China

In August, the expected yield for ten-year Treasury notes fell below the yield for two-year notes for the first time since 2007, with the 30-year bond yield also reaching a new low. The “yield curve” tracks the yield to investors who purchase shares in government debt to be paid back over various time horizons. The national debt accrues as the US Treasury sells Treasury securities in exchange for cash used to finance the government.

China’s National Day, which marks the anniversary of Mao’s proclamation of the People’s Republic of China on 1 October, is always full of pageantry and displays of military strength. But for the 70th anniversary, Xi Jinping pulled out all the stops. The military parade was China’s biggest ever, with new, supersonic unmanned drones and nuclear missiles proudly on display. The message was loud and clear: as Xi himself said, “no force can shake the status of this great nation”.

The Sunday 8 September protest threatens to lead the movement in Hong Kong in a reactionary, openly pro-US imperialist direction. This is extremely dangerous for the movement and must be firmly and unequivocally rejected.

The mass movement in Hong Kong has just won its key demand – the withdrawal of the hated extradition bill that would allow anyone the Beijing government suspects of criminality to be extradited to the mainland. But none of the other four demands, such as for an independent investigation into police brutality, have been won.

Stock markets have experienced a roller-coaster ride over the past two months, as Trump’s erratic trade policy has brought the world economy to the brink of recession. In the latest move, Trump yet again partially postponed the introduction of new tariffs, which he announced two weeks ago. This temporary reprieve will do little to solve the conflict.

Hong Kong’s earthshaking protest movement is entering its second month. Despite increasing pressure from Beijing and the Carrie Lam government, the movement still grows in militancy. It is graduating from bourgeois liberal methods towards the method of class struggle. In many ways, when Carrie Lam emerged from days of obscurity to respond to the general strike, she was right to say that the Hong Kong movement is heading towards a “path of no return.”

Hong Kong’s mass movement against the Chinese state’s attempt to control the territory has been spurred forward by the whip of counterrevolution. On Sunday 21 July, as protestors returned home from demonstrating, around 50 thugs dressed in all-white burst onto a subway train and indiscriminately attacked passengers with poles and other blunt objects. Although the attackers were anonymous and the assault appeared arbitrary, the message was received loud and clear – as was the intention: do not dare challenge the Hong Kong government and its masters in Beijing.

On 16 June, only a week after the last, million-strong march that took place in Hong Kong, a second mass protest occurred. According to the leading organisers of the Civil Human Rights Front, as many as two million people joined the march yesterday. Judging from the images and figures available, as well as what I’ve seen, it is entirely credible that this protest is larger than that of the previous Sunday.

Today, hundreds of thousands of Hong Kongers marched in militant defiance of the ‘extradition bill’ that would grant China the power to take anyone in Hong Kong into custody on the mainland. Only three days earlier, Sunday 9 June, saw what may be the biggest demonstration in Hong Kong’s history. According to organisers, one million marched through the city’s humid streets, meaning one-in-seven Hong Kongers demonstrated!

We are publishing the text of a leaflet produced by a sympathiser of the IMT in Taiwan and aimed at the students there, which explains what the Tiananmen movement in 1989 was about, how it was destroyed and what workers and students in both China and Taiwan should be working towards today.

Thirty years ago, the world’s largest-ever student movement was brought to a violent close by the so-called People’s Liberation Army. For about six weeks, hundreds of thousands, and at one point over a million, students, workers, Communist Party members and Beijing residents had flooded into and occupied Tiananmen Square, the same place from which forty years earlier Mao had proclaimed the founding of the People’s Republic of China.

"When China wakes up, she will shake the world." This famous prediction of Napoleon has been confirmed by history. Particularly in the last 20 years, China has become an economic power of primary importance that objectively threatens the world leadership of the United States.

In the aftermath of recent elections in Cameroon, instability has increased, with a factional struggle opening up between different sections of the ruling class. President Paul Biya of the ruling CPDM, who retained power in 2018, has ramped up political repression, arresting opposition leader Maurice Kamto and intensifying his suppression of the country’s Anglophone minority.

馬克思主義者們認同1949年中國革命所帶來的各種重大成就。這也毫不意外地讓毛澤東所喊出的一些口號在世界各地產生共鳴,並吸引了尤其在中蘇交惡後,尋求官僚化蘇聯以外社會主義體制的革命志士們。然而,所謂的毛澤東思想仍然和真正的馬克思主義之間存在著必須要澄清的重要政治分歧。

马克思主义者们认同1949年中国革命所带来的各种重大成就。这毫不意外地让毛泽东所喊出的一些口号在世界各地产生共鸣,并吸引了尤其在中苏交恶后,寻求官僚化苏联以外社会主义体制的革命志士们。然而,所谓的毛泽东思想仍然和真正的马克思主义之间存在着必须要澄清的重要政治分歧。

On 11 December 2018, the official Weibo account of the US Embassy in China published a blog post entitled “American University Marxist Students Show Solidarity for Unionization and Strikes” (美国大学生马克思主义社团声援工人组织工会和罢工). In it, the embassy referred to the activities of the International Marxist Tendency (IMT) comrades in the Marxist Student Association (MSA) and their political work in Madison, Wisconsin.

