The background to the article reprinted here is the “long boom” of western capitalism during the 1950s and 1960s. It first appeared in International Socialism journal in Spring 1967. On the surface it appeared that the capitalist system had stabilised itself, had broken out of the boom-slump cycle and was now able to offer the workers of Western Europe and North America a steady increase in living standards.
This was a frustrating world for Marxists, who found themselves subject to two temptations. One was to surrender to the claims poured out by the system’s apologists that capitalism had solved its problems and that the path of gradual reform offered a sure road to socialism. The other was to deny the obvious signs of stability and prosperity and assert that capitalism was on the verge of imminent, catastrophic collapse. If these temptations were to be avoided, and Marx’s analysis of capitalism’s contradictions was to hold, then the long boom must be explained.
On New Year’s eve, Chinese President Xi Jinping delivered his 2025 New Year address through China Media Group and the Internet. The following is the full text of the address:
The ban will challenge many semiconductor manufacturers in the coming months. After two years of flat consumer demand, exacerbated by the global semiconductor shortage, many companies are predicted to struggle to stay afloat. Access to critical raw materials like gallium, germanium, and antimony is becoming increasingly important due to the heightened demand for electronics due to AI.
4) Globalist puppet Milei slashes government spending and privatizes a whole lot of sectors. This is the neoliberal “shock therapy.”
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Meanwhile, 54% of Argentinians are in poverty, consumer prices have tripled over the last year, the economy is in recession, and industrial production has been dwindling consistently.
In 2022, the US kicked Russia out of the SWIFT system, causing significant losses for Russian businesses and ordinary citizens. Even Switzerland’s traditionally neutral banks joined this looting. The monopoly over the financial system and global currency once gave the U.S. and EU such capability, but at the 2024 BRICS summit, Western countries permanently lost this advantage.
China’s hybrid “state capitalist” system, driven by centralized planning and fierce competition, has led to dominance in critical technological fields and emerging markets. Western multinational corporations are advised to adopt a pragmatic approach to capitalize on four key strengths of China’s economy: its innovation ecosystem, its investment in the Global South, its ultra-competitive markets, and its vast consumer base. Those who fail to engage risk losing global revenue and strategic opportunities.
Vente Venezuela, the party of María Corina Machado, is connected to the National Democratic Institute and the Atlas Network via the Liberal Network for Latin America (RELIAL) and Liberal International. Edmundo González is just a stand-in for her.
Ms. Cat’s Chronicles 
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