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The largest human migration
in the world gets under way every Chinese
New Year, as China's 120
million strong army of migrant workers make
their annual trip home. This
year heavy snows led to railways and
roads being overburdened and
transport bottlenecks wreaked sudden
nationwide chaos.
How do you lose £3.7 billion? Down the back of the sofa? Meet Jerome Kerviel. He lost £3.7 billion of
his employer’s money, Societe Generale, a French
bank. Is it actually a good argument for
capitalism that the whole world can be screwed up because of a solitary rogue
trader? Is the system really so precarious that one crook can send world
financial markets into freefall?
For years Socialist Appeal
and the International Marxist Tendency have been arguing that the world is an
increasingly unstable place, where war threatens on many fronts
and revolution and counter-revolution hang in the air. The bourgeois and the Labour
right wing basically argue that it’s all down to evil people and that nice
President Bush and the generals keep us all safe by attacking terrr’sts and
keeping the world safe for freedom and ‘mockracy.
Everything now clearly indicates that the
advanced capitalist world is headed for recession. The only question is when
and how deep that recession will be. In fact Merrill Lynch says the US economy
is already in recession. And that’s bad news for all of us. Here Mick Brooks at
what is really going on in the world economy.
Panic! The world’s
stock markets had their sharpest fall since 9/11 on Monday 21 January. Stock markets have had their worst start in the UK since records began! The UK is the most dependent of all the big seven
economies on finance, property and professional services rather than
productive sectors like manufacturing and transport.. So this world
downturn will hit it hardest of all.
In Bangladesh politics revolves round
the prices of staple foods. The price of rice in Bangladesh has a correlation with
poverty, economic and political stability. In 2000, a wage labourer could buy
6-7 kg of rice with his daily income (Taka 60 per day, about 43 p). Now, less
than half of that can be bought, even though the income has risen over time. Rising food prices stand out as a problem that, if left
unresolved, could derail all political predictions and spell disaster for the
country in 2008.
As the New Year begins Alan Woods comments on the state of world
affairs, highlighting the impasse facing humanity, a direct consequence of
capitalism in its phase of senile decay. At the root of the present world
turmoil is private property of the means of production, a system based on greed
for profit. In the next period the workers of the world are faced with the task
of removing the system.
We publish a response from the GMB to an article in the Guardian that implied multinational banana companies in Latin America supported the principle of free collective bargaining. It exposes the collaboration between union tops and companies such as Del Monte, who have carried out a campaign of intimidation against organised workers. The dominance of British supermarkets in the area is identified as a key element in this campaign.
We have just received this extremely important report from
the comrades in Pakistan. It indicates that the assassination of Benazir Bhutto
has had the effect of a catalyst that is impelling the masses onto the
revolutionary road. The situation is now beginning to resemble that of tsarist
Russia after Bloody Sunday in 1905. The Pakistan Marxists of The Struggle
are playing a leading role in the mass movement, as this report clearly shows.
Despite an
international conspiracy of silence, as we have reported over the past year
Egypt has seen a major upturn in the class struggle. Workers have shown
fantastic bravery and made enormous sacrifices.
The murder of Benazir Bhutto has led to an explosion of popular anger. Pakistan is convulsed by rioting and mass protests. Society has been stirred up to the depths. Raw human emotion has spilled over onto the streets of every city, town and village. The army and police are powerless to halt the tide of indignation. The government is shaken to the core.
Benazir Bhutto has been killed in a suicide bomb attack. The leader of the Pakistan People's Party (PPP) had just addressed a rally of PPP supporters in the town of Rawalpindi when the attack took place. First reports talked of at least 100 killed in the attack, but more recent news put the figure at 20. This murderous onslaught on the PPP came in the middle of an election campaign where, after years of military dictatorship, the masses were striving for a change.