Marxists recognise the enormous achievements of the 1949 Chinese Revolution. Unsurprisingly, many slogans by Mao Zedong found an echo across the world as an alternative to the bureaucratised USSR after the Sino-Soviet split. However, there are significant political differences between the ideas of genuine Marxism and those of Maoism, which should be clarified.

(譯者按:本文是國際馬克思主義趨勢(IMT)在中國共產黨召開第十九次全國代表大會後,於2017年11月30日發表的評論。文中討論了關於中國經濟性質從斯大林主義計劃經濟轉變為朝向帝國主義發展的資本主義系統,並在這個基礎上解釋了習近平的強權。編譯團隊決定不更動發表時的原文,以便讀者們比較我們當時的預測和後來的發展。)

(译者按:本文是国际马克思主义趋势(IMT)在中国共产党召开第十九次全国代表大会后,于2017年11月30日发表的评论。文中讨论了关于中国经济性质从斯大林主义计划经济转变为朝向帝国主义发展的资本主义系统,并在这个基础上解释了习近平的强权。编译团队决定不更动发表时的原文,以便读者们比较我们当时的预测和后来的发展。)

近几个月来,一场工人和学生对抗中国资本主义政权的持久战正在展开。中国政府对支援工人的学生们施加的残暴镇压,也凸显了这场抗争的火爆性。

近幾個月來,一場工人和學生對抗中國資本主義政權的持久戰正在展開。中國政府對支援工人的學生們施加的殘暴鎮壓,也凸顯了這場抗爭的火爆性。

In recent months, a protracted struggle has been underway in China, with workers and students standing in solidarity against the pro-capitalist regime. This is highlighted by the recent, brutal clampdown on student activists involved in worker solidarity.

Two weeks ago, Trump announced tariffs on another $200bn worth of imports from China. The announcement was met with protests from the Chinese, as well as big business in the US. China responded with tariffs on another $60bn of imports from the US. This trade war reveals the frictions that have been developing for some time between the imperialist powers, and threatens to plunge the world into a new recession.

On 20 September, an open letter from a representative of the Peking University (PKU) Marxist Society (MS) in Beijing, China began circulating on Chinese social media. The letter detailed the significant difficulty that the society faced this month in finding a faculty advisor required to re-register as a recognised student club on the campus.

In early June of this year, the workers of the Chinese welding equipment manufacturer Jasic Technologies in Shenzhen attempted to legally unionise to protect themselves from chronically poor working conditions and brutal treatment by the management.

随着中国共产党在国际舞台上表现越发得自信,中国的工人阶级也开始对资本主义残酷的现实表现不满。从五月开始,卡车司机、送餐工人和吊车司机举行了三起高曝光率的全国范围的罢工行动。这些罢工的规模,虽然跟整个工人阶级相比较还算是小的,但是工人在多个重点城市联合组织的能力展示了阶级的一层正被推向更深的抗争。

As the Chinese Communist Party acts more confidently on the international stage than ever before, the Chinese working class is starting to chafe against the harsh realities of capitalism. Since May, there have been three high-profile, cross-country strikes started by crane operators, fast food delivery workers, and most recently truckers. Although the strikes were small in relation to the general working class, the workers’ ability to organize across several major cities indicates that a layer of the Chinese working class is being pushed into struggle.

The serious representatives of capitalism are petrified that the ongoing trade dispute between China and America could erupt into a full-blown economic war. In a recent editorial for the Financial Times, associate editor Martin Wolf described US President Donald Trump’s latest plan to reduce the $337bn US-China trade imbalance by imposing $200bn worth of tariffs on Chinese goods (over two years) as a “crazy” act of “fiscal irresponsibility”. But there is method in Trump’s madness. He is predictably applying his particular art of negotiation: threaten, bully and bluster – then strike a deal. However,

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En el reciente decimonoveno Congreso del Partido Comunista Chino, celebrado del 18 al 24 de octubre en Beijing, Xi Jinping aprovechó la oportunidad para hacerle saber al mundo que China es una "fuerza poderosa" que pronto recuperará su posición legítima, como el "Reino Medio", es decir, el centro de la humanidad. Sin embargo, detrás de todas las fanfarronadas, uno podría detectar inquietud ante la perspectiva de una creciente inestabilidad interna que fluye de la inminente crisis del capitalismo.

At the recent 19th Congress of the Chinese Communist Party, held on 18-24 October in Beijing, Xi Jinping took the opportunity to let the world know that China is a “mighty force” soon to reclaim its rightful position as the “Middle Kingdom”, i.e. the centre of humanity. Behind all the bluster, however, one could detect unease at the prospect of growing internal instability that flows from the impending crisis of capitalism.

