We look back at the 1925-27 revolution, which was a heroic attempt of the Chinese workers to follow in the footsteps of the October 1917 Russian Revolution. However, due to its unprepared and irresolute leadership, it went down to a tragic defeat. Failed revolutions are always the greatest of tragedies. However, the only way of really honouring the many victims of the counter-revolution that ensued is to study the revolution and learn from its mistakes.

In the past two months a handful of tiny Islands off the coast of China have been making headlines across the world. The disputed island chain, known as the Diaoyu in China and the Senkaku in Japan, made international news after Japanese nationalists planted the flag of Japan on its uninhabited shore (with lavish media coverage). The tension escalated when in September the Japanese government nationalised the islands, previously owned by the Kurihara family, sparking off a wave of militant nationalist protest in China. But why are these seemingly irrelevant islands so significant?

The picture of the Chinese economy painted by commentators in the West is often one of strength; an economy dominated by exports, with unstoppable growth and development; in short, a model to emulate. Recent figures released by the International Monetary Fund, however, describe a very different situation; a situation where contradictions are intensifying below the surface; a situation that is pregnant with crisis and revolutionary consequences.

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