Global Uncertainty and Chinese Capitalism
by Kumar David-November 7, 2015, 8:57 pm
Class struggle and economic difficulties have multiplied in the developed world in the last seven years (since autumn 2008) and the economic downturn has spread to China whose headlong rush to capitalism has been thwarted by powerful internal impediments (monopoly power in the hands of a Communist – sic! – Party and the strength and size of its working class and peasantry). China’s economy slowed down precipitously in 2014-15. The Middle East is a boiling cauldron of devil’s broth; sort out the Iran nuclear imbroglio and IS shatters the region into a dozen imploding fragments! The Middle Eastern and North African refugee flood into Europe (a rising proportion are economic migrants) may pass the three million mark before it abates; it is already transforming the social face of the continent and firing up its political temperature.