In a speech that started out as an apology for the crimes of the Roman Catholic Church in Latin America during the colonial era, Pope Francis went on to criticize capitalism as “new colonialism” on 9th July. [...] The Pope voiced these thoughts in Bolivia, where he was at the Second World Meeting of Popular Movements, after his appearance in Ecuador. 

Having returned to his native Latin America, Francis has renewed his left-leaning critiques on the inequalities of capitalism, describing it as an underlying cause of global injustice, and a prime cause of climate change. 

Following China’s economic rise, the world is keeping watch over its system of government, and how it has successfully adapted to the international capitalist environment from socialism. China’s political development is thought to have far-reaching consequences for Korea in diplomacy, trade and people exchanges, as bilateral relations are deepening. 

A recent survey conducted by global research firm IPSOS across 20 countries, found that a whopping 71 percent of Chinese say they gauge their success by the things they own. That’s significantly higher than it was for every other country included in the survey.

Pope Francis is once again shaking things up in the Catholic Church. On Tuesday, he issued his first “apostolic exhortation,” declaring a new enemy for the Catholic Church: modern capitalism. “Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world,” he wrote.

"The old model was Capitalism, the new model is Talentism," he said, noting that the new model will center on human talent to encourage creativity, entrepreneurship and innovation-driven economic development and social progress. He also envisaged a new leadership model based on collaborative power or social power rather than the conception of hard power and soft power...