sources told CBS News that the potential attack was “inspired” by the Islamic State (ISIS).

“This morning, the FBI thwarted a potential terrorist attack and arrested several individuals in Michigan who were allegedly planning a violent attack during the Halloween weekend,” Patel wrote on X.

“Thanks to swift action and close coordination with our local partners, a possible terrorist act was prevented before it could be carried out,” he added.

CBS reported that five people between the ages of 16 and 20 were arrested on Friday. At least one of them was reportedly acquainted with a former member of the Michigan National Guard, who was arrested in May for plotting an ISIS-inspired attack on a U.S. military facility in the Detroit suburbs.

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International

U.S. warns China over Taiwan during high-level defense talks in Kuala Lumpur

U.S. Secretary of Defense Pete Hegseth expressed concerns over China’s growing military activity near Taiwan during a meeting on Friday with Chinese Defense Minister Dong Jun in Kuala Lumpur.

“It was a constructive and positive meeting,” Hegseth wrote on X. “I emphasized the importance of maintaining a balance of power in the Indo-Pacific and raised U.S. concerns about China’s actions around Taiwan,” the self-governed island that Beijing claims and does not rule out invading.

The meeting took place on the sidelines of the ASEAN Defense Ministers Meeting-Plus, one day after U.S. President Donald Trump met Chinese President Xi Jinping in Busan, South Korea. According to Trump, Taiwan was not discussed during their talks.

“The United States does not seek conflict and will continue to firmly defend its interests, ensuring it maintains the capability to do so in the region,” Hegseth added in his message.

Friday’s encounter followed a September 9 video call between Hegseth and Dong. Their previously planned meeting at the Shangri-La Dialogue in Singapore was canceled due to Dong’s absence from the event.

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Trump’s sit-down with Xi — their first since 2019 — resulted in some trade agreements but avoided addressing the issue of Taiwan, a long-standing source of tension between the world’s two largest powers.

Trump has taken a more ambiguous stance on Taiwan’s future compared with former President Joe Biden, who repeatedly stated that Washington would support Taipei if China launched an invasion. The Republican president has also criticized Taiwan for “stealing” the U.S. semiconductor industry.

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