On the afternoon of Thursday, June 15th local time, an explosion ravaged a nursery in XuZhou city, Jiangsu Province, causing massive deaths, injuries, and damages. The latest official police reports states that 8 people have died and 65 were injured, although many Chinese netizens suspect that this is an understated figure given the photos that were leaked to Chinese internet at the onset of the explosion, which were later removed at the direction of the government.

The China Pakistan Economic Corridor, or CPEC, has become the cornerstone of the state policy of Pakistan in recent years and all the politics and economics of the ruling class revolve around this project. The rulers are claiming that this corridor will bring prosperity and advancement in the country and that soon rivers of milk and honey will start flowing.

The crisis of capitalism in the West has taken centre stage, with the spectacle of Donald Trump's election, and Brexit. China has dropped out of the limelight, for the time being retaining a degree of stability. This at least is the message the party leadership would like to present.

This book is a comprehensive analysis of the revolutionary history of China, from the early 20th century to the present era of crisis, aided by a wealth of research which cuts across the many historical distortions both of bourgeois academia and of the Chinese Communist Party. The degeneration of the Chinese People’s Republic to capitalism has been a second rigorous practical test of Trotsky’s analyses. Has his prognosis that without a political revolution to overthrow the regime, a Stalinist bureaucratic state would return to capitalism, been proved correct?

Less than a quarter of an hour after opening, the Chinese stock market was closed by an automatic shutdown. This was triggered twice last week by rapid falls of more than 7%. This "circuit-breaker" mechanism was imposed by the government only 5 months ago after equally dramatic losses. The government has now suspended this measure, not from new-found confidence, but as a further turn of panic.

From 1937-45, China became one of the main theatres of the Second World War. This entangling of China in World War II raised the country out of its subjugation on the world stage, such that at the War’s conclusion China was given a permanent seat on the UN Security Council. Only 4 years later the immense Chinese revolution was finally completed, freeing China from imperialist domination. The war's violent dragging of China onto the world stage had effected a thoroughgoing internal transformation of China. In this article we examine the war and its effect on China, the role of the Chinese ruling class in the war, and the strategy and tactics of the Chinese Communist Party that led the

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The world economy is tottering. This week it has been buffeted by two extremely turbulent financial storms - Greece and, suddenly, China, the world’s second largest economy. Globally, the system is extremely unbalanced, with massive wealth accumulating in tiny handfuls whilst the billioned masses must keep borrowing from these billionaires to make ends meet. This top heavy, blind and irrational system cannot stand on its own feet and the nation states are buckling under the weight. The sudden stock market collapse in China has been so vast that even the mighty Chinese government is incapable of controlling it.

Thousands of protesters violently clashed with authorities last Saturday in Linshui County, located in eastern Sichuan province. The protesters demanded that a proposed high speed railway pass through Linshui. They were met with batons and rubber bullets, with hundreds reportedly being injured by the police and tactical units. The heavy handed response of the Chinese state to these protests reveals the instability and weakness of the regime.

Newly released figures show that the Chinese economy in 2014 experienced its lowest economic growth since 1990. Furthermore, the International Monetary Fund downgraded its 2015 growth projection for China from 7.1% to 6.8%. According to the Financial Times, 30 out of China’s 31 provinces had missed their growth targets for 2014 – the only one which didn’t was Tibet, by far the country’s smallest regional economy.

Despite all the Keynesian experiments and the monetary stimulus, China has failed to escape the global economic crisis. In 2014 its economic growth dropped to 7.4%, the weakest in 24 years. For the first time in 16 years growth missed the government’s annual target (7.5%).

Three years after the Occupy Wall Street Movement spread out from Manhattan to several major cities all over the world, the Occupy Central movement has begun, earlier than planned on 26th September, after a couple of years of discussions and demonstrations, with the declaration of an “era of civil disobedience”. Prior to this, students from 25 universities and various schools joined a one-week strike called by the Hong Kong Federation of Students on 22nd September, which served as the ‘final warning to the regime’.

Twenty-five years ago, on 4th June 1989, the Tian’anmen square movement was brutally smashed by the rifles and tanks of the Chinese troops. It was a heroic movement of the Chinese people in a struggle against the bureaucracy in general, and more specifically against the lack of democracy, corruption, and the negative impact of the market economic reforms.

Luxury goods brands such as Louis Vuitton, Remy Martin and Bentley have posted falls both in growth and profits in the recent period, down from record highs. That the sales of luxuries have been booming in a period of global recession for the past few years appears remarkable in itself. This contradictory phenomenon, and its more recent decline, gives an insight into one aspect of the capitalist crisis.

Six months into China’s new Politburo Standing Committee under Xi Jinping’s Presidency, it has become abundantly clear that the next ten years under his rule will not resemble the relative social stability and rapid growth of the past ten years. The cart will not keep on rolling down the same path.  Xi Jinping and the Chinese Communist Party stand at a crossroads, facing that classic dilemma of all ruling classes - either to open up to democratic reform or clamp down on growing dissent?