China’s Deepest Crisis in 30 Years

Vincent Kolo is a contributor to chinaworker.info. A succession of economic and political disasters is casting a dark cloud over Xi Jinping’s impending coronation as China’s dictator-for-life. Paralyzing “Zero COVID” lockdowns of major cities, collapsing GDP growth, record unemployment levels, and accelerating imperialist conflict in the shadow of the Ukraine war have plunged Chinese society […]

Continue Reading

Bankers Don’t Worry about Climate

On May 20, Stuart Kirk, Global Head of Responsible Investments for the mega-bank HSBC (2021 assets $2.9 trillion, 2021 profits $12.6 billion), gave a speech at a Financial Times (ahem) “Moral Money” conference. The talk was titled “Why investors need not worry about climate risk.” Mr. Kirk, whose job with the bank “involves considering the […]

Continue Reading

Profit-Gouging Oil Companies

Gas prices have soared around the world, adding to inflation that is hitting workers’ living standards. Vancouver, like its overinflated housing market, has Canada’s highest gas prices. The price of gas in Vancouver rose from $1.60 a litre in December 2021 to $2 a litre in March and over $2.30 in May. In most of […]

Continue Reading

How Deglobalization is Reshaping the World Economy

Tom Crean is a member of Socialist Alternative in the US. Article after article in the mainstream corporate media in recent weeks has stated that the war in Ukraine has accelerated a radical realignment in the world economy that is termed “deglobalization.” Martin Wolf, the chief economics editor of the Financial Times stated recently that […]

Continue Reading

Expropriating the Expropriators

Eddie McCabe is a member of the Socialist Party (ISA in Ireland). Why We Call for Nationalization & Democratic Public Ownership A socialist economic alternative includes many essential features such as wage rises and reduced hours for workers, taxes on wealth and profits, expanded and free public services etc. But a core demand is for […]

Continue Reading

Inflation, Debt and the Threat of Recession

Eric Byl is a member of ISA’s International Executive. The Latest Phase of the Global Crisis Even before the outbreak of the Omicron variant, euphoric expectations of a strong post-pandemic recovery based on the release of pent-up consumer spending and corporate investments, gave way to major worries. In many countries, consumers are confronted with the […]

Continue Reading

Covid and Capitalism – Cui Bono

Lucius Cassius was an ancient Roman judge who got a reputation for wisdom and fairness in court by repeatedly asking in cases, “Cui Bono?” or “Who Benefits?” Starting the third year of the COVID pandemic, the answer to old Lucius’ question seems pretty obvious: Canadian Banks once again posted record profits and bonuses, while at […]

Continue Reading

2021: Age of Disorder, Year 2

Danny Byrne is a member of ISA’s International Executive. From beginning to end, 2021 was a year of perfect storm for world capitalism. This rotten and decadent system has rarely, if ever before, faced such deep simultaneous crises on so many fronts. It has never been more over-ripe for replacement, and the 2020s are only […]

Continue Reading