West’s neoliberal ‘age of abundance’ is over, as war and sanctions boomerang home

Aug 27, 2022 — France’s President Emmanuel Macron, a former banker, warned “we are living the end of what could have seemed an era of abundance.” Western wars and sanctions are boomeranging back at home. The neoliberal phase of capitalism is collapsing.

Neoliberalism has lost the key pillars it was built on: cheap energy and raw materials from Russia, cheap labor and consumer goods from China, an unsustainable bubble of household debt, low to zero interest rates, and Washington’s ability to organize regime-change operations in any country where a government tried a socialistic or state-led economic model.

West’s neoliberal ‘age of abundance’ is over, as war and sanctions boomerang home via Multipolarista

Africa taken for ‘neo-colonial’ ride

By Anis Chowdhury and Jomo Kwame Sundaram – Jul 26, 2022

SYDNEY and KUALA LUMPUR, Jul 26 2022 (IPS) – Like so many others, Africans have long been misled. Alleged progress under imperialism has long been used to legitimize exploitation. Meanwhile, Western colonial powers have been replaced by neo-colonial governments and international institutions serving their interests.

Africa taken for ‘neo-colonial’ ride

Andrew Yang Launches Third Party For Billionaires

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Rather than something new, the party is attempting to reach a previous Republican electorate that existed before Donald Trump took control of the party.

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The People’s Party has their own problems, as well.

On this day, 24 July 2009, 3,000 steel workers in Tonghua, China rioted and beat an executive to death when threatened with privatization and job losses.

Jianlong Steel Holding Company official Chen Guojun, who earned over 3 million yuan the previous year, planned to take over the majority state-owned Tonghua Iron and Steel Group. He announced plans to cut the number of workers from 30,000 down to around 5,000, with those made redundant receiving around 200 yuan in compensation. The firm was still profitable, but the planned restructuring was aimed at increasing profits further amidst a global economic downturn.

Outraged, the workers shut down production and rioted, beating Chen, blocking roads and smashing police cars to prevent police and ambulances from reaching him.

The sale was subsequently scrapped.

On this day, 24 July 2009, 3,000 steel workers in Tonghua, China rioted and beat an executive to death when threatened with privatisation and job losses.

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China, rising wages and worker militancy