Noam Chomsky is a noted linguist, author, and foreign policy expert. On January 15, Michael Shank interviewed him on the latest developments in U.S. policy toward regional challenges to U.S. power. In the second part of this two-part interview, Chomsky also discussed the Bank of the South, nationalization of resources, and the Shanghai Cooperation Organization.
Michael Shank: In December 2007, seven South American countries officially launched the Bank of the South in response to growing opposition to the World Bank, the International Monetary Fund and other International Financial Institutions. How important is this shift and will it spur other responses in the developing world? Will it at some point completely undermine the reach of the World Bank and the IMF?