National Sections of the L5I:

Economy

Global credit crunch – towards a crisis of globalisation?

The year 2007 has not so far been kind to the ideologues of capitalism – nor to anyone expecting the current boom economy in the US and Britain to continue unabated in the years ahead. A series of sudden events, culminating in a global credit crunch in August and even a good old-fashioned bank run in the UK in September, revealed that the capitalist system remains riven with contradictions that are prone to burst out in periodic crises. Read more...

China: From Mao to the market

Peter Main surveys the changes going on in China which are propelling it forward both economically and politically - but where is it going? Read more...

Credit crunch and capitalist crisis

Serious instability in the world financial system - which we drew attention to in our last issue (see Workers Power) - has deepened over the summer. Read more...

Foreshocks of a global economic earthquake?

The world financial system has entered a phase of instability that is beginning to panic the billionaire bankers. Many are asking if the orgy of speculation that has gripped stock markets in the USA, Britain and China is about to come to an abrupt end. Even the Bank for International Settlements – one of the world’s most important financial institutions – has raised the spectre of a global depression at some time in the foreseeable future. Read more...

China’s move to the market

Mark Booth reviews Living with Reform: China since 1989, Timothy Cheek. Read more...

China: speculation, corruption and excessive intervention

In the aftermath of February’s dramatic collapse of the Shanghai stock market, the authorities in Beijing have issued a brochure warning investors of the possible dangers involved in investment, especially in unit trusts. These managed funds have proved to be particularly popular with less experienced investors attracted by the reported combined income of 124.8 billion yuan (some £9 billion) that the funds made in the last year. According to the Asia Times, over 300,000 new accounts were opened on just one day, March 6, and this sector now accounts for very nearly 20% of total stock market values. Read more...

Is globalisation good for you?

In March this year, Horst Köhler managing director of the IMF intoned: “Widespread poverty in the midst of global prosperity is both unsustainable and morally unacceptable. World poverty is thus the paramount challenge of the 21st century.” Read more...

G8 and the global south

At the G8 summit in Heiligendamm this June, leaders of the eight wealthiest countries will cry crocodile tears for Africa. As in 2005 at Gleneagles, George Bush and his cronies will discuss a “Marshall plan” for Africa, to “save” the Africans from themselves and their corrupt leaders, to “commit African leaders to democracy and good governance” - meaning to force open their economies even further to multinational companies seeking super exploitation and superprofits - no matter what cost to the people or the environment. Read more...

Navigation