Guizhou province’s distress signal opens new front in country’s debt meltdown. China’s economy suffered a disastrous 2022. Xi Jinping, months into his unprecedented third term as absolute ruler, is therefore desperate for an economic rebound to dispel the gloom that grips the Chinese and global capitalists and restore “confidence.” Earlier this year, global capitalism had […]
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Marcos Ariel is a member of Alternativa Socialista (ISA in Argentina). Political Glossary Frente de Izquierda y los Trabajadores — Unidad. (Left and Workers Front — Unity) Formed in 2011 as the electoral coalition of the four largest Trotskyist parties: the PTS, Partido Obrero, Izquierda Socialista and the MST (who joined in the 2019 elections). […]
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In early 2020, COVID engulfed Canadians and the world in turmoil that has not ended. War in the Ukraine, convoy in Ottawa, inflation everywhere, and fear of a banking crisis and another recession. In June 2022, inflation was above 8 percent, the highest rate in over 40 years. It has declined to 5 percent, but […]
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The Canadian government is giving Volkswagen Canada (VW) $13 billion to build a massive new electric vehicle (EV) battery plant in St. Thomas, Ontario. This is being hailed as a “game changer” for Canada’s auto sector as the ruling classes of various countries fight to secure investment in a broader and greener economy. Canada’s traditional […]
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Keishia Taylor and Eddie McCabe are members of the Socialist Party (ISA in Ireland). The tech sector is in turmoil — facing its worst crisis since the dot-com bubble burst in the late 1990s. Stock prices are fluctuating wildly, profits are being squeezed, and hundreds of thousands of workers have been laid off. Tech companies […]
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In February 2023, average inflation was 5.2 percent; prices are still increasing but more slowly than a year ago. However, food inflation was 10.6 percent, reinforcing the strong feeling that the big three grocery companies are profit gouging consumers. In order to appear that they are doing something, MPs summoned the heads of the big […]
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Tom Crean is a member of Socialist Alternative in the US. The collapse of the Silicon Valley Bank last week has opened up a significant financial crisis for US capitalism which now appears to be spreading to Europe. It is too early to say whether this is the beginning of a more full-blown crisis that […]
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Report of the discussion on World Perspectives at ISA’s 2023 World Congress Climate disasters, raging inflation and the threat of a world recession. A brutal war in Ukraine and rising global tensions. Three years of COVID with health systems teetering on the breaking points. Political polarization and unstable governments. The ruling class looks to the […]
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Danny Byrne is a member of ISA’s International Executive. Report from International Socialist Alternative’s World Congress — further reports to follow Between January 30 and February 5, over 100 delegates and visitors participated in International Socialist Alternative’s 13th World Congress. Participants hailed from over 30 countries, across all continents. Most delegates participated in person, gathering […]
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The Bank of Canada jacked up interest rates again to 4.5 percent. In less than a year the Bank has raised rates eight times from 0.25 percent, causing misery to millions with higher rent mortgages and debt charges. These actions make a recession, with higher unemployment, more likely. This article, written in late January, first […]
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