Top Economist's 'Get Along' Advice For India, China Amid 'Instability From US'

Economist, United Nations advisor and Columbia University professor Jeffrey Sachs has warned that the United States' latest actions against Venezuela reflect a long-standing foreign policy doctrine centered on attempting regime changes in other countries.

Sachs told NDTV that the US security state is behind around 100 attempted regime changes since the end of World War 2, including through wars, coups, deliberately instigated unrest to overthrow governments, stringent economic sanctions, assassination, bribing militaries to take over governments, and arresting officials or encouraging it. "It is against international and US law. It almost never works in the sense of delivering a stable government, much less a government good for the people. Most of the time, it leads to chaos," he said.

He pointed to Venezuela as an example, tracing American involvement back to the failed 2002 coup against then president Hugo Chavez, and later efforts involving sanctions, asset freezes and the recognition of an alternative leadership.

The difference under Trump's presidential term, Sachs said is how this foreign policy based on regime change is being openly embraced, with the President even going far enough to stoke it.

"Foot Off The Brakes"

Sachs said that while presidents conceal or soften such policies, Trump has veered in the opposite direction. "He has taken a foot off the brake of this security state. Trump is saying we can do it all - overthrow Venezuela, run it, take Greenland, Mexico better watch out, and to Iran 'we're locked and loaded'. He is an unstable individual psychologically and an old man who doesn't look very far ahead," he told NDTV.

Referring to Trump's recent remarks about Chinese and Russian naval activity near Greenland, the economist warned that such rhetoric could translate into real action. "One day he will say we have spotted Chinese submarines off Greenland and must act for national security," he said. "Landing troops and declaring it US territory is not a far-fetched scenario."

Trump's Pivot To Oil

Criticising Trump's changing statements on what led to last week's attack on Venezuela and the following arrest of President Nicolas Maduro and First Lady Cilia Flores, Sachs said that it moved from narco-trafficking to oil in no time.

"Oil keeps us interested. Their (Venezuela's) reserves are larger than Saudi Arabia's, which is one of the reasons why regime change was pursued assiduously. Trump knows that America's fossil fuel reserves from fracking have peaked and the US doesn't have such a long future on its fossil fuels. We would say we have to move to renewables, but Trump is in love with oil and so he has to grab Venezuela," he told NDTV.

Europe 'Afraid', 'Incoherent'

Calling Europe's politics "pathetic", Sachs told NDTV that its leaders have long been vetted by Washington. "If you are a rising politician who opposes US policy, you don't rise very far," he said.

The UN advisor contrasted Europe's muted reaction to Venezuela to the alarm over Trump's comments on taking over Greenland. "On Venezuela, the response is simply that Maduro is a bad guy. They are so afraid of a Russia that will not invade, that they are opening themselves to the US, which is likely to invade," Sachs said.

Why BRICS Matters

Sachs stressed the importance of BRICS nations as a counter to US unilateralism. "The emerging economies want quiet, they don't want an American would-be hegemon making wars, grabbing territory, and stoking big crises. To say we want multilateralism, we want international law," he said.

He urged India and China to "get along" as the real problem is the instability coming from the US. "I have told my friends in India for many years, don't join an anti-China approach, the QUAD and so forth. Rather join with China, Russia, Brazil, South Africa, to say we will provide a basis for stability and economic growth," Sachs added.

Warning that the most dangerous war on the horizon is in Iran, Sachs said the possibility of Israel attacking the country and the US backing the attack is "very realistic".

On Tariffs

Sachs urged India and China, in particular, to resist being drawn into US-led strategic blocs. "The real instability today is coming from the United States. Don't expect that inside deal with the US. India's future is not in replacing China in the US value chain. The US is too protectionist and unstable," he said. India's place is as a leader of 85 per cent of the world's emerging and developing economies outside of the US and Europe.

Relevance Of United Nations

Acknowledging the tight perimeter the United Nations operated within, especially given the veto held by the US in the Security Council, Sachs said the institution still holds significance. "If 180 countries stand up and say we want law, not anarchy, that matters," he said. "The US is only four per cent of the world's population. It cannot break the world through tantrums alone."