Imperialism, colonialism, racism, and ecocide: the four heralds of capitalism’s apocalypse? The spectre of climate change looms large, threatening migratory species’ survival. Meanwhile, China continues its dominance in the rare earth elements supply.
Can capitalism truly deliver for both the people and our planet?
These days, economic and environmental circles are abuzz with debate. Could capitalism’s endless pursuit of growth, through profits and GDP, be sustainable on our finite planet? Let’s explore this conundrum.
Some ardent believers maintain that the market, aided by some government intervention, can tackle challenges. They argue it can foster prosperity, equity, and environmental harmony. Critics, however, advocate for “degrowth.” This entails a smaller, stable global economy, offering prosperity and equity sustainably. Learn more about degrowth here.
The distinguished Jason Hickle stands out in the degrowth discourse. He posits that capitalism’s woes aren’t mere mishaps but are etched into its very fabric. His critique points to capitalism’s entrenched imperialisms, racism and resulting ecocide.
“Imperialism and racism are central to the capitalist world economy. The barbarism is a feature, not a bug,” Hickle asserts. From the 16th century, the global South became entangled in Europe’s capitalist economy, fuelling it with cheap labour and resources. Violence, colonisation, and genocide marked this era. These horrors were justified by race-based ideologies crafted by European elites.
Racism is intrinsic to capitalism and not just a byproduct. It co-exists with structural imperialism and ecological breakdown. Can we overcome capitalism and transition to a more democratic, socialist economy?
Climate change is a glaring example. The North is responsible for much of the excess emissions causing climate breakdown, whereas the South bears its brunt. Most of the South remains within its ecological limits, yet suffers the most — economically and in human terms. With warming aiming for 3⁰C, billions face extreme heat and risk. More on this stark injustice can be found here.
This is what Hickle terms “atmospheric colonisation.” The atmosphere, a shared resource, is monopolised by core economies for gain, with disastrous consequences worldwide. Even Bill Gates might reconsider his views when confronted with Hickle’s compelling arguments.
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Migratory species face climate threats
Climate change is unkind to those travelling great distances. From land to sea, migrators face warmer habitats, shifting winds, and more frequent extreme weather. These changes disrupt crucial timing for food and breeding.
- European swallows journeying to Africa must contend with expanded deserts and altered winds.
- Shorebirds in the Arctic find their nesting misaligned with the emergence of insects.
- North Atlantic right whales encounter warming seas and dwindling prey, forcing perilous detours.
- It’s noteworthy that migrating megafauna play a part in ecological balance, enhancing soil and seed dispersal.
There’s a pressing need to pinpoint species most vulnerable to climate shifts. We must engage Indigenous knowledge in conservation decisions. Read more about these efforts here.
Migrating south in North America: a mystery solved?
The tracks below show tagged creatures migrating south from mid-September to mid-November. Can you guess the animal? Sadly, their numbers have plummeted recently.
China’s grip on rare earth elements remains firm
China’s foresight in monopolizing rare earth element production is notable. By 2024, China controlled 60% of mining and 90% of processing for required green tech elements. Despite efforts by other nations, China’s hold on mining and refining could still be substantial in 2030. See more at Bloomberg Green.
Newcomers to the rare earth industry face long delays before turning discoveries commercial—often a 10-20 year wait. Moreover, mining and refinement carry environmental risks. Recycling metals like copper could cut down mining’s necessity.
Trade elsewhere, ‘rare earth’ definitions are scientifically universal. Yet, each nation labels certain minerals as ‘critical’ per its needs, usually including lithium, cobalt, and others. China often leads the charge, but read more about worldwide efforts here.
Trade protections for threatened species rise
The Convention on International Trade in Endangered Species recently introduced new protections for several species. These include the devil ray, marine iguana, and whale shark, among others.
Australia’s geckos now enjoy additional safeguards too. Watch this brief video for more.
Unfortunately, Kazakhstan’s saiga antelope remains under threat. Their horns are coveted in Chinese medicines, yet can still be legally traded.
Bear bile and rhino horns: openly sold in Laos
Despite global commitments, illegal wildlife products are prevalent in Laos.
Shops in Vientiane openly sell bear bile and rhino products. Their availability highlights lax enforcement and indifference to international laws. This requires more attention and action.
